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Syntel - Analytics and Reporting BPS in Banking

Vendor Analysis

by Andy Efstathiou

published on Aug 28, 2015

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Report Overview:

This NelsonHall assessment analyzes Syntel's offerings and capabilities in analytics and reporting BPS in banking. Syntel is one of a number of analytics and reporting BPS companies analyzed in NelsonHall's comprehensive industry analysis programs.

Who is this Report for:

NelsonHall's Analytics and Reporting BPS in Banking vendor assessment for Syntel is a comprehensive assessment of Syntel's analytics and reporting BPS in banking offerings and capabilities, designed for:

  • Sourcing managers monitoring the capabilities of existing suppliers of capital market process outsourcing and identifying vendor suitability for analytics and reporting BPS in banking 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 Syntel's Analytics and Reporting BPS in 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:

Syntel's banking and financial services KPO activities were founded in 2003, when a global custodian with ~$21 trillion in assets under custody requested help setting up an Indian base of operations. Initially, Syntel provided advice and operational expertise to set up the delivery center, and in the second year the operations were restructured as a joint venture between the client (51%) and Syntel (49%), to address regulatory requirements in India. The client provides managerial oversight and strategic direction, while Syntel is responsible for operational delivery.

In 2004, the global custodian extended the existing BPS relationship to include analytics services, including performance attribution and benchmarking for various portfolios.

Syntel has analytics and reporting employees, consisting of:

  • Benchmark and performance reporting
  • Financial reporting
  • Global reporting
  • Valuations reporting.

Syntel's analytics and reporting BPS delivers services from two delivery centers, in Mumbai and Pune.

Syntel's primary targets for analytics and reporting BPS are:

  • Global custodians and other market service providers
  • Asset managers headquartered in the U.S., U.K. and Europe
  • Existing capital markets clients of Syntel's IT services.

Syntel targets U.S., U.K. and European headquartered financial institutions for analytics and reporting BPS services, which it supports primarily in their home markets. In future, Syntel will continue to target:

  • Wealth managers (primarily mid-tier in the U.S., U.K. and Europe)
  • Global institutions headquartered in the U.S., U.K. and Europe.

Syntel's analytics and reporting BPS focus is on benchmarking and performance attribution, but for the next year, due to regulatory compliance requirements, financial reporting is expected to grow more quickly.

Syntel is looking to grow its analytics and reporting BPS business in the following ways:

  • Helping clients to increase data quality and accuracy, by:
    • Improving the quality of data scrubbing
    • Standardizing data management across multiple geographies
    • Improving client reporting of data maintenance efforts, to increase visibility of management procedures and adapt to changing compliance requirements
  • Increasing support for the analytics and reporting needs of asset managers of the global custodian client
  • Supporting the global custodian with additional analytics and reporting services, as required
  • Supporting the compliance efforts of clients
  • Providing project based LEAN improvements to reporting processes
  • Creating a reporting utility (RaaS), which will be focused on disclosure documents for investment funds.

The primary focus in the next 12 months will be:

  • Process automation
  • Creating a reporting as a service (RaaS) offering
  • Supporting client responses to regulatory reform
  • Supporting reporting on additional alternative investments.

All of Syntel's analytics and reporting BPS engagements involve a broad range of capital markets BPS, IT consulting, and services support, as lead-ins to the analytics and reporting BPS relationship.

For the foreseeable future, Syntel will continue to target major as well as mid-tier wealth and asset managers headquartered in the U.S., U.K. and Europe.

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