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NIIT - Transforming Wealth and Asset Management Services
Vendor Analysis
published on May 20, 2019
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Report Overview:
This NelsonHall assessment analyzes NIIT's offerings and capabilities in Transforming Wealth and Asset Management Services
Who is this Report for:
NelsonHall’s Transforming Wealth and Asset Management Services Vendor Assessment for NIIT is a comprehensive assessment of NIIT’s Wealth and Asset Management Services offerings and capabilities designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of capital market process outsourcing and identifying vendor suitability for Wealth and Asset Management 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 Wealth and Asset Management services 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:
In 2008, NIIT Tech started its wealth management business with a U.S. based leading asset and wealth management company (client), a customer since 1995 and a provider of investment processing services to ~200 banks and 7.3k+ investment managers. The W&A services relationship began delivering account set-up and maintenance BPS services. In 2013, NIIT Tech extended into asset management services with the same client, providing asset servicing and transactional processing. The client relationship includes a range of industry-specific processes, of which wealth and asset management have represented 20% to 25% of the overall contract over the years.
In 2012, NIIT Tech began its investment in building digital technologies capabilities. Since then it has:
- Made investments in digital, automation, and IMS (IP multi-media services) technology capabilities
- Acquired Incessant and Ruletek for their digital integration and business process management capabilities
- Built up a partner ecosystem of digital product vendors
- Built up proprietary IP’s, solutions, frameworks, accelerators to deliver IT services
- Made investments in designing/creating CoE’s, design studios, innovation centers, and labs
- Set up a global BFS transformation team to align IT services to solve industry problems
Since the start of 2018 NIIT Tech has increased its focus on consulting and advisory services for W&A clients. As part of this initiative, NIIT Tech acquired WHISHWORKS (April 2018), which is a midsized IT services and consulting company based in Hyderabad, which specializes in MuleSoft and Big Data technologies.