NelsonHall’s Retail Banking BPS Vendor Assessment for WNS is a comprehensive assessment of WNS’ 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 WNS’ offerings and capabilities in retail banking services. WNS is one of a number of retail banking services companies analyzed in NelsonHall’s comprehensive industry analysis programs. In 2006, WNS started its retail banking BPS business with the acquisition of Trinity Partners, a mortgage processing BPS vendor, to pursue the mortgage services business. WNS’ RB BPS business grew, primarily from mortgage servicing contracts, until the economic downturn. As the financial crisis accelerated, the mortgage BPS business shrank in terms of revenues (~50%) and clients, consistent with industry experience. Since 2011 however, the mortgage BPS business has been growing. Over the years, WNS has added retail banking BPS services across the entire range of bank products, including payments, deposits, and loans.
WNS delivers its service from ten delivery centers: Gurgaon Mumbai Pune Nasik Bangalore Chennai Colombo, Sri Lanka Cape Town Manila Columbia, S.C.
Client geographies supported include: - U.S. - U.K. - ROW.
WNS’ primary targets for retail banking BPS are: Regional and superregional banks headquartered in the U.S. Payments services vendors headquartered in the U.K. Leading retail banks in headquartered in Middle East, Australia, South Africa, and India.
In future, WNS will continue to target mid-tier banks based in the U.S., U.K. and Australia, with assets north of $30,000m. WNS’ retail banking BPS strategy is to:
- Develop long term partnerships based on operational excellence and providing “skin in the game” (WNS investments in operations for clients such as captive acquisition) Enhance its customer marketing and support offerings Engage with new/existing customers in an outcome based pricing modelTarget niche markets such as AML compliance offerings along with risk analytics Provide clients without relevant offshore operational experience with consulting and transition management services, to facilitate the creation of offshore operations and emerging markets entry (e.g., BOT) Provide continuing operational savings from process management skills (i.e. Six Sigma management techniques) and scale operations.