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Transforming Financial Services with Cloud, SaaS, and BPaaS Services

Market Analysis

by Andy Efstathiou

published on Mar 16, 2023

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Report Overview:

NelsonHall’s market analysis of Cloud, SaaS, and BPaaS services for the financial services sector consists of 101 pages

Who is this Report for:

NelsonHall’s “Transforming Financial Services with Cloud, SaaS, and BPaaS Services” report is a comprehensive market assessment report designed for:

  • Sourcing managers investigating sourcing developments within the financial services sector
  • Vendor marketing, sales, and business managers developing strategies to target service opportunities within the financial services sector
  • Financial analysts and investors specializing in the financial services sector. 

Scope of this Report:

The report analyzes the global market for Cloud, SaaS, and BPaaS services in the financial services sector and addresses the following questions:

  • What is the current and future market for Cloud, SaaS, and BPaaS services?
  • What is the size and growth of the Cloud, SaaS, and BPaaS services in the banking market by market segment?
  • Within Cloud, SaaS, and BPaaS services, which processes are emerging strongly?
  • What are the market segments for Cloud, SaaS, and BPaaS services and what are their characteristics? What are the drivers, benefits, and inhibitors for each segment? What are vendor capabilities by segment?
  • What technologies and platforms are being utilized and what are the implications by market segment?
  • What are vendor challenges and critical success factors by market segment?
  • How are key vendors positioned within each Cloud, SaaS, and BPaaS services market segment?

Additional topics covered include contract lengths; pricing models; partnerships; acquisitions; delivery center locations and the use of offshoring; and vendor targeting by client size, geography, and industry.

Key Findings & Highlights:

NelsonHall estimates the size of the Cloud, SaaS, and BPaaS services market for the financial services sector was ~$13,985m in 2022 and forecasts that it will grow at 16.1% per year in the period 2022 to 2027.

Kyndryl, Capgemini, TCS, Infosys, and NTT Data lead the global BFS sector Cloud, SaaS, and BPaaS services market.

To succeed, Cloud, SaaS, and BPaaS services vendors must adapt to changes in markets, technology, workforce management, and regulations. Vendors must develop IP, standardize delivery methods, and increase the accuracy of operating outputs.

Vendors will be interested in this report’s insights into the key drivers of client adoption of Cloud, SaaS, and BPaaS services across different types of BFS entity. Similarly, the report will be essential reading for financial institutions buying Cloud, SaaS, and BPaaS services, with our in-depth analysis informing them of what they can achieve now and as the market changes; which are the key professional, managed, and BPS services vendors; and the capabilities of each of those vendors.

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Financial Services Cloud, SaaS & BPaaS 2023

published 2023-01-31 | Project by Andy Efstathiou

This NelsonHall Vendor Evaluation & Assessment Tool (NEAT) analyzes the performance of vendors offering cloud services, SaaS and BPaaS in the Financial Services sector. The NEAT tool allows strategic sourcing managers to assess the capability of vendors across a range of criteria and business situations and identify the best performing vendors overall, and with specific capability in cloud services, SaaS and BPaaS. Vendors evaluated for this NEAT are: Apexon, Avaloq, Capgemini, Coforge, Datamatics, Fidelity Information Services, Happiest Minds, Infosys, LTIMindtree, Quantiphi, Sopra Banking, TCS, and Tech Mahindra. To find out more, contact Guy Saunders at [email protected].
view NEAT report all NEAT reports about NEAT
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