Global Back Office Outsourcing Market in the Financial Services Sector 2016-2020

  • ID: 3736324
  • Report
  • Region: Global
  • 65 pages
  • TechNavio
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FEATURED COMPANIES

  • Accenture
  • Cognizant
  • EXL
  • Infosys
  • Mphasis
  • Tech Mahindra
  • MORE
About the Back Office Outsourcing Market in the Financial Services Sector

Outsourcing refers to the transfer of business functions or services to a third-party service provider on a contractual basis. Companies primarily outsource to reduce costs and reap potential benefits such as gaining access to skilled expertise, flexible staffing, reduce turnaround time, improve efficiency, and generate more profits.
Outsourcing is often divided into two broad categories, back office outsourcing, and front office outsourcing. Front office outsourcing often deals with customer-related services such as marketing. Back office functions comprise those tasks that help in keeping a business running smoothly and efficiently. They, however, do not make up the core of the company business.

The analysts forecast the Global Back Office Outsourcing Market in the Financial Services Sector to grow at a CAGR of 7.46% during the period 2016-2020.

Covered in this report
The report covers the present scenario and the growth prospects of the Global Back Office Outsourcing Market in the Financial Services Sector for 2016-2020.

The market is divided into the following segments based on geography:
- Americas
- APAC
- EMEA

The report, Global Back Office Outsourcing Market in the Financial Services Sector 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
- Accenture
- IBM
- Infosys
- TCS

Other prominent vendors
- Aegis
- Attra Infotech
- Birlasoft
- Capgemini
- CGI
- Cognizant
- CSC
- Dell
- eClerx
- Endava
- EPAM
- EXL
- HCL
- Hexaware
- HP
- iGate
- Infosys
- ITC Infotech
- L&T Infotech
- Luxoft
- Mindtree
- Mphasis
- NIIT Technologies
- Polaris Consulting and Services
- Serco Global Services
- Softtek
- Sutherland Global Services
- Syntel
- Tech Mahindra
- Unisys
- Virtusa
- Viteos Fund Services
- Wipro
- WNS
- Xchanging
- Xerox
- Zensar

Market drivers
- Greater efficiency and productivity
- For a full, detailed list, view the full report

Market challenges
- High level of attrition and employee turnover
- For a full, detailed list, view the full report

Market trends
- Increased adoption of digital and mobile solutions
- For a full, detailed list, view the full report

Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

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FEATURED COMPANIES

  • Accenture
  • Cognizant
  • EXL
  • Infosys
  • Mphasis
  • Tech Mahindra
  • MORE
PART 01: Executive summary
  • Highlights
PART 02: Scope of the report
  • Market overview
  • Top-vendor offerings
PART 03: Market research methodology
  • Research methodology
  • Economic indicators
PART 04: Introduction
  • Key market highlights
PART 05: Market landscape
  • Market overview
  • Market size and forecast
  • Five forces analysis
PART 06: Market segmentation by category
  • Segmentation of global back office outsourcing market in financial service sector by category
  • Hardware
  • Software
  • Services
PART 07: Geographical segmentation
  • Geographical segmentation of global back office outsourcing market in financial services sector
  • Americas
  • EMEA
  • APAC
PART 08: Market drivers
  • Greater efficiency and productivity
  • Cost savings
  • Risk mitigation
  • Increase in outsourcing of ATM back office services
  • Need to conform with regulatory compliance
PART 09: Impact of drivers

PART 10: Market challenges
  • Increased security concerns
  • Inconvenience for company employees
  • High levels of attrition and employee turnover
  • Lack of domain expertise
  • Adhering to varied requirements
PART 11: Impact of drivers and challenges

PART 12: Market trends
  • Increased adoption of digital and mobile solutions
  • Consistent occurrence of outsourcing deals pertaining to back office services
  • Rise of big data in financial services
  • Increased adoption of cloud computing and virtualization
PART 13: Vendor landscape
  • Competitive scenario
  • Major vendors
  • Other prominent vendors
PART 14: Key vendor analysis
  • Accenture
  • IBM
  • Infosys
  • TCS
PART 15: Appendix
  • List of abbreviations
PART 16: About the Author

