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Andy Efstathiou

Andy is the Banking Sourcing Research Director at NelsonHall where he has global responsibility for Retail and Commercial Banking BPS, Capital Markets BPS, and RPA, AI, and FinTech services in Banking, including consulting, design & deploy, and operations support.

Cognizant - Capital Markets BPO

Vendor Analysis

by Andy Efstathiou

published on Feb 10, 2014

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Report Overview:

This NelsonHall assessment analyses Cognizant's offerings and capabilities in capital markets BPO. Cognizant is one of a number of capital markets BPO companies analyzed in NelsonHall's comprehensive industry analysis programs.

Who is this Report for:

NelsonHall's Retail Banking BPO Vendor Assessment for Cognizant is a comprehensive assessment of Cognizant's retail banking BPO (RB BPO) offerings and capabilities designed for:

  • Sourcing managers monitoring the capabilities of existing suppliers of capital market process outsourcing and identifying vendor suitability for CM BPO 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 Cognizant's capital markets BPO 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:

Cognizant is a vendor of consulting, IT and BPO services. It was founded in 1994 as an internal services provider to Dun and Bradstreet. Cognizant became independent in 1996, and went public in 1998. Cognizant is headquartered in the U.S. and delivers services primarily from offshore (mostly India).

Cognizant's CM BPO revenues are generated primarily from securities processing in brokerage and private equity fund accounting. Cognizant's CM BPO clients buy consulting, ITS and BPO.

Cognizant is targeting:

  • Tier 1 multinational financial institutions for their brokerage, investment banking, and asset management units
  • Tier 1 and 2 private equity firms.

Targets are based in:

  • North America: U.S. and Canada
  • Europe: U.K., Switzerland, and Germany.

Cognizant CM BPO delivers services from seven primary delivery centers:

  • Hyderabad
  • Mumbai
  • Pune
  • Chennai
  • Manila
  • Singapore
  • Shanghai.

Cognizant's CM BPO strategy going forward is to:

  • Develop platform based BPO services to go after mid-tier and private equity firms
  • Provide CM BPO services coupled with platform modernization (ITS/BPO services)
  • Expand its service lines, focusing on accounting and administration services for asset managers and securities valuation services for investment banking and brokerage.

Table of contents:

Table of contents:

  • Background
  • Revenue Summary
  • Key Offerings
  • Delivery Capability and Partnerships
  • Delivery
  • Pricing and Contracts 
  • Changes to Operations
  • Platforms and Intellectual Property
  • Target Markets
  • Strategy
  • Strengths and Challenges
  • Strengths
  • Challenges
  • Outlook

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