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Banking BPO

Market Forecast:
2014 2018

NelsonHall 2013

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About NelsonHall
NelsonHall provides buy-side and sell-side organizations with deeper research and analyses in front
office, mid-office and back office BPO than any other research firm in the world. The companys
subscription-based model provides subscribers with robust market analyses, case studies, vendor
assessments, contract analyses, market reports and access to a content-rich BPO contracts database.
The firm covers a wide range of industries including financial services, government and utilities sectors,
and tracks worldwide and regional BPO activity. NelsonHalls home page is www.nelson-hall.com.
The company tracks business services activity. In particular, NelsonHall focuses on the following business
services and process areas:

Front-office banking BPO


Middle Office industry-specific processing services such as network and work management
Back office support services such as HR services, finance & accounting services, and procurement
services
NelsonHall provides information to its clients in a variety of forms, including within:

NelsonHalls BPO subscription services, to assist organizations in developing sourcing strategies and
in supporting individual sourcing projects including vendor short-list development

Workshops, to assist organizations in identifying the most appropriate areas of BPO for their
organization

Business case development, to assist organizations in deciding whether BPO is appropriate for
individual processes

Custom assessments, to assist buy-side organizations in benchmarking individual processes and to


assist vendors in successfully taking BPO concepts to market.

For more details, contact:


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BANKING BPO MARKET FORECAST: 2014-2018

Abstract
The purpose of this study is to provide vendors and users with a market forecast of the global banking
BPO market by geography and service type.
The study complements the market assessments and analyses that are produced within NelsonHalls
BPO Subscription Services, and is designed for:

Marketing, sales and business managers developing strategies to target service opportunities within
the BPO market

Executives in purchasing organizations seeking an understanding of:


Banking BPO market size & growth by geography
Banking BPO market segmentation
Banking BPO vendor market shares globally and by geography

Consultants advising clients on vendor selection


Financial analyst specializing in the support services sector.
The term business process outsourcing (BPO) is defined as the outsourcing of business functions or
processes. In order to qualify under this definition BPO contracts must involve the vendor taking
responsibility for operational management of the business activity. For the purposes of this definition, IT
services do not count as a business function.
Potential BPO activities include:

Front-office services
Document management including billing services
Customer management services BPO

Middle-office administration services


Industry-specific processing services e.g. card processing services

Back-office support services


Finance & accounting services, including purchase-to-pay, order-to-cash, and record-to-report
HR Services including payroll services, HR administration services, managed recruitment services
and training provision and administration
Services for procurement of indirect goods and services

Copyright 2014 by NelsonHall. All rights reserved. Printed in the United Kingdom. No part of the publication may be
reproduced or distributed in any form, or by any means, or stored in a database or retrieval system, without the prior
written permission of the publisher.
The information provided in this report shall be used only by the employees of and within the current corporate structure of
NelsonHalls clients, and will not be disclosed to any other organization or person including parent, subsidiary, or affiliated
organization without prior written consent of NelsonHall.
NelsonHall exercises its best efforts in preparation of the information provided in this report and believe the information
contained herein to be accurate. However, NelsonHall shall have no liability for any loss or expense that may result from
incompleteness or inaccuracy of the information provided.

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BANKING BPO MARKET FORECAST: 2014-2018

Table of Contents
Abstract

Introduction

A. Objectives

B. Scope and Definitions

C. Methodology

10

D. Structure of the Report

12

Banking BPO Forecast by Region

13

A. Global Overview

13

B. North America

14

C. EMEA

17

D. Asia Pacific

24

E. Latin America

25

Banking BPO Vendor Market Shares and Market Forecast by Service Type

26

A. Banking BPO

26

B. Core Banking

38

C. Mortgage BPO

41

D. Payment Services

47

E. Securities Processing

56

Appendix

62

A. EMEA

62

B. Asia Pacific

69

C. Latin America

73

Reconciliation

77

Global Overview

77

North America

78

United States

78

Canada

79

EMEA

79

United Kingdom

80

France

80

Germany

81

Italy

81

RoEMEA

82

Asia Pacific

82

Central and Latin America

83

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BANKING BPO MARKET FORECAST: 2014-2018

List of Exhibits
Banking BPO Market Forecast by Market Segment Global: 2014 2018

13

Banking BPO Market Forecast by Market Segment North America: 2014 2018

14

Banking BPO Market Forecast by Market Segment United States: 2014 2018

15

Banking BPO Market Forecast by Market Segment Canada: 2014 2018

16

Banking BPO Market Forecast by Market Segment EMEA: 2014 2018

17

Banking BPO Market Forecast by Market Segment United Kingdom: 2014 2018

18

Banking BPO Market Forecast by Market Segment Germany: 2014 2018

19

Banking BPO Market Forecast by Market Segment France: 2014 2018

20

Banking BPO Market Forecast by Market Segment Italy: 2014 2018

21

Banking BPO Market Forecast by Market Segment RoCE: 2014 2018

22

Banking BPO Market Forecast by Market Segment Africa & Middle East: 2014 2018

23

Banking BPO Market Forecast by Market Segment Asia Pacific: 2014 2018

24

Banking BPO Market Forecast by Market Segment Central & Latin America: 2014 2018

25

Global BPO Market Forecast by Region: 2014 2018

26

Estimated Banking BPO Market Shares Global: 2013

27

Estimated Banking BPO Market Shares North America: 2013

29

Estimated Banking BPO Market Shares United States: 2013

30

Estimated Banking BPO Market Shares Canada: 2013

31

Estimated Banking BPO Market Shares EMEA: 2013

32

Estimated Banking BPO Market Shares United Kingdom: 2013

33

Estimated Banking BPO Market Shares France: 2013

34

Estimated Banking BPO Market Shares Germany: 2013

34

Estimated Banking BPO Market Shares Italy: 2013

35

Estimated Banking BPO Market Shares RoCE: 2013

35

Estimated Banking BPO Market Shares Africa & Middle East: 2013

36

Estimated Banking BPO Market Shares Asia Pacific: 2013

36

Estimated Banking BPO Market Shares Central & Latin America: 2013

37

Global Core Banking BPO Market Forecast by Region: 2014 2018

38

Estimated Core Banking BPO Market Shares Global: 2013

38

Estimated Core Banking BPO Market Shares North America: 2013

39

Estimated Core Banking BPO Market Shares United States: 2013

39

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BANKING BPO MARKET FORECAST: 2014-2018

Estimated Core Banking BPO Market Shares EMEA: 2013

40

Estimated Core Banking BPO Market Shares U.K.: 2013

40

Estimated Core Banking BPO Market Shares Asia-Pac: 2013

40

Global Mortgage BPO Market Forecast by Region: 2014 2018

41

Estimated Mortgage BPO Market Shares Global: 2013

42

Estimated Mortgage BPO Market Shares North America: 2013

43

Estimated Mortgage BPO Market Shares United States: 2013

44

Estimated Mortgage BPO Market Shares EMEA: 2013

45

Estimated Mortgage BPO Market Shares U.K: 2013

46

Estimated Mortgage BPO Market Shares Asia-Pac: 2013

46

Global Payment BPO Market Forecast by Region: 2014 2018

47

Estimated Payment BPO Market Shares Global: 2013

48

Estimated Payment BPO Market Shares North America: 2013

49

Estimated Payment BPO Market Shares United States: 2013

50

Estimated Payment BPO Market Shares Canada: 2013

50

Estimated Payment BPO Market Shares EMEA: 2013

51

Estimated Payment BPO Market Shares United Kingdom: 2013

52

Estimated Payment BPO Market Shares France: 2013

52

Estimated Payment BPO Market Shares Germany: 2013

53

Estimated Payment BPO Market Shares Italy: 2013

53

Estimated Payment BPO Market Shares RoCE: 2013

54

Estimated Payment BPO Market Shares Africa & Middle East: 2013

54

Estimated Payment BPO Market Shares Asia Pacific: 2013

55

Estimated Payment BPO Market Shares Central & Latin America: 2012

55

Global Securities Processing Market Forecast by Region: 2014 2018

56

Estimated Securities BPO Market Shares Global: 2013

57

Estimated Securities BPO Market Shares North America: 2013

57

Estimated Securities BPO Market Shares United States: 2013

58

Estimated Securities BPO Market Shares Canada: 2013

58

Estimated Securities BPO Market Shares EMEA: 2013

59

Estimated Securities BPO Market Shares United Kingdom: 2013

59

Estimated Securities BPO Market Shares Germany: 2013

60

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BANKING BPO MARKET FORECAST: 2014-2018

