Author: ManuAggarwal

Financial Crime and Compliance (FCC) Operations Services PEAK Matrix® Assessment 2024

Financial Crime and Compliance (FCC) Operations Services

The Financial Crime and Compliance (FCC) operations landscape is rapidly expanding within the Banking and Financial Services (BFS) industry. Amid challenges such as rising fraud, evolving regulatory norms, economic pressures, and unique geopolitical circumstances, financial institutions and next-generation participants are striving to meet compliance standards. They are working to safeguard themselves from financial crimes while managing operational costs and enhancing delivery capabilities. The introduction of new regulations in the financial sector necessitates a dynamic regulatory compliance framework, posing a global management challenge for these institutions.

In response to these challenges, the demand for digital-led FCC offerings is rising. Providers are seizing opportunities to leverage technology in their capabilities, provide platform-led solutions, and co-innovative advisory services to meet the industry’s growing demands. Stakeholders prioritize efficiency and productivity, aiming to reduce false positives and mitigate potential losses from regulatory fines.

Financial Crime and Compliance (FCC) Operations Services

What is in this PEAK Matrix® Report

In this report, we analyze the vision, delivery capabilities, and market successes of 30 FCC operations service providers and their relative position on Everest Group’s PEAK Matrix® for FCC operations. The study will assist key stakeholders, such as banks, financial institutions, FinTechs, RegTechs, service providers, and technology providers, to understand the current FCC operations landscape and make informed sourcing and partnership decisions.
 

This report features 30 FCC operations service provider profiles and includes:

  • Each provider’s relative positioning on Everest Group’s PEAK Matrix® for FCC operations
  • Providers’ market impact
  • Providers’ vision and capability assessment across key dimensions
  • Enterprise sourcing considerations

Scope

  • Industry: BFS
  • Geography: global
  • The assessment is based on Everest Group’s annual RFI process and an ongoing analysis of the FCC operations market

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What is the PEAK Matrix®?

The PEAK Matrix® provides an objective, data-driven assessment of service and technology providers based on their overall capability and market impact across different global services markets, classifying them into three categories: Leaders, Major Contenders, and Aspirants.

LEARN MORE ABOUT Top Service Providers

Property and Casualty (P&C) Insurance BPS PEAK Matrix® Assessment 2023

Property and Casualty (P&C) Insurance BPS

Enterprises have been increasingly turning to P&C insurance BPS providers during the recession to address elevated operating costs resulting from heightened inflation, which has led to increased claims expenses and rate adjustments for various P&C products. Cost reduction has once again become the foremost reason for outsourcing, along with the pursuit of operational efficiency to achieve improved business results. Additionally, there have also been delays in decision making from key enterprise leaders for handing out transformational projects.

Nevertheless, P&C insurance BPS providers are actively seeking opportunities for expansion by enhancing their capabilities in less frequently outsourced areas such as underwriting, actuarial analysis, and claims processing, all of which represent substantial cost centers for enterprises. Additionally, they are presenting transformational initiatives to initial adopters of outsourcing who have yet to fully realize the advantages of partnering with BPS providers to boost efficiency and cut costs, enabling them to sustain and improve growth in a challenging environment.

Insurance BPS 

What is in this PEAK Matrix® Report

In this report, we assess 21 P&C insurance Business Process Services (BPS) providers and position them on Everest Group’s PEAK Matrix® framework as Leaders, Major Contenders, and Aspirants. Each provider profile provides a comprehensive picture of its vision, delivery capabilities, market success, and key strengths and limitations. The report also examines the global P&C insurance BPS market and its provider landscape. The study will assist key stakeholders, such as insurance enterprises, service providers, and technology providers, to understand the current state of the P&C insurance BPS market.
 

This report features 21 P&C service provider profiles, and includes:

  • Providers’ relative positioning on Everest Group’s PEAK Matrix® for P&C insurance BPS
  • Providers’ market impact
  • The evaluation of providers’ vision and capabilities across key dimensions

Scope:

  • Industry: P&C insurance BPS
  • Geography: global
  • In this report, we only cover vertical-specific P&C operations and have omitted horizontal business processes, such as Finance and Accounting (F&A), Human Resources (HR), procurement, and contact center

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What is the PEAK Matrix®?

The PEAK Matrix® provides an objective, data-driven assessment of service and technology providers based on their overall capability and market impact across different global services markets, classifying them into three categories: Leaders, Major Contenders, and Aspirants.

LEARN MORE ABOUT Top Service Providers

Safeguarding the Digital Era: Technology Adoption in Trust and Safety | LinkedIn Live

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Safeguarding the Digital Era: Technology Adoption in Trust and Safety

View the event on LinkedIn, which was delivered live on Wednesday, July 26, 2023. 

💻 As the internet becomes flooded with an ever-increasing volume of information, the universe of toxic content is expanding at an astonishing rate 📈. Enterprises must be able to moderate content in real-time and provide adequate safety features on platforms to ensure a positive experience for users.

An effective tech-based solution can fast-track the moderation process and minimize the necessity for human moderators to go through the toxic content 💬.

📣📣 Watch this LinkedIn Live to hear insights into the latest developments, emerging themes, challenges, and opportunities in the Trust and Safety (T&S) technology landscape 🔒.

