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NIIT Technologies - Wealth and Asset Management BPS

NIIT Technologies - Wealth and Asset Management BPS

Who Is This Vendor Assessment For?

NelsonHall’s Wealth and Asset Management BPS Vendor Assessment for NIIT Technologies is a comprehensive assessment of NIIT Tech’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 NIIT Technologies’ offerings and capabilities in wealth and asset management services. NIIT Tech is one of a number of wealth and asset management services companies analyzed in NelsonHall’s comprehensive industry analysis programs.

Overview

NIIT Technologies started its wealth management BPS business in 2008 by beginning an account set-up and maintenance services relationship with a U.S. based leading asset and wealth management company (client), a customer since 1995 and a provider of investment processing services to ~200 banks and investment managers. In 2013, NIIT Tech extended into asset management BPS with the client on asset servicing and transactional processing. The client relationship includes a range of industry-specific processes, of which wealth and asset management has represented 20% to 25% of the overall contract over the years.

Delivery Capabilities

NIIT Technologies’ wealth and asset management BPS unit delivers services from three delivery centers:

Gurgaon

Bangalore

Philadelphia.

The Bangalore center provides operational backup to the Gurgaon center. NIIT Tech runs two shifts from India, which overlap and start four hours prior to opening in the U.S., ending four hours after the U.S. closes. Over time, NIIT Tech expects to expand delivery to 24 hour coverage.

NIIT Tech’s wealth and asset management BPS supports client operations in the U.S. In the near future it expects to add support for U.K. clients.

Target Markets

NIIT Technologies is targeting tier 2 U.S. financial institutions with asset bases of between $10bn and $50bn, in assets under management, which are:

Wealth managers/family offices

Asset managers

Financial advisors

Retirement account administrators.

NIIT Tech’s current clients are organizations headquartered in the U.S.; its key targets are its existing IT services clients which are wealth/asset managers and broker/dealers.

Strategic Direction

NIIT Tech is looking to grow its wealth and asset management BPS business by:

Scaling support for existing clients, primarily customers of asset management firm

Supporting the compliance efforts of clients by applying best practices across multiple tier 2 clients

Enhancing corporate actions services to include voluntary actions (currently only mandatory)

Adding settlement services for stock loan/borrow and OTC/listed derivatives

Creating a BPaaS from the existing client onboarding platform. Adding in functionality for latest security requirements (KYC/AML) and broker to broker account transfer

Cross-selling to CM clients which currently buy IT services (20 CM clients versus three existing wealth and asset management BPS clients).


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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