Estimated Securities BPO Market Shares France: 2013

60

Estimated Securities BPO Market Shares RoCE: 2013

61

Estimated Securities BPO Market Shares Asia Pacific: 2013

61

Banking BPO Market Forecast by Market Segment Switzerland & Austria: 2014 2018

62

Banking BPO Market Forecast by Market Segment Eastern Europe: 2014 2018

63

Banking BPO Market Forecast by Market Segment Nordics & Finland: 2014 2018

64

Banking BPO Market Forecast by Market Segment Benelux: 2014 2018

65

Banking BPO Market Forecast by Market Segment Other Europe: 2014 2018

66

Banking BPO Market Forecast by Market Segment Africa: 2014 2018

67

Banking BPO Market Forecast by Market Segment Middle East: 2014 2018

68

Banking BPO Market Forecast by Market Segment China: 2014 2018

69

Banking BPO Market Forecast by Market Segment India: 2014 2018

70

Banking BPO Market Forecast by Market Segment Japan: 2014 2018

71

Banking BPO Market Forecast by Market Segment Other Asia: 2014 2018

72

Banking BPO Market Forecast by Market Segment Argentina: 2014 2018

73

Banking BPO Market Forecast by Market Segment Brazil: 2014 2018

74

Banking BPO Market Forecast by Market Segment Mexico: 2014 2018

75

Banking BPO Market Forecast by Market Segment Other Latin America: 2014 2018

76

Global Banking BPO Market Reconciliation by Service Type

77

North America Banking BPO Market Reconciliation by Service Type

78

United States Banking BPO Market Reconciliation by Service Type

78

Canada Banking BPO Market Reconciliation by Service Type

79

EMEA Banking BPO Market Reconciliation by Service Type

79

United Kingdom Banking BPO Market Reconciliation by Service Type

80

France Banking BPO Market Reconciliation by Service Type

80

Germany Banking BPO Market Reconciliation by Service Type

81

Italy Banking BPO Market Reconciliation by Service Type

81

RoEMEA Banking BPO Market Reconciliation by Service Type

82

Asia Pacific Banking BPO Market Reconciliation by Service Type

82

Central and Latin America Banking BPO Market Reconciliation by Service Type

83

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BANKING BPO MARKET FORECAST: 2014-2018

Introduction
A. Objectives
The purpose of this study is to provide vendors and users with a view of the current and future market
size of the global Banking BPO marketplace by geography and market segment.
The study complements the market assessments and analyses that are produced within NelsonHalls
Banking BPO subscription program, and is designed for:

Marketing, sales and business managers developing strategies to target service opportunities within
the BPO market

Executives in purchasing organizations seeking an understanding of:


Banking BPO market size & growth by geography
Banking BPO market segmentation
Banking BPO vendor market shares globally and by geography

Consultants advising clients on vendor selection


Financial analysts specializing in the support services sector.

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BANKING BPO MARKET FORECAST: 2014-2018

B. Scope and Definitions


This study covers industry-specific banking business process outsourcing (BPO).
Business process outsourcing is defined as the outsourcing of business functions or processes. In order
to qualify under this definition, BPO contracts must involve the vendor in taking responsibility for the
delivery of the function concerned. For the purposes of this definition, stand-alone IT services do not
count as a business function, though there may be a significant IT services component embedded within
a wider business process outsourcing service.

Core Banking BPO


Core banking BPO covers the outsourcing of core account administration in support of deposit services,
client data services (CIF), general ledger services, loan services, and reporting services. However, the
outsourcing of account administration services in support of mortgage processing, payments processing,
securities processing, and channel management services are specifically excluded from core banking
BPO and are included elsewhere within these definitions.

Mortgage & Loan BPO


This service line consists of BPO services in support of mortgage origination and administration services
for prime residential, sub-prime residential, and commercial mortgages and loan origination and
administration in support of personal loans e.g. automotive loans. The mortgage and loan BPO market is
broken down into two segments:

Origination Services, covering the outsourcing of customer acquisition, underwriting services


account set-up and data entry, and credit and compliance checking in support of mortgages and
personal loans
Sales, process of marketing and sales of mortgages and loans to consumers
Fulfilment services, process of gathering data, completing applications, conducting due diligence,
and closing mortgages and loans

Mortgage and loan administration, covering the outsourcing of:


Servicing, including both customer servicing such as name changes, customer service and
correspondence handling, and secondary market services, including securitization, portfolio
servicing, and investor reporting
Default and collections, including collections, payment processing, loan accounting, and
foreclosure services.

Payment Processing
This service line consists of the outsourcing of those processes involved in banking payment
processes including support for customer initiation and vendor validation of payment request,
transmission of payment to target institutions, and crediting of target accounts. The payments
processing BPO market is broken down into three segments:

Check processing, covering outsourcing of transaction capture, transaction execution including check
presentment, and transaction posting and reconciliation

Credit card processing, covering outsourcing of card issuing and merchant acceptance services in
addition to transaction capture, execution, and posting services

EFT services, covering the outsourcing of transaction capture, execution, and posting for electronic
funds transfer such as debit and credit transfers and ATM outsourcing.

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BANKING BPO MARKET FORECAST: 2014-2018

Securities Processing
Securities processing BPO consists of outsourcing elements of the processing of financial securities such
as shares. Securities processing BPO is broken down into two segments:

Portfolio Services, including the outsourcing of transfer agency, fund accounting and administration,
and custody services. This service line is further broken down into:
Reference data management, covering the management, processing, and distribution of
reference and pricing data, which are tables of static data (primarily price data) providing historic
information for future analysis
Portfolio accounting and reporting, consisting of

Reconciliation services, covering transaction and valuation dispute resolution. An


accounting process used to compare two sets of records to ensure the figures are in
agreement and are accurate

Other portfolio accounting, covering custody, transfer agency, securities lending,


securities positions, valuations, gains/losses, portfolio income, corporate actions
processing, shareholder accounting, portfolio reporting, compliance reporting, and
performance attribution/analytics.

Trade Services, including the outsourcing of trade execution & capture, order routing, and trade
matching and settlement services.

