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Syntel - Digital Banking Services

Vendor Analysis

by Andy Efstathiou

published on Mar 22, 2018

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Report Overview:

This NelsonHall assessment analyzes Syntel's offerings and capabilities in Digital Banking services. Syntel is one of a number of banking operations services companies analyzed in NelsonHall’s comprehensive industry analysis programs.  

Who is this Report for:

NelsonHall’s Digital Banking Services Vendor Assessment for Syntel is a comprehensive assessment of Syntel’s Digital Banking Services offerings and capabilities designed for:

  • Sourcing managers monitoring the capabilities of existing suppliers of capital market process outsourcing and identifying vendor suitability for Digital Banking 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 Digital Banking 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:

Syntel began its digital banking services by supporting payment companies in implementing new offerings which required digital enablement to deliver functionality that they did not have in their legacy platforms. The first digital banking engagement was undertaken in 2013 with the Applepay offering, which was delivered via the American Express Bank. Syntel worked on the transaction processing functionality (TPF) and the mainframe platform to support this platform modernization, for the new offering launch.

Syntel has expanded its digital banking capabilities over the past four years on multiple engagements, notably with the addition of loan functionality to the PayPal platform. The unique capability of this lending platform is its ability to generate a lending decision “instantly”. The lending decision is made in milliseconds and appears to be instant to the customer. Syntel’s work in digital banking services is primarily with tier one financial institutions, adapting their legacy platforms to deliver digital banking functionalities.

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