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Business Services Outsourcing in Banking and Financial Services: 2013 Market Report

February 6, 2013

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The banking and financial services (BFS) industry has endured one of the most turbulent times ever in the history the global financial markets; however, two key questions remain unanswered:

 

  1. Have companies learned from the recent crisis and are they taking meaningful action to prevent a future one?
  2. How will financial institutions conduct business going forward and regain the confidence of their customers and investors?
     

This report outlines the strategic business priorities BFS executives will focus on over the next few years and examines how the outsourcing industry is evolving to support the industry. To that end, HfS Research has assessed:

 

  • Enterprise buyer expectations. To what extent are BFS companies looking to providers to address issues beyond cost?
  • Outsourcing models. Is work returning onshore, moving into a shared services model, or remaining in a third-party model?
  • Market size and forecast. What is the trajectory of the BFS outsourcing market over the next five years?
  • Provider responses. Have providers progressed in supporting client needs, and where are the gaps?
  • Top global providers. How do companies rank in their ability to support the BFS industry?
     

Finally, we provide recommendations for both buyers and providers on how to navigate and leverage the outsourcing and service delivery opportunities in an increasingly complex market environment.

 

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