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Business Process Services in the Retail Banking Sector: 2017

Market Analysis

by John Willmott

published on Dec 21, 2017

Access to this report is restricted to logged in clients with access. Login to get full access

Report Overview:

NelsonHall’s “Business Process Services in the Retail Banking Sector: 2017” 82-page report is based on global interviewing of senior executives across the retail banking sector in four geographies: U.S., U.K., Continental Europe, and Asia Pacific.

In particular, the report analyzes the principal business issues faced by retail banks, the operational transformation initiatives planned in response to these issues, and the use of automation in support of their transformational initiatives.

It then addresses the impact of automation and digitalization on their use of BPO and the extent to which automation complements and creates new opportunities within BPO itself.

Who is this Report for:

NelsonHall’s “Business Process Services in the Retail Banking Sector: 2017” report is a comprehensive market assessment report designed for:

  • Sourcing managers investigating sourcing developments within the retail & commercial banking sector
  • Vendor marketing, sales and business managers developing strategies to target business process services (BPS) opportunities within the retail & commercial banking sector
  • Financial analysts and investors specializing in the IT services and BPS sector.

Scope of this Report:

The report is based on interviews with executives in the retail banking sector in the U.S., U.K., Continental Europe, and Asia Pacific.

The report analyzes the worldwide market for business process services (BPS or BPO) within the retail banking sector and addresses the following questions:

  • What are the principal business issues faced by organizations in the retail banking sector?
  • What operational initiatives are planned by organizations in the retail & commercial banking sector?
  • What specific operational initiatives are planned in support of cost reduction and revenue generation?
  • Which processes are the targets of process transformation initiatives and what are the planned initiatives by process?
  • How important are automation and BPS as approaches to process transformation?
  • What is the expected level of impact of political factors on the sourcing and shoring of retail banks?
  • What approaches to automation do retail banks expect to take over the next 12-months?
  • What impact will automation & digitalization have on white-collar staffing both internally and within supplier organizations?
  • To what extent is automation & digitalization creating additional opportunity for BPS vendors?
  • To what extent will retail banks increase their use of BPS by process area?

Key Findings & Highlights:

The retail banking sector is in a state of flux and continuing to change rapidly with evolving customer expectations driven by the growing use of digital means to access the market commoditizing the sector’s products and services. The need for a seamless customer experience across products and services is forcing organizations to rearchitect their business and operating models. Simultaneously, regulators across the globe are placing greater demands on the banking sector to have effective controls, compliance and security to reduce overall risks. The combination of all these are placing greater financial pressures as margins shrink. Indeed, despite the high rate of change in recent years, retail banks, particularly those in the U.S. and U.K. expect the rate of change in their industry to continue to increase.

In response, retail banks are:

  • Seeking to achieve end-to-end digitalization both to enhance their customer experience and offer digital banking products as well as to increase the level of automation of their back-office operations
  • Combining BPS and automation to achieve operational transformation.

As a result, digitalization is creating additional opportunities for BPS vendors alongside the cannibalization of existing services.

Table of contents:

Table of contents:

  • Introduction
  • Objectives
  • Methodology
  • Structure of the Report
  • Executive Summary
  • Retail Banks Seeking End-to-End Process Digitalization
  • BPS Together with Automation Key to Operational Transformation
  • 42% of Retail Banks Will Allow BPS Vendors to Retain Numbers of Contract Personnel by Extending Process Scope
  • Market Forecast
  • BPS Market Shares
  • Market Trends
  • The Digital Business Model
  • Retail Banks as Utilities - Increased Commoditization
  • Physical Assets being Replaced by Digital Presence
  • Universalization of the Retail Banking Product - Bringing Down the Walls
  • Rearchitecting Processes and the Technology Infrastructure
  • The Data Explosion
  • The Retail Banking Experience – Changing Customer Expectations
  • Proliferation of the interaction channels for the customer
  • The Rise of the “Digital Experience”
  • Macro-Economic Shifts
  • Growing Regulatory Pressures
  • Identifying New Avenues of Growth
  • The Talent Conundrum
  • Key Business Issues & Initiatives
  • Key Business Issues
  • Key Organizational initiatives
  • Getting Fit
  • Preparing for the Future
  • Operational Transformation Initiatives
  • Process Transformation Intentions
  • Approach to Operational Transformation
  • Use of BPS to Drive Operation Transformation
  • Impact of PESTLE Factors on Sourcing and Shoring
  • Impact of Automation on Sourcing & Shoring
  • Impact of Digital Transformation on Staffing & BPO
  • Resource reduction
  • Emerging roles in the digital technology space
  • Shift from the use of contingent staff to BPO suppliers

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