Geographic Coverage
North America
United States
Canada

EMEA
United Kingdom
France
Germany
Italy
Other EMEA

Asia Pacific
Latin America

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BANKING BPO MARKET FORECAST: 2014-2018

C. Methodology
NelsonHalls market sizing and forecasting for each service line is primarily carried out by analysts
specializing in, and constantly researching, the service line through ongoing senior executive interviews
and production of detailed service line market analyses and vendor assessments.
NelsonHall market sizing and forecasting is based on the following steps:
Establish base year BPO revenues for each vendor by service line
The first step in NelsonHalls methodology is to establish the base year (in this case 2012) global
revenues for each vendor by service line.
These base year vendor revenue figures are estimated for each service line in turn by the NelsonHall
analyst responsible for that service line. NelsonHall is unique in having analysts specifically dedicated to
each BPO domain, e.g. HR outsourcing, F&A outsourcing, procurement outsourcing, banking industryspecific BPO, insurance industry-specific BPO, government industry-specific BPO, banking BPO, with
recent market analysis studies typically having been carried out within the major service lines within
each BPO domain e.g. within HR outsourcing, NelsonHall has recently carried out market analyses and
vendor assessments for each of payroll outsourcing, benefits administration, recruitment process
outsourcing, and learning BPO.
The basis of the service line base year revenue estimate for each vendor is the following sources:

Published financial information from annual reports, SEC filings, and financial analyst presentations.
For example many of the leading banking BPO vendors such as Teleperformance and Convergys
publish financial accounts clearly showing their global CMS revenues. Elsewhere for example in many
areas of industry-specific BPO, F&A outsourcing, and HR outsourcing, this published financial
information is less available

Vendor senior executive interviewing by BPO service line, together with NelsonHalls vendor
assessments and market analyses by BPO service line. For example, each year a NelsonHall analyst
interviews all the major RPO vendors obtaining revenue estimates for their RPO businesses as part of
the production of RPO vendor assessments and the RPO market analysis. Similar senior executive
interviewing by service line takes place within NelsonHalls HR Outsourcing program for payroll
outsourcing, benefits administration, and learning BPO, with similar patterns of analyst activity across
NelsonHalls other BPO programs. This coverage of the individual service lines within BPO at the
market analysis and vendor assessment level is vital in supporting the base year vendor revenues by
service line, since this senior executive interviewing by the analyst responsible for the service line is a
primary source of vendor revenue data by service line. Accordingly NelsonHall has unequalled access
to detailed vendor BPO service line revenues due to its dedicated analyst focus on each of these
areas.
These base year figures by service line are then reconciled with the estimates of overall BPO revenues
for each vendor to ensure that double counting or other sources of error have not occurred and final
global BPO service line base year revenues are established for each vendor across all applicable BPO
service lines.
Establish base year BPO revenues for each vendor by service line and geography
Once the global base year revenue for each vendor has been established by BPO service line, then the
NelsonHall analyst specializing in that service line allocates the global service line revenues for each
vendor by geography.
This allocation is based as before on:

Published financial information from annual reports, SEC filings, and financial analyst presentations,
where available

Vendor senior executive interviewing by BPO service line, together with NelsonHalls vendor
assessments and market analyses by BPO service line. The NelsonHall analyst specializing in the

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BANKING BPO MARKET FORECAST: 2014-2018

service line will typically have already estimated vendor revenues by geography based on senior
executive interviewing when producing market analyses and vendor assessments for that service
line and this knowledge and experience is vital in establishing accurate vendor revenues by BPO
service line and geography

Vendor contract activity by service line and geography. Here NelsonHall analysts capture all available
(publicly or otherwise) contract data by service line and geography. Again the contracts are typically
captured by the analyst specializing in, and dedicated to, the individual service line
Establish base year market sizes by service line and geography
The steps above deliver a series of vendor revenues for each combination of service line and geography.
The next step is to produce base year market sizes for each combination of service line and geography.
This is done individually by country and service line with the NelsonHall market analyst specializing in
that service line estimating the market concentration (i.e. market share accounted for by the known
vendors in that market) for each combination of service line and geography. Again this is typically
supported by the fact that that the analyst has recently produced a global market analysis covering the
service line and so has already developed a perspective on the market concentrations within the service
line for each country.
Where necessary however, the market concentration is adjusted at this stage and correspondingly the
market size for the combination of service line and geography revised.
The individual service line market sizes by country and geography are then aggregated from the bottom
up to give regional and global market sizes by BPO service line.
At this point the base year market sizes and vendor market shares by service line are established by
country and region.

Subcontracting
Vendor revenues have been quoted including all revenues from contracts, including those where
services are subcontracted to other BPO vendor organizations.

Estimates
All vendor revenues quoted within this report are NelsonHall estimates, and have been rounded as
appropriate. In addition, all estimates are for the latest published financial year at the time the report
data was gathered.

Exchange Rates
All exchange rates used within this report are $1.24=1 and $1.52=1

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BANKING BPO MARKET FORECAST: 2014-2018

D. Structure of the Report


The report is structure into the following chapters:
Chapter I: Introduction
Chapter II: Banking Market Forecast by Region, including:

Global Overview
North America
EMEA
Asia Pacific
Latin America.
Chapter III: Banking Market Forecast by Service Type, including:

Banking BPO
Core Banking
Mortgage BPO
Payment Services
Securities Processing
Chapter IV: Appendix
Chapter V: Reconciliation

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BANKING BPO MARKET FORECAST: 2014-2018

Banking BPO Forecast by Region


A. Global Overview
Exhibit II-1 provides the estimated size and forecasted growth of the industry-specific banking BPO
market by market segment.
Exhibit II-1

Banking BPO Market Forecast by Market Segment


Global: 2014 2018
Est.
market
size 2013

Service Type
Banking

Est.
market
size 2014

Est.
market
size 2018

Growth
2013 2014

CAAGR
2014 - 2018

90,318

94,105

108,550

4.2%

3.6%

_Core Banking

4,024

4,177

4,850

3.8%

3.8%

_Mortgage and Loan BPO

8,961

9,287

10,665

3.6%

3.5%

__Origination Services

2,453

2,537

2,905

3.4%

3.4%

491

506

573

3.1%

3.2%

___Fulfilment

1,962

2,031

2,332

3.5%

3.5%

__Mortgage and Loan Administration

6,508

6,750

7,760

3.7%

3.6%

___Servicing

4,776

4,964

5,785

3.9%

3.9%

___Default and collections

1,732

1,786

1,975

3.1%

2.6%

31,820

32,886

37,593

3.3%

3.4%

1,556

1,525

1,407

-2.0%

-2.0%

__Credit card processing

27,023

28,010

32,357

3.7%

3.7%

___Merchant acquiring

18,352

19,147

22,681

4.3%

4.3%

___Card issuing

8,671

8,863

9,676

2.2%

2.2%

__EFT Services

3,241

3,350

3,830

3.4%

3.4%

_Securities

45,513

47,755

55,442

4.9%

3.8%

__Portfolio Services

37,439

39,316

45,368

5.0%

3.6%

425

454

555

6.7%

5.2%

37,014

38,862

44,813

5.0%

3.6%

560

590

728

5.4%

5.4%

36,454

38,272

44,085

5.0%

3.6%

8,074

8,439

10,074

4.5%

4.5%

___Sales

_Payment
__Check processing

___Reference data management


___Portfolio accounting and reporting
____Reconciliation services
____Other portfolio accounting
__Trade Services

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BANKING BPO MARKET FORECAST: 2014-2018

B. North America
Exhibits II-2 to II-4 provides details of the industry-specific banking BPO market forecasts by segment for
North America, incorporating the United States and Canada.
Exhibit II-2

Banking BPO Market Forecast by Market Segment


North America: 2014 2018
Est. market Est. market Est. market
Growth CAAGR 2014
size 2013
size 2014
size 2018 2013 - 2014
- 2018

Service Type
Banking

46,629

48,540

55,806

4.1%

3.6%

_Core Banking

1,136

1,175

1,346

3.5%

3.5%

_Mortgage and Loan BPO

5,901

6,114

7,010

3.6%

3.5%

__Origination Services

1,282

1,325

1,513

3.4%

3.4%

___Sales

256

264

297

3.0%

3.0%

___Fulfilment

1,026

1,061

1,217

3.5%

3.5%

__Mortgage and Loan Administration

4,619

4,789

5,497

3.7%

3.5%

___Servicing

3,233

3,362

3,929

4.0%

4.0%

___Default and collections

1,386

1,427

1,568

3.0%

2.4%

19,958

20,657

23,730

3.5%

3.5%

479

469

433

-2.0%

-2.0%

__Credit card processing

17,433

18,070

20,867

3.7%

3.7%

___Merchant acquiring

_Payment
__Check processing

11,691

12,213

14,527

4.5%

4.4%

___Card issuing

5,742

5,857

6,340

2.0%

2.0%

__EFT Services

2,046

2,118

2,430

3.5%

3.5%

_Securities

19,634

20,594

23,720

4.9%

3.6%

__Portfolio Services

15,475

16,238

18,481

4.9%

3.3%

215

230

279

6.8%

5.0%

15,260

16,009

18,202

4.9%

3.3%

220

233

292

5.8%

5.8%

15,040

15,776

17,910

4.9%

3.2%

4,159

4,356

5,239

4.7%

4.7%

___Reference data management


___Portfolio accounting and reporting
____Reconciliation services
____Other portfolio accounting
__Trade Services

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BANKING BPO MARKET FORECAST: 2014-2018

