
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.
Contact Andy Efstathiou
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Reports by Andy Efstathiou:
UST - Transforming Intelligent Automation in Banking
Apr 05, 2023 | Vendor Analysis by Andy Efstathiou
This NelsonHall vendor assessment analyzes UST’s offerings and capabilities in intelligent automation for the banking and financial services sector [...]view this reportdownload abstractTransforming Financial Services with Cloud, SaaS, and BPaaS Services
Mar 16, 2023 | Market Analysis by Andy Efstathiou
NelsonHall’s market analysis of Cloud, SaaS, and BPaaS services for the financial services sector consists of 101 pages [...]view this reportdownload abstractTCS - Transforming Financial Services with Cloud, SaaS, and BPaaS Services
Jan 18, 2023 | Vendor Analysis by Andy Efstathiou
This NelsonHall vendor assessment analyzes TCS' offerings and capabilities in Cloud, SaaS, and BPaaS services for the banking and financial services sector [...]view this reportdownload abstractSopra Banking Software - Transforming Financial Services with Cloud, SaaS, and BPaaS Services
Jan 09, 2023 | Vendor Analysis by Andy Efstathiou
This NelsonHall vendor assessment analyzes Sopra Banking Software's offerings and capabilities in Cloud, SaaS, and BPaaS services for the banking and financial services sector [...]view this reportdownload abstractHappiest Minds - Transforming Financial Services with Cloud, SaaS, and BPaaS Services
Jan 05, 2023 | Vendor Analysis by Andy Efstathiou
This NelsonHall vendor assessment analyzes Happiest Minds' offerings and capabilities in Cloud, SaaS, and BPaaS services for the banking and financial services sector [...]view this reportdownload abstract
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Latest blog posts by Andy Efstathiou:
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How Mortgage & Loan Operational Services Are Transforming
Jul 18, 2025, by Andy EfstathiouI recently completed a global market assessment of mortgage and loan operations services. I found that the mortgage and loan industry is restructuring at a faster pace than at any time since the Savings and Loan Crisis of the early 1990s, as mergers and divestitures have increased in s[...]
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Capgemini Launches GenAI-based KYC Offering for Operational Flexibility
Jun 18, 2025, by Andy EfstathiouIn this blog, I look at the growing requirement for operational flexibility in banking, and at a specific KYC initiative from Capgemini aimed at addressing this. Industry trends Financial institutions and regulators are increasing their financial crime and compliance (FCC) activi[...]
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TCS MasterCraft: Using GenAI to Improve Legacy Software Remediation
Jun 02, 2025, by Andy EfstathiouGenAI is being tested by enterprises to identify the value it can bring to their operations. In 2024, the BFSI industry undertook more GenAI testing and POCs than any other industry. However, many POCs were unsuccessful because of limitations in data sets, processing power, and digital processes[...]
Commented Tracking service articles:
Worldline Launches a Metaverse Showroom to Bridge the Gap between the Network of Virtual and Real Worlds for e-Commerce Merchants
May 31, 2022 | New Offerings by Andy Efstathiou
Worldline Acquires 51% Stake for $340m in Commercial Acquiring Business of ANZ Bank
Dec 14, 2020 | Mergers and Acquisitions by Andy Efstathiou
TSYS Awarded API Software Contract by FPS Trust Company for Healthcare Related APIs
Oct 05, 2015 | Contracts by Andy Efstathiou
Jack Henry Announces it is Processing EMV Debit Card Payments for Mastercard and VIsa
Sep 29, 2015 | New Offerings by Andy Efstathiou
Jack Henry Announces Fiscal Q4 2015 Revenues Up 5.9% to $333.7m
Aug 25, 2015 | Financial Results by Andy Efstathiou