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CSC - FinTech Services in Banking BPS
Vendor Analysis
published on Mar 15, 2017
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Report Overview:
This NelsonHall assessment analyzes CSC’s offerings and capabilities in FinTech services for the banking industry. CSC is one of a number of banking services vendors analyzed in NelsonHall’s comprehensive industry analysis programs.
Who is this Report for:
NelsonHall’s Retail Banking BPS Vendor Assessment for CSC is a comprehensive assessment of CSC’s FinTech offerings and capabilities for the banking industry, designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of FinTech services and identifying vendor suitability for banking industry (consumer banking, commercial banking, and capital markets) FinTech services 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 CSC’s FinTech services for banking offerings, capabilities, and market and financial strength, including:
- Identification of the company’s strategy, emphases and new developments
- Analysis of the company’s strengths, weaknesses and outlook
- Revenue estimates
- Analysis of the profile of the company’s customer base including the company’s targeting strategy and examples of current contracts
- Analysis of the company’s offerings and key service components
- Analysis of the company’s delivery organization including the location of delivery locations.
Key Findings & Highlights:
CSC's first initiative in FinTech services began six years ago with the design and implementation of cloud delivery for its internal operations. The purpose of the cloud initiative was to:
- Reduce cost of IT maintenance and operation in order to shift funds to innovate and change operations (i.e., adapt to changing markets and increase efficiency)
- Create improved customer experience by innovating operational delivery, which is easier from a centralized rather than siloed delivery platform.
In 2013, to enhance its cloud delivery capabilities CSC acquired ServiceMesh, a vendor of an enterprise cloud management platform. The Agility Platform allows clients to automate the deployment and management of enterprise applications and platforms across private, public and hybrid cloud environments. CSC’s Agility Platform has a target client base of enterprises in highly regulated industries, including financial services and healthcare.
CSC began its FinTech services in banking in 2013, with an engagement at a non-U.S. bank for cloud delivery of mortgage origination. The bank had independent originators work on its system, pulling data as required from independent bank systems. It wanted to improve client and agent experience and reduce TAT, experience, and cost. CSC delivered a hybrid cloud to the client for third party mortgage origination.
As a result of the merger between CSC and the Enterprise Services business of Hewlett Packard Enterprise, the number of FinTech staff will double. Organic revenues will not be impacted by the headcount increase, but once the two organizations are integrated, revenue growth should accelerate due to the ability to cross-sell capabilities across legacy client bases.