Exhibit II-3

Banking BPO Market Forecast by Market Segment


United States: 2014 2018
Est. market Est. market Est. market
Growth CAAGR 2014
size 2013
size 2014
size 2018 2013 - 2014
- 2018

Service Type
Banking

42,883

44,658

51,419

4.1%

3.6%

_Core Banking

1,033

1,069

1,227

3.5%

3.5%

_Mortgage and Loan BPO

5,726

5,934

6,809

3.6%

3.5%

__Origination Services

1,226

1,268

1,449

3.4%

3.4%

___Sales

245

253

284

3.0%

3.0%

___Fulfilment
__Mortgage and Loan
Administration
___Servicing

981

1,015

1,165

3.5%

3.5%

4,500

4,667

5,360

3.7%

3.5%

3,150

3,276

3,832

4.0%

4.0%

___Default and collections

1,350

1,391

1,527

3.0%

2.4%

18,552

19,208

22,110

3.5%

3.6%

400

392

362

-2.0%

-2.0%

__Credit card processing

16,245

16,842

19,484

3.7%

3.7%

___Merchant acquiring

10,894

11,384

13,576

4.5%

4.5%

___Card issuing

5,351

5,458

5,908

2.0%

2.0%

__EFT Services

1,907

1,974

2,265

3.5%

3.5%

_Securities

17,572

18,447

21,273

5.0%

3.6%

__Portfolio Services

13,811

14,507

16,530

5.0%

3.3%

_Payment
__Check processing

___Reference data management


___Portfolio accounting and
reporting
____Reconciliation services

195

209

254

7.0%

5.0%

13,616

14,299

16,276

5.0%

3.3%

200

212

268

6.0%

6.0%

____Other portfolio accounting

13,416

14,087

16,009

5.0%

3.3%

3,761

3,940

4,743

4.8%

4.8%

__Trade Services

NelsonHall 2014

15
NelsonHall Proprietary Not for distribution without permission

July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Exhibit II-4

Banking BPO Market Forecast by Market Segment


Canada: 2014 2018
Est. market Est. market Est. market
Growth CAAGR 2014
size 2013
size 2014
size 2018 2013 - 2014
- 2018

Service Type
Banking

3,746

3,882

4,387

3.6%

3.1%

_Core Banking

103

106

119

3.0%

3.0%

_Mortgage and Loan BPO

175

180

201

2.7%

2.9%

__Origination Services

56

58

64

2.8%

2.8%

___Sales

11

11

12

2.0%

2.0%

___Fulfilment

45

46

52

3.0%

3.0%

119

122

137

2.7%

2.9%

___Servicing

83

86

97

3.0%

3.0%

___Default and collections

36

36

40

2.0%

2.6%

1,406

1,449

1,619

3.1%

2.8%

79

77

71

-2.0%

-2.0%

__Mortgage and Loan Administration

_Payment
__Check processing
__Credit card processing

1,188

1,228

1,383

3.3%

3.0%

___Merchant acquiring

797

829

951

4.0%

3.5%

___Card issuing

391

399

432

2.0%

2.0%

__EFT Services

139

144

165

3.5%

3.5%

_Securities

2,062

2,147

2,447

4.1%

3.3%

__Portfolio Services

1,664

1,731

1,951

4.0%

3.0%

20

21

26

5.0%

5.0%

1,644

1,710

1,925

4.0%

3.0%

___Reference data management


___Portfolio accounting and reporting
____Reconciliation services
____Other portfolio accounting
__Trade Services

NelsonHall 2014

20

21

24

4.0%

4.0%

1,624

1,689

1,901

4.0%

3.0%

398

416

496

4.5%

4.5%

16
NelsonHall Proprietary Not for distribution without permission

July 2014

BANKING BPO MARKET FORECAST: 2014-2018

C. EMEA
Exhibits II-5 to II-11 provides details of the industry-specific banking BPO market forecasts by market
segment for EMEA overall and additionally for the U.K., France, Germany, and Italy.
Exhibit II-5

Banking BPO Market Forecast by Market Segment


EMEA: 2014 2018
Est. market Est. market Est. market
Growth CAAGR 2014
size 2013
size 2014
size 2018 2013 - 2014
- 2018

Service Type
Banking

29,603

30,906

35,647

4.4%

3.6%

1,791

1,858

2,149

3.7%

3.7%

_Mortgage and Loan BPO

960

993

1,132

3.4%

3.3%

__Origination Services

421

436

501

3.5%

3.6%

_Core Banking

___Sales

84

87

98

3.2%

3.2%

___Fulfilment

337

349

403

3.6%

3.7%

__Mortgage and Loan Administration

539

557

631

3.3%

3.2%

___Servicing

377

390

446

3.4%

3.4%

___Default and collections

162

167

185

3.3%

2.6%

8,808

9,075

10,255

3.0%

3.1%

772

757

698

-2.0%

-2.0%

__Credit card processing

7,211

7,467

8,591

3.5%

3.6%

___Merchant acquiring

5,014

5,216

6,113

4.0%

4.1%

___Card issuing

2,197

2,251

2,478

2.4%

2.4%

825

851

967

3.2%

3.2%

_Securities

18,044

18,980

22,111

5.2%

3.9%

__Portfolio Services

15,259

16,074

18,664

5.3%

3.8%

165

176

216

6.5%

5.3%

15,094

15,898

18,448

5.3%

3.8%

280

294

358

5.1%

5.1%

14,814

15,604

18,089

5.3%

3.8%

2,785

2,906

3,448

4.4%

4.4%

_Payment
__Check processing

__EFT Services

___Reference data management


___Portfolio accounting and reporting
____Reconciliation services
____Other portfolio accounting
__Trade Services

NelsonHall 2014

17
NelsonHall Proprietary Not for distribution without permission

July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Exhibit II-6

Banking BPO Market Forecast by Market Segment


United Kingdom: 2014 2018
Est. market Est. market Est. market
Growth CAAGR 2014
size 2013
size 2014
size 2018 2013 - 2014
- 2018

Service Type
Banking

8,026

8,391

9,658

4.6%

3.6%

_Core Banking

500

519

600

3.7%

3.7%

_Mortgage and Loan BPO

514

530

599

3.2%

3.1%

__Origination Services

262

271

310

3.4%

3.4%

52

54

61

3.0%

3.0%

___Fulfilment

210

217

249

3.5%

3.5%

__Mortgage and Loan Administration

252

260

290

3.0%

2.8%

___Servicing

176

182

205

3.0%

3.0%

76

78

85

3.0%

2.3%

2,368

2,434

2,728

2.8%

2.9%

305

299

276

-2.0%

-2.0%

__Credit card processing

1,838

1,903

2,189

3.5%

3.6%

___Merchant acquiring

1,285

1,336

1,563

4.0%

4.0%

___Card issuing

553

567

626

2.5%

2.5%

__EFT Services

225

232

263

3.2%

3.2%

_Securities

4,644

4,908

5,731

5.7%

4.0%

__Portfolio Services

3,699

3,920

4,554

6.0%

3.8%

65

70

85

7.0%

5.3%

3,634

3,851

4,468

6.0%

3.8%

___Sales

___Default and collections


_Payment
__Check processing

___Reference data management


___Portfolio accounting and reporting
____Reconciliation services
____Other portfolio accounting
__Trade Services

NelsonHall 2014

120

126

153

5.0%

5.0%

3,514

3,725

4,315

6.0%

3.8%

945

988

1,178

4.5%

4.5%

18
NelsonHall Proprietary Not for distribution without permission

July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Exhibit II-7

Banking BPO Market Forecast by Market Segment


Germany: 2014 2018
Est. market Est. market Est. market
Growth CAAGR 2014
size 2013
size 2014
size 2018 2013 - 2014
- 2018

