Sykes- CMS in Retail Banking
Who Is This Vendor Assessment For?NelsonHall’s CMS in retail banking industry sector profile on Sykes is acomprehensive assessment of Sykes’ retail banking sector customermanagement services (CMS) offerings and capabilities, designed for:
Sourcing managers monitoring the capabilities of existing suppliers ofCMS to serve the retail banking sector and identifying vendorsuitability for CMS RFPs
Vendor marketing, sales and business managers looking tobenchmark themselves against their peers
Financial analysts and investors specializing in the support servicessector.
Scope of the ReportSykes Enterprises (Sykes) is a U.S. based company with headquarters inTampa, Florida. It offers outsourced customer management services(CMS), primarily in support of the communications, financial services,technology, healthcare, travel, and retail industries. Sykes places anemphasis on providing inbound technical support and customer care.Sykes was founded in 1977 by John H. Sykes, as a small engineeringservices firm in North Carolina, where it serviced IBM, Disney, AT&T,and Pacific Bell. In 1984, it was split into information services andtechnical services divisions, and in the mid-1990s it moved itsheadquarters to Tampa, Florida. Sykes went public, trading on theNASDAQ in 1996. Currently, Sykes has 54k employees including ~42kcontact center agents, located in 70 contact centers in 20 countries,supporting 30 languages. Currently, it has ~300 CMS clients.Sykes has its roots in high tech, as its first client was a computer hardwareand software manufacturer. It initially provided technical support for thehigh-tech sector for a number of years, including the provision oftechnical documents for its clients. About a decade ago, when thetelecommunications sector began increasing its outsourcing, Sykes shiftedto providing more outsourced customer care and technical support.Sykes acquired ICT Group, Inc. in 2010; ICT had been providing CMSsupport for retail banks since 1990. Capital One has been a client throughICT since 1990. The ICT acquisition doubled Sykes’ business in the retailbanking sector, and the work was primarily customer care and customeracquisition. Business with an Australian bank also came through the ICTacquisition.Financial services is Sykes’ third largest industry sector, and this businessis primarily from retail banking clients. The support which Sykes provides includes supporting banks, cards, deposits, and mortgages.
Scope of the ReportThe report provides a comprehensive and objective analysis of Sykes’retail banking offerings, capabilities, and market and financial strength, including:
Identification of the company’s strategy, emphasis and newdevelopments
Analysis of the company’s strengths, weaknesses and outlook
Analysis of the profile of the company’s CMS retail banking customerbase, including the company’s targeting strategy and examples ofcurrent contracts
Analysis of the company’s retail banking sector CMS offerings andkey service components Analysis of the company’s delivery organization including thegeography of delivery locations used for CMS retail banking sectorclients.
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