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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.

Syntel - Reference Data Management BPO

Vendor Analysis

by Andy Efstathiou

published on May 07, 2014

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Report Overview:

This NelsonHall assessment analyses Syntel's offerings and capabilities in reference data management BPO. Syntel is one of a number of reference data management BPO companies analyzed in NelsonHall's comprehensive industry analysis programs.

Who is this Report for:

NelsonHall's Reference Data Management BPO Vendor Assessment for Syntel is a comprehensive assessment of Syntel's reference data management BPO (RDM BPO) offerings and capabilities designed for:

  • Sourcing managers monitoring the capabilities of existing suppliers of capital market process outsourcing and identifying vendor suitability for RDM 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 Syntel's reference data management 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:

Overview

Syntel's RDM BPO services grew out of a relationship with a global custodian, which began in 2003 when the global custodian requested help in setting up an Indian base of operations. Initially, Syntel provided advice and operational expertise to set up the delivery center, and in the second year the operations were restructured as a joint venture between the client and Syntel to address regulatory requirements in India. The client owns 51% of the business and provides managerial oversight and strategic direction; Syntel owns 49% of the business and is responsible for operational delivery.

In 2004, the global custodian extended the existing BPO relationship to include reconciliation of trades for funds under custody. As the relationship matured, more functions were migrated to the Syntel offshore delivery center and RDM services was one such critical process. Today Syntel provides RDM BPO services for thirty clients of this global custodian.

Delivery Capabilities

Syntel RDM BPO delivers service from two delivery centers:

  • Mumbai
  • Pune

Target Markets

Syntel's primary targets for RDM BPO are:

  • Global custodian and other market service providers
  • Global banks headquartered in the U.S.
  • Asset managers headquartered in U.S. and Europe
  • Existing capital markets clients of Syntel's IT services.

Syntel targets U.S. and European headquartered global banks for RDM BPO services, and supports them primarily in their home markets. In the future Syntel will continue to target:

  • Global institutions headquartered in the U.S. and Europe
  • Asset managers of all sizes (as part of servicing a global custodian).

The focus in RDM is equally on securities and account data, but for the next year, due to regulatory compliance requirements, account data RDM BPO is expected to grow faster.

Strategic Direction

Syntel is looking to grow its RDM BPO business by:

  • Helping global clients reduce the cost of data management and increase data quality and accuracy, by:
    • Consolidating and standardizing data silos
    • Consolidating data feeds, scrubbing data received, and eliminating redundant purchases
    • Improving client reporting of data maintenance efforts to increase visibility into management procedures and adapt to changing compliance requirements.

Table of contents:

Table of contents:

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

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