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Andy Efstathiou

Andy Efstathiou is the Services Director of NelsonHall's Banking Operations Transformation practice.

Andy has global responsibility for banking industry research and client support, covering the transformation and delivery of Mortgage & Loan, Wealth & Asset Management, and Banking Automation services.

Andy has been part of NelsonHall's analyst team since 2005, providing in-depth coverage of worldwide banking industry markets. He is well-known as the world's leading financial services operations analyst and is frequently quoted in industry media. He assists buy-side organizations in understanding vendor capabilities and making critical sourcing decisions, and supports technology services and BPS vendor organizations in assessing opportunities and refining their go-to-market strategies. Andy is a leading voice on how AI, process automation, and platform modernization are revolutionizing the financial services industry.

Before joining NelsonHall, Andy worked at global banks for 20 years and in consulting for 10 years. His operational experience includes key roles in managing customer and counterparty operations with other financial institutions. He also advised regulatory agencies and investment banks on operational issues and business performance.

Andy has a B.A. in economics from Harvard College and an M.B.A. from Stanford. He lives in Massachusetts with his wife, Nancy, and their two children. When not working, Andy enjoys sailing, hiking, and traveling.

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    Latest blog posts by Andy Efstathiou:

    • How Mortgage & Loan Operational Services Are Transforming

      Jul 18, 2025, by Andy Efstathiou

        I recently completed a global market assessment of mortgage and loan operations services. I found that the mortgage and loan industry is restructuring at a faster pace than at any time since the Savings and Loan Crisis of the early 1990s, as mergers and divestitures have increased in s[...]

    • Capgemini Launches GenAI-based KYC Offering for Operational Flexibility

      Jun 18, 2025, by Andy Efstathiou

        In this blog, I look at the growing requirement for operational flexibility in banking, and at a specific KYC initiative from Capgemini aimed at addressing this. Industry trends Financial institutions and regulators are increasing their financial crime and compliance (FCC) activi[...]

    • TCS MasterCraft: Using GenAI to Improve Legacy Software Remediation

      Jun 02, 2025, by Andy Efstathiou

      GenAI is being tested by enterprises to identify the value it can bring to their operations. In 2024, the BFSI industry undertook more GenAI testing and POCs than any other industry. However, many POCs were unsuccessful because of limitations in data sets, processing power, and digital processes[...]

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