Firstsource - Analytics and Reporting BPS in Banking
Who Is This Vendor Assessment For?
NelsonHall’s Analytics and Reporting BPS in Banking vendor assessment for Firstsource is a comprehensive assessment of Firstsource’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.
Key Findings & Highlights
This NelsonHall assessment analyzes Firstsource’s offerings and capabilities in analytics and reporting BPS in banking. Firstsource is one of a number of analytics and reporting BPS companies analyzed in NelsonHall’s comprehensive industry analysis programs.
Firstsource started providing analytics services in 2010 as an adjunct service to all of its contact center clients; analytics provided related to agent interaction with customers and identification of key customer issues.
In 2012, Firstsource acquired a tool to provide speech and text analytics. This was deployed across a wide variety of channels (all channels used in the contact centers), and can analyze high volumes of data. Firstsource is able to merge, for analytics purposes, both structured and unstructured data. Clients using this service are mostly based in the U.K. and India. Because of this history in analytics, Firstsource has developed an expertise in analyzing unstructured and structured data in combination.
Firstsource delivers its service from:
Onshore sites: 50% Belfast and 50% client site.
Client geographies supported include:
Due to client requirements for onshore management of customer data, Firstsource will not be expanding its offshore analytics delivery capabilities, but will be expanding its onshore delivery, which will continue to be from Belfast.
All employees in analytics have a green belt (Six Sigma), except the manager of the group who is a master black belt. Each employee is trained in how to use the company’s analytics models; the remainder of training is on the job training.
Firstsource’s primary targets for analytics and reporting BPS are:
Banks headquartered in the U.K.
Banks headquartered in India.
In future, Firstsource will continue to target mid-tier financial institutions based in the U.K., and will add U.S. banks (where it provides collections BPS).
Firstsource’s analytics and reporting BPS strategy is to:
Focus on customer care and management processes
Combine unstructured and structured data (i.e. speech and text) from multiple channels to apply analytics techniques and develop insights
Pursue U.K. based banks, primarily regional banks, to expand its client base to a new geography.
Over the next year, Firstsource will extend this strategy to include:
Increased onshore delivery, to address client concerns about location of customer data, and expand range of analytics processes that clients are willing to outsource
Enhance predictive capabilities of its data analytics offerings.
Firstsource has developed its capabilities over the years, from data acquisition to data analysis of current state, and now to predictive analysis. Firstsource intends to maintain its analytics focus on customer management.