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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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    • Three Key Predictions for Banking in 2026

      Jan 07, 2026, by Andy Efstathiou

        The financial sector is facing slowing global economies, declining interest rates, rising unemployment, persistent inflation, and growing armed conflict. Despite these headwinds, stock markets continue to rise, and loan default rates remain low. We anticipate the global economy will ev[...]

    • Capgemini and the Changing Face of Sustainability in Financial Services

      Oct 31, 2025, by Andy Efstathiou

        Since my last ESG Market Assessment published in 2024, the public’s perception of ESG has declined due to public revelations that the carbon emission metrics used by many certifying firms are inconsistent, incomplete, and sometimes misleading. During the past year, ESG practition[...]

    • How GenAI & Process Automation are Transforming Banking Operations

      Oct 28, 2025, by Andy Efstathiou

        I recently completed a global market assessment of how GenAI and process automation are transforming banking operations. Here are some high-level findings. GenAI adoption trends in banking The adoption of GenAI and automation is still very immature, with large institutions being [...]

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