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EXL - Wealth and Asset Management BPS

EXL - Wealth and Asset Management BPS
Who Is This Vendor Assessment For?
NelsonHall’s Wealth and Asset Management BPS Vendor Assessment for EXL is a comprehensive assessment of EXL’s wealth and asset management BPS offerings and capabilities designed for:
Sourcing managers monitoring the capabilities of existing suppliers of capital market process outsourcing and identifying vendor suitability for Wealth and Asset Management 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.

Key Findings & Highlights
This NelsonHall assessment analyzes EXL’s offerings and capabilities in wealth and asset management services. EXL is one of a number of wealth and asset management services companies analyzed in NelsonHall’s comprehensive industry analysis programs.

EXL started in wealth and asset management BPS in 2007, providing BPS services to small wealth management firms in the U.S., including the provision of fund and portfolio accounting services. Over time, EXL has expanded its wealth and asset management services to include a broader range of services (see Key Offerings section) to small wealth managers on a white label basis. EXL has also expanded its range of clients, to include wealth and asset management divisions within top twenty banks, delivering a narrow range of services focused on risk and reporting.

Delivery Capabilities
EXL delivers services from five delivery centers:
New Jersey
New York City

EXL’s wealth and asset management BPS supports client operations in the U.S., U.K., South Africa, and Asia markets.

Target Markets
EXL’s primary targets for wealth and asset management BPS are financial institutions headquartered in the U.S. and U.K. Institution types which are being targeted by EXL are:
Small and medium size wealth managers: largest current penetration
Tier one global banks and investment firms.
EXL supports its clients in their local national markets. Over time, it expects to continue to increase the proportion of its wealth and asset management BPS clients which come from the pool of regional and local wealth managers.

Strategic Direction
EXL has focused on the U.S. and U.K. markets for offshore delivery based wealth and asset management BPS services, with a focus on delivering:
Comprehensive fund administration services for small and mid-size wealth managers
Standalone processes including investment research, analytics, and customer onboarding compliance for global financial institutions’ wealth and asset management divisions.
EXL has created a specific domain competency in:
Company screening and equity research
Customer onboarding compliance and reduced quality rejection rates
GIPS reporting benchmarking
Investment fees and servicing cost calculations and review.
It is looking to increase relevance for its clients, as they adapt to 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 wealth and asset management BPS services.
EXL is aiming to grow its wealth and asset management BPS business by:
Pursuing global banks expanding into non-U.S./U.K. markets
Pursuing regional and mid-tier wealth managers requiring a broad range of fund administration services
Expanding the range of analytics processes delivered in support of risk management, compliance, and sales/marketing management
Expanding the use of robotics process automation to increase QA and reduce processing inefficiencies.

1. Background
2. Revenue Summary
3. Key Offerings
4. Delivery Capability and Partnerships
5. Target Markets
6. Strategy
7. Strengths & Challenges
8. Outlook

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