Syntel- FinTech Services in Banking BPS
Who Is This Vendor Assessment For?
NelsonHall’s Retail Banking BPS Vendor Assessment for Syntel is a comprehensive assessment of Syntel’s FinTech offerings and capabilities for the banking industry designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of FinTech services and identifying vendor suitability for banking industry (consumer banking, commercial banking, and capital markets) FinTech
-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 Syntel’s offerings and capabilities in FinTech services for the banking industry. Syntel is one of a number of banking services vendors analyzed in NelsonHall’s comprehensive industry analysis programs.
Syntel is a U.S. headquartered public company that provides technology and business services to global 2000 enterprises.
As of Q3 (ended September 31) 2016, Syntel derived 48.1% of its revenues from the banking industry (BFS).
Syntel’s FinTech services for banking started in 2014 because, based on its knowledge of how technology was developing in the industry, it saw the potential demand for autonomics from banks. Syntel's initial offering, which was deployed internally to support its own BPS operations, was for screen scraper automation. This was later deployed at clients for their internal operations. Its second offering was for automation services for solution development operations, which again has been subsequently deployed at clients.
One of Syntel's major clients for FinTech and other services is a large global custodian. The relationship started in 2003 when the client requested help setting up an Indian base of operations. Initially, Syntel provided advice and operational expertise to set up the delivery center; and in the second year, the operations were restructured as a joint venture between the client (51%) and Syntel (49%), to address regulatory requirements in India. The client provides managerial oversight and strategic direction, while Syntel is responsible for operational delivery. Today, Syntel provides ~6k FTEs to the JV (out of Syntel's ~24k employees).
Scope of the Report
The report provides a comprehensive and objective analysis of Syntel’s FinTech services for banking 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.
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