Vendor Analysis
published on Jan 05, 2017
Report Overview:
This NelsonHall vendor assessment analyzes Firstsource's offerings and capabilities in CMS in Retail Banking.
Who is this Report for:
NelsonHall’s CMS in retail banking industry sector profile on Firstsource is a comprehensive assessment of Firstsource’s retail banking sector customer management services (CMS) offerings and capabilities, designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of CMS to serve the retail banking sector and identifying vendor suitability for CMS 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 Firstsource’s retail banking offerings, capabilities, and market and financial strength, including:
- Identification of the company’s strategy, emphasis, and new developments
- Analysis of the company’s strengths, weaknesses, and outlook
- Revenue estimates
- Analysis of the profile of the company’s CMS retail banking customer base, including the company’s targeting strategy and examples of current contracts
- Analysis of the company’s retail banking sector CMS offerings and key service components
- Analysis of the company’s delivery organization including the geography of delivery locations used for CMS retail banking sector clients.
Key Findings & Highlights:
Firstsource Solutions Limited (Firstsource) is a public company headquartered in Mumbai, India, and listed on the Indian National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). Firstsource was founded under the name ICICI Infotech Upstream Ltd in 2001, by Indian ICICI bank as a captive. In 2006, the company was rebranded as Firstsource, and the following year was made an IPO. In 2012, the $1.2bn Indian RP-Sanjiv Goenka Group purchased a majority share in Firstsource. Today, through its subsidiary Calcutta Electric Supply Corporation, RP-Sanjiv Goenka owns approximately 57%, while ICICI bank owns close to 5%.
Firstsource has ~24k employees across 46 delivery centers in five countries. In addition to customer management services and collections, it offers claims processing services and revenue cycle management services to the U.S. healthcare payer and provider sectors.
In 2002, Firstsource began supporting the retail banking industry sector. Its initial client in retail banking was Lloyds Banking Group. It began supporting credit card companies in 2007.
It provides delivery to its CMS retail banking clients from the following locations: U.S., U.K., India, and the Philippines.