Service Type
Banking
_Core Banking

4,781

5,009

5,775

4.8%

3.6%

215

224

262

4.0%

4.0%

_Mortgage and Loan BPO

76

78

89

3.2%

3.2%

__Origination Services

26

27

30

3.0%

3.0%

3.1%

3.0%

___Fulfilment

21

21

24

3.0%

3.0%

__Mortgage and Loan Administration

50

52

59

3.4%

3.3%

___Servicing

35

36

42

3.5%

3.5%

___Default and collections

15

15

17

3.0%

2.8%

1,730

1,785

2,024

3.2%

3.2%

80

78

72

-2.0%

-2.0%

__Credit card processing

1,500

1,551

1,774

3.4%

3.4%

___Merchant acquiring

1,044

1,086

1,270

4.0%

4.0%

___Card issuing

456

465

503

2.0%

2.0%

__EFT Services

150

155

178

3.5%

3.5%

_Securities

2,760

2,923

3,400

5.9%

3.9%

__Portfolio Services

2,580

2,735

3,176

6.0%

3.8%

___Sales

_Payment
__Check processing

___Reference data management


___Portfolio accounting and reporting
____Reconciliation services
____Other portfolio accounting
__Trade Services

NelsonHall 2014

30

32

39

6.0%

5.3%

2,550

2,703

3,137

6.0%

3.8%

50

53

67

6.0%

6.0%

2,500

2,650

3,070

6.0%

3.8%

180

188

224

4.5%

4.5%

19
NelsonHall Proprietary Not for distribution without permission

July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Exhibit II-8

Banking BPO Market Forecast by Market Segment


France: 2014 2018
Est. market Est. market Est. market
Growth CAAGR 2014
size 2013
size 2014
size 2018 2013 - 2014
- 2018

Service Type
Banking

5,523

5,729

6,473

3.7%

3.1%

161

166

187

3.0%

3.0%

_Mortgage and Loan BPO

27

28

31

2.7%

2.6%

__Origination Services

_Core Banking

10

10

11

2.8%

2.8%

___Sales

2.0%

2.0%

___Fulfilment

3.0%

3.0%

__Mortgage and Loan Administration

17

17

19

2.6%

2.5%

___Servicing

12

12

13

2.5%

2.5%

2.9%

2.5%

1,275

1,312

1,477

2.9%

3.0%

100

98

90

-2.0%

-2.0%

___Default and collections


_Payment
__Check processing
__Credit card processing

1,035

1,070

1,223

3.4%

3.4%

___Merchant acquiring

716

745

871

4.0%

4.0%

___Card issuing

319

325

352

2.0%

2.0%

__EFT Services

140

144

164

3.1%

3.2%

_Securities

4,060

4,223

4,779

4.0%

3.1%

__Portfolio Services

3,560

3,703

4,170

4.0%

3.0%

20

21

25

5.0%

4.3%

3,540

3,682

4,146

4.0%

3.0%

___Reference data management


___Portfolio accounting and reporting
____Reconciliation services
____Other portfolio accounting
__Trade Services

NelsonHall 2014

40

42

49

4.0%

4.0%

3,500

3,640

4,097

4.0%

3.0%

500

520

608

4.0%

4.0%

20
NelsonHall Proprietary Not for distribution without permission

July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Exhibit II-9

Banking BPO Market Forecast by Market Segment


Italy: 2014 2018
Est. market Est. market Est. market
Growth CAAGR 2014
size 2013
size 2014
size 2018 2013 - 2014
- 2018

Service Type
Banking

1,123

1,171

1,340

4.3%

3.4%

_Core Banking

59

61

69

3.3%

3.3%

_Mortgage and Loan BPO

32

33

37

3.3%

3.1%

__Origination Services

3.1%

3.1%

___Sales

3.7%

3.4%

___Fulfilment

3.0%

3.0%

__Mortgage and Loan Administration

24

25

28

3.3%

3.1%

___Servicing

17

17

20

3.5%

3.5%

3.1%

2.3%

437

448

498

2.6%

2.7%

37

36

33

-2.0%

-2.0%

__Credit card processing

350

361

407

3.0%

3.1%

___Merchant acquiring

244

253

290

3.5%

3.5%

___Card issuing

106

108

117

2.0%

2.0%

__EFT Services

50

51

58

2.5%

3.1%

_Securities

595

629

736

5.7%

4.0%

__Portfolio Services

515

546

638

6.0%

4.0%

___Default and collections


_Payment
__Check processing

___Reference data management


___Portfolio accounting and reporting
____Reconciliation services
____Other portfolio accounting
__Trade Services

NelsonHall 2014

6.0%

4.8%

510

540

632

6.0%

4.0%

10

10

12

4.0%

3.3%

500

530

620

6.0%

4.0%

80

83

97

4.0%

4.0%

21
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Exhibit II-10

Banking BPO Market Forecast by Market Segment


RoCE: 2014 2018
Est. market Est. market Est. market
Growth CAAGR 2014
size 2013
size 2014
size 2018 2013 - 2014
- 2018

