Key Findings & Highlights:

The M&L industry is adapting to new business conditions where they need to increase agility to deal with cyclicality and launch new products in a shorter time frame. Data management has moved to the center of what is needed to address consumer needs and new customer acquisitions. Operations need to be able to scale up/down with higher accuracy and a very low cost of delivery.

M&L services vendors are moving from engagements providing CX to engagements reskilling employees,  providing data management, and opening platforms Vendors are focusing on three activities:

• Transforming workforce skills from origination to default management and from IT support to transformation
• Improving data management
• Open platforms to enable an ecosystem of partners to deliver greater value to customers.

Tier 1 lenders are looking for increasing operational agility with process automation and migration to the cloud. Smaller lenders require productized solutions and BPS/BPaaS services. All managers are increasing their data management and process automation buy.

In the future, clients will continue to focus on data management and migrate to a hybrid multi-cloud. Operational delivery will become agile to support reducing time-to-market and support volume fluctuations. Services vendors will expand their presence with regional/local lenders by entering new markets and productizing offerings. They will also expand their work with specialty and commercial lenders using automation as a hook. Finally, services vendors will support tier one lenders and services vendors with cloud migration and reduced time to market .