What questions does the event answer for the participants?

🌐What is the role of technology in T&S?
🌐What is the current T&S technology landscape, and what are the emerging technologies?
🌐What are the inherent challenges in the adoption of emerging technologies?
🌐How can enterprises maximize RoI on tech investments in T&S?

Banking Operations – Services PEAK Matrix® Assessment 2023

Banking Operations – Services PEAK Matrix® Assessment

The banking operations market has become relatively consolidated at the top, with the leading participants capturing a larger share of the market. Additionally, specialists have entered specific banking segments. Lines of business such as cards and payments and retail banking are growing significantly. Enterprises are focusing on becoming future-ready, agile, and resilient to manage volume fluctuations and staff shortages.

Providers are differentiating themselves by offering as-a-service models and focusing on digital transformation solutions by leveraging analytics, automation, and AI, combined with industry expertise and an advisory-led approach. Additionally, they are leveraging the partnership ecosystem and making new acquisitions to enhance their capabilities and improve the time-to-market of their offerings. Buyers are increasingly partnering with participants capable of providing holistic support in the form of proactive guidance on industry best practices, customer experience design, and faster, cheaper, and better transformative models.

BOperations 1

What is in this PEAK Matrix® Report

In this report, we analyze 34 banking operations service providers and position them on Everest Group’s PEAK Matrix® as Leaders, Major Contenders, and Aspirants based on their capabilities and offerings. The report will assist key stakeholders, such as banks, financial institutions, and providers, in understanding the current banking service provider landscape and make informed sourcing and partnership decisions.

This report features 34 banking operations service provider profiles and includes:

  • Providers’ relative positioning on Everest Group’s PEAK Matrix® for banking operations
  • Providers’ market impact
  • Providers’ vision and capability assessment across key dimensions
  • Enterprise sourcing considerations

Scope:

  • Industry: Banking and Financial Services (BFS)
  • Geography: global
  • The report covers vertical-specific banking operations and does not include horizontal business processes such as Finance and Accounting (F&A), HR, procurement, and contact center
  • This assessment is based on Everest Group’s annual RFI process and an ongoing analysis of the banking operations industry

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What is the PEAK Matrix®?

The PEAK Matrix® provides an objective, data-driven assessment of service and technology providers based on their overall capability and market impact across different global services markets, classifying them into three categories: Leaders, Major Contenders, and Aspirants.

LEARN MORE ABOUT Top Service Providers

Life and Annuities (L&A) Insurance BPS and Third-Party Administrator (TPA) PEAK Matrix® Assessment 2023

Life and Annuities (L&A) Insurance BPS and Third-Party Administrator (TPA) PEAK Matrix® Assessment

The global Life and Annuities (L&A) insurance industry has recovered from the pandemic, but it now faces macroeconomic uncertainties. Going forward, insurers will prioritize cost reduction and may cut back on discretionary spending to save costs. However, they are likely to continue their digital transformation initiatives because of the long-term benefits they offer in terms of process improvements and efficiency gains.

Given the situation, insurers are expected to use outsourcing as a popular cost mitigation strategy, which provides ample growth opportunities for providers. In fact, providers are developing end-to-end capabilities to advance themselves for larger deals as insurers pursue more enterprise-wide transformation. Additionally, insurers face challenges such as evolving customer preferences, product innovation, and legacy systems, which increase the demand for support in areas such as actuarial transformation, underwriting streamlining, and new product launch capabilities. Providers are increasingly investing in these growth areas to differentiate themselves in the market and stay ahead of the competition.

LATPA PEAK 2023

What is in this PEAK Matrix® Report

In this report, we assess 23 L&A insurance Business Process Services (BPS) providers and position them on Everest Group’s PEAK Matrix® framework as Leaders, Major Contenders, and Aspirants. Each provider profile provides a comprehensive picture of its vision, delivery capabilities, market success, and key strengths and limitations. The report also examines the global L&A insurance BPS and Third-party Administrator (TPA) services market and its provider landscape. The study will assist key stakeholders, such as insurance enterprises, service providers, and technology providers, understand the current state of the L&A insurance BPS/TPA market.

This report features 23 L&A service provider profiles, and includes:

  • Providers’ relative positioning on Everest Group’s PEAK Matrix®; for L&A insurance BPS and TPA
  • Providers’ market impact
  • Evaluation of providers’ vision and capabilities across key dimensions

Scope:

  • Industry: L&A insurance BPS/TPA
  • Geography: global
  • In this report, we only cover vertical-specific L&A operations and have omitted horizontal business processes, such as Finance and Accounting (F&A), Human Resources (HR), procurement, and contact center

DOWNLOAD THE FULL LIFE AND ANNUITIES (L&A) INSURANCE BPS AND THIRD-PARTY ADMINISTRATOR (TPA) PEAK MATRIX® ASSESSMENT 2023 

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What is the PEAK Matrix®?

The PEAK Matrix® provides an objective, data-driven assessment of service and technology providers based on their overall capability and market impact across different global services markets, classifying them into three categories: Leaders, Major Contenders, and Aspirants.

LEARN MORE ABOUT Top Service Providers

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