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With growth rates of 30 to 35%, India's revenues
from banking and financial services offshoring
is likely to reach $6.5 billion by FY2011.
However, this is still a fraction of the "offshoreable"
market potential. Arun Jethmalani, CEO of
ValueNotes says, "Growth in Indian offshore
revenues from the BFS vertical will outpace
overall BPO growth, driven by expansion into
higher value services, especially research and
analytics".
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.
Ribhu Ranjan, ValueNotes analyst and co-author
of the report expects that going forward,
regional and mid-tier financial firms the world
over will adopt a multi-location, multi-vendor
offshoring model, signaling a preference for
global sourcing.
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.
For more information about this "Banking
and Financial Services Offshoring: From
Transaction Processing to Analytics" report, please visit :
http://www.bharatbook.com/detail.asp?id=20141
or
Email :
info@bharatbook.com
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