Vendor Analysis
published on Jul 25, 2016
Report Overview:
This NelsonHall assessment analyzes FIS' offerings and capabilities in retail banking services. FIS is one of a number of retail banking services companies analyzed in NelsonHall’s comprehensive industry analysis programs.
Who is this Report for:
NelsonHall’s retail banking BPS vendor assessment for FIS is a comprehensive assessment of FIS’ retail banking BPS offerings and capabilities designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of capital market process outsourcing and identifying vendor suitability for retail banking BPS RFPs
- Vendor marketing, sales and business managers looking to benchmark themselves against their peers
- Financial analysts and investors specializing in the support services sector.
Scope of this Report:
The report provides a comprehensive and objective analysis of FIS’ retail
banking BPS offerings, capabilities, and market and financial strength,
including:
- Identification of the company’s strategy, emphases and new developments
- Analysis of the company’s strengths, weaknesses and outlook
- Revenue estimates
- Analysis of the profile of the company’s customer base including the company’s targeting strategy and examples of current contracts
- Analysis of the company’s offerings and key service components
- Analysis of the company’s delivery organization including the location of delivery locations.
Key Findings & Highlights:
This NelsonHall assessment analyzes FIS’ offerings and capabilities in retail banking services. FIS is one of a number of retail banking services companies analyzed in NelsonHall’s comprehensive industry analysis programs.
FIS has been delivering retail banking BPS since 1999. Its initial back-office services targeted deposit operations including:
- Account opening and maintenance
- Transaction disputes and reconciliation.
Prime candidates in need of deposit operation BPS services were direct banks that needed to create back-office operations to deliver a newly formed bank.
FIS has continued to expand its BPS services to financial institutions; services include lending operations, call center services, and collections, to assist in cost reduction for clients.
FIS delivers its BPS services from six U.S. operations centers. In addition, FIS has a delivery center in Gurgaon, where it anticipates increasing staffing to deliver retail banking BPS services in 2017.
The 1.5k member FIS BPS staff are currently performing approximately:
- 2m deposit, savings and loan accounts annually
- 29m calls annually
- $500m collections annually.
FIS partners with third party vendors for the following software used in its retail banking BPS:
- Workflow: nGage solution, hosted at FIS
- Escheatment processing solution: Keane solution
- Social media monitoring: Social IQ.
FIS’ primary targets for retail banking BPS are mid-tier retail banks and subsidiaries of global banks based in the U.S. FIS targets clients with over $5bn in assets.
FIS’ client types include:
- Tier 1 large financial institutions and/or global bank subsidiaries
- Mid-tier banks with >$5bn in assets
- Online banks.