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EXL - Analytics and Reporting BPS in Banking

Vendor Analysis

by Andy Efstathiou

published on Sep 24, 2015

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Report Overview:

This NelsonHall assessment analyzes EXL's offerings and capabilities in analytics and reporting BPS in banking. EXL 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 EXL is a comprehensive assessment of EXL'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 EXL'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:

ExlService Holdings, Inc. (EXL) is a public BPS vendor that delivers operations management, analytics and technology solutions from multiple locations around the world, but has most of its delivery capacity located in India.

As of March 31, 2015, EXL had:

  • Employees: 22,800 (85% in India)
  • Clients: 600+
  • Delivery centers: 34 (India: 19, U.S.: 6, Philippines: 5, Bulgaria: 1, Romania: 1, Czech Republic: 1, and Malaysia: 1)
  • Revenues by geography:
    • U.S.: 78.0%
    • U.K.: 18.0%
    • ROW: 4.0%
  • Service mix:
    • BPS (classified by EXL as operations management): 77.1%
    • Analytics and consulting (classified by EXL as analytics and business transformation services): 22.9%.

EXL's annual revenues, as of December 31, 2014, were $499.3m (an increase of 4.3% y/y). The three month revenues for Q1 2015 were $143.5m (an increase of 17.8% y/y, which includes $16.9m in revenues from the acquisition of Overland). The banking and financial services industry (excluding insurance) represented ~12% of EXL's revenues in 2014.

EXL's banking BPS senior management all comes from the banking industry.

This report focuses on analytics and reporting BPS. Analytics is a major line of business for EXL, as indicated by its breakout in EXL's revenue statement.

EXL started in analytics BPS in 2006, with the acquisition of Inductis, which provided analytics and consulting for data analysis, and had a large client base (which EXL was able to up-sell to additional services). Inductis was founded in 2002 with 25 employees; in 2005 it had $20m in revenues and 250 employees. Since then, EXL has grown the analytics business both organically and with additional acquisitions, such as RPM in March 2015 (see Delivery section for capabilities acquired in acquisitions).

EXL delivers services from six delivery centers:

  • India:
    • Noida
    • Gurgaon
    • Bangalore
  • U.S.:
    • New Jersey
    • New York City
  • London
  • Onsite at clients.

EXL's analytics BPS supports client operations in the U.S., U.K., Singapore, South Africa, and Asian markets.

EXL's primary targets for analytics and reporting BPS are financial institutions headquartered in the U.S., U.K., and Asia.

Institution types which are being targeted by EXL are:

  • Global large banks: largest current penetration
  • Regional and super regional banks
  • Multinational payments vendors.

EXL supports its clients in their local national markets. Over time, it expects to have a higher percentage of its analytics clients from the pool of regional and super regional banks. EXL expects to continue to change the mix of analytics services, as clients require, in the highly cyclical banking industry.

EXL has focused on the global FS market for offshore delivery based analytics BPS services. It has focused on marketing and risk model development/validation segments for its analytics and reporting BPS business.

EXL has created a domain competency based its analytics expertise, specifically in:

  • Marketing/sales management
  • Model development and validation.

EXL is looking to increase relevance for its clients, as they grapple with flat revenues and changing regulations which are focused on risk management and reduction. In addition, the consulting services which EXL uses to deliver improved analytics capabilities to its clients are gateway services to a broader set of analytics and reporting BPS.

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