Vendor Analysis
published on Jul 13, 2016
Report Overview:
This NelsonHall assessment analyzes Concentrix’s offerings and capabilities in retail banking services. Concentrix is one of a number of retail banking services companies analyzed in NelsonHall’s comprehensive industry analysis programs.
Who is this Report for:
NelsonHall’s retail banking BPS vendor assessment for Concentrix is a comprehensive assessment of Concentrix’s retail banking BPS offerings and capabilities designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of capital market process outsourcing and identifying vendor suitability for retail banking BPS 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 Concentrix’s retail banking BPS 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:
Concentrix is the business services division of Synnex. In September 2013, Synnex announced that it was to acquire the customer management services business of IBM. The operations divested by IBM which became part of Concentrix included its contact center business, together with agent based processing services for banks, insurers and healthcare clients. However, IBM retained its BPS business covering platform based mortgage origination and servicing for the U.S. market, along with its F&A, procurement and supply chain management, and HR BPS activities. Synnex entered into a multi-year agreement with IBM, becoming an IBM strategic partner for global CMS services. After the sale, IBM retained its own mortgage BPS business entirely separate from that of Concentrix.
Concentrix’s retail banking BPS business centers are distributed by geography as follows:
- North America
- Europe
- Middle East
- LATAM
- APAC.
Concentrix anticipates growing its retail banking BPS staffing levels in existing centers with existing clients, over the next twelve months in North America and APAC. The growth is expected both onshore and offshore.
Concentrix’s primary targets for retail banking BPS are:
- Tier 1 banks headquartered in any geography
- Tier 2 and regional banks in developed markets
- Banks based in emerging economies
- Digital banks located anywhere
- Payment services and processing companies
- Payment services from non-financial institutions.
