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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.

EXL - Digital Banking Services

Vendor Analysis

by Andy Efstathiou

published on May 03, 2018

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Report Overview:

This NelsonHall assessment analyzes EXL's offerings and capabilities in Digital Banking services. EXL is one of a number of banking operations services companies analyzed in NelsonHall’s comprehensive industry analysis programs.  

Who is this Report for:

NelsonHall’s Digital Banking Services Vendor Assessment for EXL is a comprehensive assessment of EXL’s Digital Banking Services offerings and capabilities designed for: 

  • Sourcing managers monitoring the capabilities of existing suppliers of capital market process outsourcing and identifying vendor suitability for Digital Banking services 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 EXL’s Digital Banking services 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:

EXL began developing its digital banking service components in the early 2000s. Early initiatives began when it acquired AI capabilities with the mid2006 acquisition of Inductis, a consulting and analytics company which had been engaged in artificial intelligence consulting since 2000. EXL began developing its RPA capabilities in 2010. In RPA, EXL has chosen to focus on data aggregation services such as Dodd-Frank remediation, FATCA, and KYC. In March 2015, EXL acquired RPM which analyzes large consumer data sets, segments populations, and creates lifetime marketing plans and campaigns.

Over the past two years, EXL has begun to formalize its digital banking services around three client challenges: 

  • Customer experience
  • Risk management and compliance 
  • Operations processing efficiency (primarily mortgage and loan  processing).  

EXL has brought its digital offerings to market in response to client business  challenges.


Table of contents:

Table of contents:

  • Background
  • Revenue Summary
  • Key Offerings
  • Delivery Capability and Partnerships
  • Pricing and Contract terms
  • Changes to Operations
  • Target Markets
  • Strategy
  • Strengths and Challenges
  • Strengths
  • Challenges
  • Outlook

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