Banking and Financial Services Offshoring

From Transaction Processing to Analytics

Publication Date	July 2006
Publisher	Value Notes
Product Type	Report
Pages	90
ISBN Number	not applicable
Product Code	VND00005

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Summary

Almost 50% of the world's biggest banks in terms of asset size already have significant presence in India. The smaller, regional banks are also expected to take to offshoring in a big way in future. The need to manage increasingly complex global operations in a cost-effective manner, and added workload due to regulatory compliance such as SOX, Spitzer's Settlement ruling and Basel II norms are major offshoring drivers.

The offshore vendor landscape is made up of:

Captives of MNC banks and financial institutions such as Morgan Stanley, JP Morgan, Goldman Sachs, Lehman Brothers,TSB Lloyds, Scope International
Among third party players are:
Large multi-service companies like Genpact, EXL Service, WNS;
Multi-service BPOs with IT parents such as Wipro BPO, Progeon, MphasiS BPO and iGate;
Large KPOs such as Evalueserve, OPI and Integreon

Large players and niche specialists are best positioned to exploit the large opportunity.

The report provides an overview of the buyer scenario and an in-depth analysis of the Indian vendor space along with profiles of major industry players.

The report is designed to help:

Banking and Financial Services firms looking to outsource/offshore
Outsourcing consultants to evaluate and compare the offerings of vendors
Banking and Financial Services vendors to assess their competitive environment
Venture Capital companies looking for investment opportunities
Researchers looking for detailed information on financial services offshoring

This study is based on secondary data as well as extensive interviews with key people at various BPOs (captive as well as third-party) in India.

Content

1. Executive Summary
2. Scope
3. The Big Picture
- 3.1 Financial Services Industry: Definition
- 3.2 The Global Financial Services Market
- 3.3 Business Processes
4. The Offshoring Perspective
- 4.1 BFS - Pioneers of Offshoring
- 4.2 Offshoring Drivers: Beyond Cost Arbitrage
- 4.3 Offshoring Preferences: Regional and Global Firms
- 4.4 India Remains the Favorite
5. Who is doing What?
- 5.1 The Matrix
6. Indian Vendor Analysis
- 6.1 Vendor Segmentation
- 6.2 Funding Patterns for Third Party BPOs
- 6.3 Billing Rates
- 6.4 Current Positioning of Vendors
7. Trends, Insights & Projections
- 7.1 Best-of-breed Global Sourcing Will Increase
- 7.2 Leading to Hybrids Within Hybrids
- 7.3 Captives' Will Remain So
- 7.4 M&A Activity Will Gain More Traction
- 7.5 Skill Availability Holds The Key
- 7.6 Estimated Growth in Offshoring for India
- 7.7 Research and Analytics to Witness Spectacular Growth
- 7.8 Employee Numbers up 350% in Five years
8. Company Profiles
- 24/7 Customer
- Adventity
- Amba Research
- Copal Partners
- EXL Service
- Fractal Analytics
- Genpact
- IBM Daksh
- ICICI OneSource
- Inductis
- KPIT Cummins GBS
- MphasiS
- OfficeTiger
- Outsource Partners International
- Progeon
- Transworks
- Wipro BPO
9. Directory
10. Research Methodology
11. About ValueNotes
Table of Figures
- Figure: 1 S&P 500 market capitalizations 2004
- Figure: 2 Global financial services market by segment
- Figure: 3 Geographical dispersion of the global market
- Figure: 4 Global financial conglomerates
- Figure: 5 Business processes
- Figure: 6 Process sub-classifications
- Figure: 7 Core services
- Figure: 8 Financial services value chain
- Figure: 9 The offshoring time-line
- Figure: 10 Drivers: Now and Then
- Figure: 11 Regulatory Drivers
- Figure: 12 Regional Firms Prefer Regional Vendors
- Figure: 13 Services outsourced across the vertical
- Figure: 14 Components of research and analytics
- Figure: 15 India SWOT analyses
- Figure: 16 Wage comparisons in the financial services industry
- Figure: 17 Preferred destinations for offshoring
- Figure: 18 Comparison of offshore destinations
- Figure: 19 Who-is-doing-what matrix
- Figure: 20 IT offshoring by top 30 firms
- Figure: 21 Percent of financial institutions offshoring different services to India
- Figure: 22 Vendor Segmentation
- Figure: 23 Captive centers in India
- Figure: 24 Major players catering to the BFS vertical
- Figure: 25 Services offered by third party players
- Figure: 26 Number vs. employment amongst vendor types
- Figure: 27 Comparison of the vendor models
- Figure: 28 VCs - the prime funding source
- Figure: 29 Funding received by major BPOs
- Figure: 30 Average Billing Rates
- Figure: 31 Research and analytics claim the most
- Figure: 32 Third Party Vendor groups
- Figure: 33 Niche-o-Meter: Measuring the BFS dominance
- Figure: 34 SWOT analyses of Third party vendors
- Figure: 35 Rating of Vendor Clusters
- Figure: 36 Vendor life cycle
- Figure: 37 Future strategic moves of the vendors
- Figure: 38 The hybrid model
- Figure: 39 Prominent M&A Deals
- Figure: 40 $6.52 Billion Indian offshoring in 2011 at current levels
- Figure: 41 Employee demand to increase four fold by 2011

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Product features / use

Scope	Concise Overview
Level	General Industry Strategies
Data	Broad Market Predictions
Profiles	Profiles of Key Companies
Features	Primary Research Data
Extra Info	Consumer Trends Highlighted