List of Exhibits
Exhibit 01: Countries covered for market analysis
Exhibit 02: Product offerings
Exhibit 03: Global back office outsourcing market in financial services sector 2015-2020 ($ billions)
Exhibit 04: Five forces analysis
Exhibit 05: Segmentation of global back office outsourcing market in financial services sector by category 2015
Exhibit 06: ITO versus BPO deals in BFSI sector by volume 2015
Exhibit 07: ITO by function
Exhibit 08: BPO by function
Exhibit 09: Geographical segmentation of global back office outsourcing market in financial services sector
Exhibit 10: Impact of drivers
Exhibit 11: Impact of drivers and challenges
Exhibit 12: Other prominent vendors
Exhibit 13: Accenture: IT infrastructure outsourcing services
Exhibit 14: Accenture: BPO service offerings
Exhibit 15: Accenture: Financial and accounting BPO services
Exhibit 16: IBM: IT outsourcing service offerings
Exhibit 17: IBM: Financial services
Exhibit 18: Infosys: Application outsourcing services
Exhibit 19: Infosys: Business process services
Exhibit 20: TCS: Banking solutions
Exhibit 21: TCS: IT infrastructure and application outsourcing services
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FEATURED COMPANIES

  • Accenture
  • Cognizant
  • EXL
  • Infosys
  • Mphasis
  • Tech Mahindra
  • MORE
New Report Released: – Global Back Office Outsourcing Market in the Financial Services Sector 2016-2020

The author of the report recognizes the following companies as the key players in the Global Back Office Outsourcing Market in the Financial Services Sector: Accenture, IBM, Infosys, and TCS.

Other Prominent Vendors in the market are: Aegis, Attra Infotech, Birlasoft, Capgemini, CGI, Cognizant, CSC, Dell, eClerx, Endava, EPAM, EXL, HCL, Hexaware, HP, iGate, Infosys, ITC Infotech, L&T Infotech, Luxoft, Mindtree, Mphasis, NIIT Technologies, Polaris Consulting and Services, Serco Global Services, Softtek, Sutherland Global Services, Syntel, Tech Mahindra, Unisys, Virtusa, Viteos Fund Services, Wipro, WNS, Xchanging, Xerox, and Zensar.

Commenting on the report, an analyst from the research team said: “An emerging trend in this market is the increased adoption of digital and mobile solutions. Digital technologies have enabled a diverse range of banking innovations, which include innovative identification methods utilizing biometric, Near Field Communication (NFC) systems allowing contactless payment systems, other technologies such as PayPal’s Beacon and Apple’s iBeacon which operates on user proximity-based Bluetooth connections.”

According to the report, a key growth driver for this market is the need for greater efficiency and productivity. Given the limited workforce and budget allocation, there are always few specific business operations that a company is not able to focus on properly. Expansion through outsourcing of these resource intensive back office functions, such as monitoring budgets, maintenance of database, fielding queries helps companies to refocus on activities that are integral to the company's growth. Also, a huge chunk of the burden of employees is also brought down through the outsourcing of these administrative and procedural back office responsibilities. This, in turn, helps them to utilize the saved time in working towards core competencies of the company.

Further, the report states that one challenge that could hamper market growth is the high attrition levels and employee turnover in BPO companies.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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- Accenture
- IBM
- Infosys
- TCS
- Aegis
- Attra Infotech
- Birlasoft
- Capgemini
- CGI
- Cognizant
- CSC
- Dell
- eClerx
- Endava
- EPAM
- EXL
- HCL
- Hexaware
- HP
- iGate
- Infosys
- ITC Infotech
- L&T Infotech
- Luxoft
- Mindtree
- Mphasis
- NIIT Technologies
- Polaris Consulting and Services
- Serco Global Services
- Softtek
- Sutherland Global Services
- Syntel
- Tech Mahindra
- Unisys
- Virtusa
- Viteos Fund Services
- Wipro
- WNS
- Xchanging
- Xerox
- Zensar.
Note: Product cover images may vary from those shown
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