Firstsource - Retail Banking BPS
Who Is This Vendor Assessment For?
NelsonHall’s retail banking BPS vendor assessment for Firstsource is a comprehensive assessment of Firstsource’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.
Key Findings & Highlights This NelsonHall assessment analyzes Firstsource’s offerings and capabilities in retail banking services. Firstsource is one of a number of retail banking services companies analyzed in NelsonHall’s comprehensive industry analysis programs. Firstsource started its banking BPS business in 2002, and began operations in 2003. Its first client was a tier one banking client in the U.K., which required support for credit card operations. In 2004, Firstsource started delivering customer contact services for the credit card client. Later in 2004, Firstsource acquired ASG (founded in 1995) to start delivering collections services. Firstsource delivers its service from:
Offshore (India, Manila and Sri Lanka) -Onshore sites (U.K. and U.S.). Client geographies supported include:
U.K. U.S. 0 India. The onshore/offshore mix of delivery varies based on client requirements, from 80% onshore to 100% offshore. Firstsource’s primary targets for retail banking BPS are tier one banks and regional banks headquartered in:
U.K. U.S. India. In future, Firstsource will continue to target mid-tier financial institutions based in the U.K., and it will target U.S. banks for collections BPS for auto loan processing. During the past 18 months, Firstsource has grown its business via expansion of existing client engagements. Firstsource’s core client base is in large U.S. and U.K. banks. Over time it needs to expand its client base into the mid-market and start-up vendors across multiple geographies, to establish an RB BPS leadership position.
Scope of the Report
The report provides a comprehensive and objective analysis of Firstsource’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.