Service Type
Banking

8,777

9,157

10,612

4.3%

3.8%

_Core Banking

722

746

848

3.4%

3.3%

_Mortgage and Loan BPO

171

176

200

3.2%

3.1%

__Origination Services

55

57

64

3.0%

3.0%

___Sales

11

11

13

2.6%

2.6%

___Fulfilment

44

45

51

3.1%

3.1%

116

120

136

3.2%

3.2%

___Servicing

81

84

95

3.2%

3.3%

___Default and collections

35

36

40

3.3%

3.0%

2,414

2,480

2,768

2.7%

2.8%

200

196

181

-2.0%

-2.0%

__Credit card processing

1,979

2,042

2,317

3.2%

3.2%

___Merchant acquiring

1,372

1,421

1,640

3.6%

3.6%

___Card issuing

607

621

678

2.2%

2.2%

__EFT Services

235

242

270

2.8%

2.8%

_Securities

5,470

5,754

6,797

5.2%

4.3%

__Portfolio Services

4,520

4,763

5,622

5.4%

4.2%

40

43

53

6.8%

5.7%

4,480

4,721

5,569

5.4%

4.2%

__Mortgage and Loan Administration

_Payment
__Check processing

___Reference data management


___Portfolio accounting and reporting
____Reconciliation services
____Other portfolio accounting
__Trade Services

NelsonHall 2014

30

32

38

5.1%

4.9%

4,450

4,689

5,531

5.4%

4.2%

950

991

1,175

4.3%

4.3%

22
NelsonHall Proprietary Not for distribution without permission

July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Exhibit II-11

Banking BPO Market Forecast by Market Segment


Africa & Middle East: 2014 2018
Est.
market
size 2013

Est.
market
size 2014

Est.
market
size 2018

Growth
2013 2014

CAAGR
2014 - 2018

1,373

1,449

1,788

5.5%

5.4%

_Core Banking

134

143

184

6.5%

6.5%

_Mortgage and Loan BPO

140

147

176

4.9%

4.7%

__Origination Services

60

63

77

5.1%

5.1%

___Sales

12

13

15

4.7%

4.7%

___Fulfilment

48

50

62

5.2%

5.2%

__Mortgage and Loan Administration

80

84

99

4.7%

4.4%

___Servicing

56

59

71

4.8%

4.8%

___Default and collections

24

25

29

4.5%

3.4%

584

616

760

5.4%

5.4%

50

49

45

-2.0%

-2.0%

__Credit card processing

509

540

680

6.1%

6.0%

___Merchant acquiring

353

375

478

6.2%

6.3%

___Card issuing

156

165

202

5.7%

5.2%

Service Type
Banking

_Payment
__Check processing

__EFT Services

25

27

34

6.3%

6.4%

_Securities

515

544

668

5.6%

5.3%

__Portfolio Services

385

407

503

5.8%

5.4%

7.0%

6.5%

380

402

496

5.8%

5.4%

30

32

40

5.8%

5.8%

____Other portfolio accounting

350

370

457

5.8%

5.4%

__Trade Services

130

136

165

4.9%

4.9%

___Reference data management


___Portfolio accounting and reporting
____Reconciliation services

NelsonHall 2014

23
NelsonHall Proprietary Not for distribution without permission

July 2014

BANKING BPO MARKET FORECAST: 2014-2018

D. Asia Pacific
Exhibits II-12 provides details of the industry-specific banking BPO market forecasts by market segment
for Asia Pacific.
Exhibit II-12

Banking BPO Market Forecast by Market Segment


Asia Pacific: 2014 2018
Est. market Est. market Est. market
Growth CAAGR 2014
size 2013
size 2014
size 2018 2013 - 2014
- 2018

Service Type
Banking

10,378

10,786

12,537

3.9%

3.8%

766

797

936

4.1%

4.1%

1,350

1,398

1,602

3.6%

3.5%

__Origination Services

500

516

588

3.3%

3.3%

___Sales

100

103

117

3.2%

3.3%

___Fulfilment

400

413

471

3.3%

3.3%

__Mortgage and Loan Administration

850

882

1,014

3.7%

3.6%

___Servicing

765

794

914

3.8%

3.6%

85

88

100

3.4%

3.4%

2,307

2,381

2,717

3.2%

3.4%

250

245

226

-2.0%

-2.0%

__Credit card processing

1,757

1,827

2,142

4.0%

4.1%

___Merchant acquiring

_Core Banking
_Mortgage and Loan BPO

___Default and collections


_Payment
__Check processing

1,214

1,266

1,499

4.2%

4.3%

___Card issuing

543

561

644

3.4%

3.5%

__EFT Services

300

309

349

3.0%

3.1%

_Securities

5,955

6,210

7,282

4.3%

4.1%

__Portfolio Services

5,075

5,293

6,203

4.3%

4.1%

35

37

47

7.1%

5.5%

5,040

5,255

6,157

4.3%

4.0%

40

42

53

5.9%

5.7%

5,000

5,213

6,104

4.3%

4.0%

880

917

1,079

4.2%

4.1%

___Reference data management


___Portfolio accounting and reporting
____Reconciliation services
____Other portfolio accounting
__Trade Services

NelsonHall 2014

24
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

E. Latin America
Exhibits II-13 provides details of the industry-specific banking BPO market forecasts by market segment
for Latin America
Exhibit II-13

Banking BPO Market Forecast by Market Segment


Central & Latin America: 2014 2018
Est. market Est. market Est. market
Growth CAAGR 2014
size 2013
size 2014
size 2018 2013 - 2014
- 2018

Service Type
Banking

3,708

3,873

4,559

4.4%

4.2%

_Core Banking

331

347

418

4.8%

4.8%

_Mortgage and Loan BPO

750

782

920

4.2%

4.2%

__Origination Services

250

260

302

3.8%

3.8%

50

52

61

3.9%

3.9%

___Fulfilment

200

208

241

3.8%

3.8%

__Mortgage and Loan Administration

500

522

618

4.5%

4.3%

___Servicing

400

418

497

4.6%

4.4%

___Default and collections

100

104

122

4.0%

4.0%

_Payment

747

773

891

3.5%

3.6%

___Sales

__Check processing

55

54

50

-2.0%

-2.0%

__Credit card processing

622

646

757

3.9%

4.0%

___Merchant acquiring

433

453

543

4.6%

4.7%

___Card issuing

189

194

214

2.4%

2.5%

__EFT Services

70

73

85

3.9%

3.9%

_Securities

1,880

1,971

2,329

4.8%

4.3%

__Portfolio Services

1,630

1,711

2,021

4.9%

4.3%

10

11

13

7.3%

5.6%

1,620

1,700

2,007

4.9%

4.2%

20

21

25

4.7%

4.8%

1,600

1,679

1,982

4.9%

4.2%

250

260

308

4.2%

4.3%

___Reference data management


___Portfolio accounting and reporting
____Reconciliation services
____Other portfolio accounting
__Trade Services

NelsonHall 2014

25
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Banking BPO Vendor Market Shares and Market Forecast by


Service Type
A. Banking BPO
Exhibits III-1 to III-14 provide market forecasts and vendor market shares for banking BPO.
Exhibit III-1

Global BPO Market Forecast by Region:


2014 2018
Region/Country

Est. market
size 2013

Est. market
size 2014

Est. market
size 2018

Growth 2013 CAAGR 2014


- 2014
- 2018

Global

90,318

94,105

108,550

4.2%

3.6%

_North America

46,629

48,540

55,806

4.1%

3.6%

__US

42,883

44,658

51,419

4.1%

3.6%

3,746

3,882

4,387

3.6%

3.1%

_EMEA

29,603

30,906

35,647

4.4%

3.6%

___UK

8,026

8,391

9,658

4.6%

3.6%

____Germany

4,781

5,009

5,775

4.8%

3.6%

____France

5,523

5,729

6,473

3.7%

3.1%

____Italy

1,123

1,171

1,340

4.3%

3.4%

____RoCE

8,777

9,157

10,612

4.3%

3.8%

__Africa & Middle East

1,373

1,449

1,788

5.5%

5.4%

10,378

10,786

12,537

3.9%

3.8%

3,708

3,873

4,559

4.4%

4.2%

__Canada

_Asia-Pac
_Central & Latin America

NelsonHall 2014

26
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Exhibit III-2

Estimated Banking BPO Market Shares


Global: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

BNY Mellon

6,691

7.4%

First Data Corporation

6,464

7.2%

State Street

5,080

5.6%

JP Morgan

3,800

4.2%

Broadridge

2,500

2.8%

Heartland Payment Systems

2,000

2.2%

Global Payments

1,850

2.0%

Ocwen

1,824

2.0%

BNP Paribas

1,820

2.0%

FIS

1,710

1.9%

TSYS

1,630

1.8%

Elavon

1,460

1.6%

Fiserv

1,328

1.5%

Societe Generale

1,230

1.4%

Northern Trust

1,175

1.3%

Euronet

1,059

1.2%

Atos

1,050

1.2%

Alliance Data Systems

760

0.8%

HSBC

700

0.8%

Brown Brothers Harriman

700

0.8%

UBS

655

0.7%

Equens

605

0.7%

Tata Consultancy Services (TCS)

565

0.6%

Bank of America

525

0.6%

Berkadia

470

0.5%

NETS

440

0.5%

PHH Mortgage

436

0.5%

Genpact

400

0.4%

HP Enterprise Services

375

0.4%

Accenture

300

0.3%

First American

280

0.3%

Xerox Services

280

0.3%

IBM Global Services

250

0.3%

Unisys

230

0.3%

Xchanging

179

0.2%

Cognizant

160

0.2%

Firstsource

150

0.2%

DekaBank

144

0.2%

Official Payments

140

0.2%

Serco

130

0.1%

NelsonHall 2014

27
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Postbank BCB

130

0.1%

ConCardis

112

0.1%

Wipro Ltd

100

0.1%

HML

88

0.1%

Capita

75

0.1%

NelsonHall 2014

28
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Exhibit III-3

Estimated Banking BPO Market Shares


North America: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

First Data Corporation

5,096

11.6%

BNY Mellon

3,106

7.0%

State Street

2,778

6.3%

JP Morgan

2,706

6.1%

Broadridge

2,280

5.2%

Heartland Payment Systems

1,900

4.3%

FIS

1,850

4.2%

Global Payments

1,548

3.5%

Fiserv

1,250

2.8%

TSYS

988

2.2%

Elavon

820

1.9%

Ocwen

800

1.8%

Northern Trust

600

1.4%

Brown Brothers

588

1.3%

Alliance Data Systems

550

1.2%

Berkadia

440

1.0%

PHH Mortgage

440

1.0%

Bank of America

410

0.9%

Tata Consultancy Services (TCS)

338

0.8%

First American

305

0.7%

Accenture

300

0.7%

Xerox Services

300

0.7%

Genpact

283

0.6%

CGI

250

0.6%

HSBC

217

0.5%

HP Enterprise Services

175

0.4%

Cognizant

152

0.3%

Official Payments

135

0.3%

Firstsource

123

0.3%

Euronet

103

0.2%

Sub Total

30,830

69.9%

Total

44,105

100.0%

NelsonHall 2014

29
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Exhibit III-4

Estimated Banking BPO Market Shares


United States: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

First Data Corporation

4,977

11.6%

BNY Mellon

3,475

8.1%

JP Morgan

3,040

7.1%

State Street

2,745

6.4%

Broadridge

2,250

5.2%

Heartland Payment Systems

2,000

4.7%

Ocwen

1,824

4.3%

FIS

1,710

4.0%

Fiserv

1,328

3.1%

Global Payments

1,075

2.5%

TSYS

880

2.1%

Elavon

850

2.0%

Northern Trust

645

1.5%

Brown Brothers Harriman

588

1.4%

Berkadia

470

1.1%

Alliance Data Systems

449

1.0%

PHH Mortgage

436

1.0%

Genpact

326

0.8%

Bank of America

325

0.8%

Tata Consultancy Services (TCS)

316

0.7%

Accenture

300

0.7%

First American

280

0.7%

Xerox Services

280

0.7%

HP Enterprise Services

212

0.5%

HSBC

175

0.4%

Official Payments

140

0.3%

Cognizant

139

0.3%

IBM Global Services

80

0.2%

Firstsource

67

0.2%

Wipro Ltd

57

0.1%

UBS

45

0.1%

Infosys

35

0.1%

CGI

32

0.1%

iGATE

27

0.1%

Jack Henry & Associates

25

0.1%

Subtotal

31,661

74.0%

Total

42,883

100.0%

NelsonHall 2014

30
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Exhibit III-5

Estimated Banking BPO Market Shares


Canada: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

Alliance Data Systems

295

7.9%

Global Payments

240

6.4%

Broadridge

225

6.0%

TSYS

193

5.2%

State Street

155

4.1%

First Data Corporation

129

3.4%

Elavon

70

1.9%

BNY Mellon

66

1.8%

iGATE

10

0.3%

CGI

0.2%

Infosys

0.2%

Subtotal

1,398

37.4%

Total

3,746

100.0%

NelsonHall 2014

31
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Exhibit III-6

Estimated Banking BPO Market Shares


EMEA: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

BNY Mellon

2,016

6.8%

BNP Paribas

1,820

6.1%

State Street

1,525

5.2%

Societe Generale

1,230

4.2%

Atos

1,005

3.4%

First Data Corporation

818

2.8%

Euronet

752

2.5%

UBS

610

2.1%

Equens

605

2.0%

JP Morgan

570

1.9%

Elavon

500

1.7%

NETS

440

1.5%

Global Payments

405

1.4%

Northern Trust

375

1.3%

TSYS

374

1.3%

HSBC

280

0.9%

Xchanging

179

0.6%

Tata Consultancy Services (TCS)

157

0.5%

DekaBank

144

0.5%

Postbank BCB

130

0.4%

Unisys

120

0.4%

ConCardis

112

0.4%

Serco

110

0.4%

Bank of America

105

0.4%

HML

88

0.3%

Capita

75

0.3%

Firstsource

67

0.2%

Tessi

65

0.2%

Genpact

63

0.2%

Wipro Ltd

41

0.1%

Brown Brothers Harriman

38

0.1%

Indra Sistemas

31

0.1%

WNS Global Services

26

0.1%

Broadridge

25

0.1%

Cognizant

21

0.1%

HCL Technologies

15

0.1%

Subtotal

15,015

50.6%

Total

29,603

100.0%

NelsonHall 2014

32
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Exhibit III-7

Estimated Banking BPO Market Shares


United Kingdom: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

BNY Mellon

735

9.2%

JP Morgan

570

7.1%

Northern Trust

375

4.7%

First Data Corporation

355

4.4%

Atos

328

4.1%

Societe Generale

310

3.9%

HSBC

280

3.5%

Global Payments

275

3.4%

State Street

275

3.4%

TSYS

163

2.0%

Tata Consultancy Services (TCS)

157

2.0%

Serco

110

1.4%

Elavon

100

1.2%

Euronet

95

1.2%

Unisys

90

1.1%

HML

88

1.1%

Capita

75

0.9%

Firstsource

67

0.8%

Genpact

63

0.8%

UBS

55

0.7%

BNP Paribas

55

0.7%

Bank of America

47

0.6%

Wipro Ltd

39

0.5%

Brown Brothers Harriman

38

0.5%

WNS Global Services

26

0.3%

Broadridge

25

0.3%

Cognizant

21

0.3%

HCL Technologies

15

0.2%

Infosys

13

0.2%

Steria

12

0.1%

HP Enterprise Services

0.1%

Vertex

0.1%

EXL Service

0.1%

Subtotal

4,881

60.9%

Total

8,026

100.0%

NelsonHall 2014

33
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Exhibit III-8

Estimated Banking BPO Market Shares


France: 2013
Vendor

Estd Revs 2013 ($m)

BNP Paribas

Market Share (%)

1,130

20.5%

Societe Generale

515

9.3%

Atos

335

6.1%

Elavon

200

3.6%

BNY Mellon

132

2.4%

State Street

101

1.8%

Tessi

65

1.2%

UBS

35

0.6%

First Data Corporation

18

0.3%

Bank of America

10

0.2%

Subtotal

2,541

46.0%

Total

5,523

100.0%

Exhibit III-9

Estimated Banking BPO Market Shares


Germany: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

Euronet

328

6.9%

Societe Generale

318

6.7%

Equens

295

6.2%

UBS

290

6.1%

BNY Mellon

199

4.2%

Xchanging

179

3.7%

DekaBank

144

3.0%

Postbank BCB

130

2.7%

Atos

116

2.4%

ConCardis

112

2.3%

State Street

101

2.1%

Elavon

100

2.1%

BNP Paribas

55

1.2%

TSYS

48

1.0%

First Data Corporation

40

0.8%

Bank of America

10

0.2%

0.2%

Alliance Data Systems


Subtotal

2,473

51.8%

Total

4,781

100.0%

NelsonHall 2014

34
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Exhibit III-10

Estimated Banking BPO Market Shares


Italy: 2013
Vendor

Estd Revs 2013 ($m)

Equens

Market Share (%)

155

13.8%

State Street

60

5.3%

Euronet

54

4.8%

First Data Corporation

40

3.6%

BNP Paribas

33

2.9%

Bank of America

10

0.9%

0.2%

354

31.5%

1,123

100.0%

Indra Sistemas
Subtotal
Total

Exhibit III-11

Estimated Banking BPO Market Shares


RoCE: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

State Street

988

11.3%

BNY Mellon

940

10.7%

BNP Paribas

462

5.3%

NETS

440

5.0%

Euronet

239

2.7%

Atos

226

2.6%

UBS

225

2.6%

First Data Corporation

220

2.5%

Equens

155

1.8%

Global Payments

130

1.5%

Elavon

100

1.1%

Societe Generale

87

1.0%

TSYS

78

0.9%

Unisys

30

0.3%

Indra Sistemas

29

0.3%

Bank of America

28

0.3%

Quion

13

0.2%

0.1%

Subtotal

4,398

50.2%

Total

8,777

100.0%

CGI

NelsonHall 2014

35
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Exhibit III-12

Estimated Banking BPO Market Shares


Africa & Middle East: 2013
Vendor

Estd Revs 2013 ($m)

First Data Corporation

Market Share (%)

145

10.6%

BNP Paribas

85

6.2%

TSYS

85

6.2%

Euronet

36

2.6%

BNY Mellon

10

0.7%

UBS

0.4%

Wipro Ltd

0.1%

368

26.8%

1,373

100.0%

Subtotal
Total

Exhibit III-13

Estimated Banking BPO Market Shares


Asia Pacific: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

BNY Mellon

869

8.4%

State Street

510

4.9%

First Data Corporation

410

4.0%

Euronet

265

2.6%

HSBC

245

2.4%

JP Morgan

190

1.8%

IBM Global Services

170

1.6%

HP Enterprise Services

155

1.5%

Northern Trust

155

1.5%

TSYS

133

1.3%

Global Payments

130

1.3%

Unisys

110

1.1%

Tata Consultancy Services (TCS)

79

0.8%

Brown Brothers Harriman

74

0.7%

Bank of America

42

0.4%

Atos

39

0.4%

Serco

20

0.2%

Firstsource

16

0.2%

Infosys

12

0.1%

Genpact

11

0.1%

HCL Technologies

10

0.1%

3,651

35.4%

10,378

100.0%

Subtotal
Total

NelsonHall 2014

36
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Exhibit III-14

Estimated Banking BPO Market Shares


Central & Latin America: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

BNY Mellon

265

7.1%

State Street

145

3.9%

First Data Corporation

130

3.5%

Bank of America

53

1.4%

TSYS

50

1.3%

Euronet

42

1.1%

Elavon

40

1.1%

Indra Sistemas

14

0.4%

Tata Consultancy Services (TCS)

13

0.4%

Alliance Data Systems

0.2%

Atos

0.2%

766

20.6%

3,708

100.0%

Subtotal
Total

NelsonHall 2014

37
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

B. Core Banking
Exhibits III-15 to III-21 provide market forecasts and vendor market shares for core banking BPO.
Exhibit III-15

Global Core Banking BPO Market Forecast by Region:


2014 2018
Est. market
size 2013

Est. market
size 2014

Est. market
size 2018

Global

4,024

4,177

4,850

3.8%

3.8%

_North America

1,136

1,175

1,346

3.5%

3.5%

__US

1,033

1,069

1,227

3.5%

3.5%

103

106

119

3.0%

3.0%

_EMEA

1,791

1,858

2,149

3.7%

3.7%

___UK

500

519

600

3.7%

3.7%

____Germany

215

224

262

4.0%

4.0%

____France

161

166

187

3.0%

3.0%

____Italy

59

61

69

3.3%

3.3%

____RoCE

722

746

848

3.4%

3.3%

__Africa & Middle East

134

143

184

6.5%

6.5%

_Asia-Pac

766

797

936

4.1%

4.1%

_Central & Latin America

331

347

418

4.8%

4.8%

Region/Country

__Canada

Growth 2013 CAAGR 2014


- 2014
- 2018

Exhibit III-16

Estimated Core Banking BPO Market Shares


Global: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

Atos

250

6.2%

Genpact

235

5.8%

FIS

180

4.5%

Tata Consultancy Services (TCS)

145

3.6%

IBM Global Services

60

1.5%

Serco

55

1.4%

Fiserv

37

0.9%

Jack Henry & Associates

25

0.6%

iGATE

19

0.5%

Firstsource

13

0.3%

Unisys

10

0.2%

Cognizant

10

0.2%

Infosys

0.2%

NIIT Technologies

0.1%

WNS Global Services

0.1%

EXL Service

0.1%

NelsonHall 2014

38
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Subtotal

1,062

26.2%

Total

4,024

100.0%

Exhibit III-17

Estimated Core Banking BPO Market Shares


North America: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

Genpact

188

16.5%

FIS

180

15.8%

Tata Consultancy Services (TCS)

72

6.3%

Fiserv

37

3.2%

Jack Henry & Associates

25

2.2%

IBM Global Services

20

1.8%

iGATE

19

1.6%

Cognizant

10

0.9%

Infosys

0.7%

Firstsource

0.6%

NIIT Technologies

0.5%

EXL Service

0.3%

575

50.4%

1,136

100.0%

Subtotal
Total

Exhibit III-18

Estimated Core Banking BPO Market Shares


United States: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

Genpact

188

18.2%

FIS

180

17.4%

Tata Consultancy Services (TCS)

72

7.0%

Fiserv

37

3.6%

Jack Henry & Associates

25

2.4%

IBM Global Services

20

1.9%

iGATE

13

1.3%

Cognizant

10

1.0%

Infosys

0.8%

Firstsource

0.7%

NIIT Technologies

0.6%

EXL Service

0.3%

569

55.2%

1,033

100.0%

Subtotal
Total

NelsonHall 2014

39
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Exhibit III-19

Estimated Core Banking BPO Market Shares


EMEA: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

Atos

250

14.0%

Serco

55

3.1%

Genpact

45

2.5%

Tata Consultancy Services (TCS)

29

1.6%

WNS Global Services

0.3%

EXL Service

0.1%

385

21.6%

1,791

100.0%

Subtotal
Total

Exhibit III-20

Estimated Core Banking BPO Market Shares


U.K.: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

Atos

250

50.0%

Serco

55

11.0%

Genpact

45

9.0%

Tata Consultancy Services (TCS)

29

5.8%

WNS Global Services

1.0%

EXL Service

0.2%

Subtotal

385

77.0%

Total

500

100.0%

Exhibit III-21

Estimated Core Banking BPO Market Shares


Asia-Pac: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

IBM Global Services

40

5.2%

Tata Consultancy Services (TCS)

33

4.3%

Unisys

10

1.3%

Firstsource

0.8%

Genpact

0.3%

EXL Service

0.1%

92

12.0%

766

100.0%

Subtotal
Total

NelsonHall 2014

40
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

C. Mortgage BPO
Exhibits III-22 to III-28 provide market forecasts and vendor market shares for mortgage BPO.
Exhibit III-22

Global Mortgage BPO Market Forecast by Region:


2014 2018
Est. market
size 2013

Est. market
size 2014

Est. market
size 2018

Global

8,961

9,287

10,665

3.6%

3.5%

_North America

5,901

6,114

7,010

3.6%

3.5%

__US

5,726

5,934

6,809

3.6%

3.5%

__Canada

175

180

201

2.7%

2.9%

_EMEA

960

993

1,132

3.4%

3.3%

___UK

514

530

599

3.2%

3.1%

____Germany

76

78

89

3.2%

3.2%

____France

27

28

31

2.7%

2.6%

____Italy

32

33

37

3.3%

3.1%

____RoCE

171

176

200

3.2%

3.1%

__Africa & Middle East

140

147

176

4.9%

4.7%

1,350

1,398

1,602

3.6%

3.5%

750

782

920

4.2%

4.2%

8,961

9,287

10,665

3.6%

3.5%

Region/Country

_Asia-Pac
_Central & Latin America
Global

NelsonHall 2014

Growth 2013 CAAGR 2014


- 2014
- 2018

41
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Exhibit III-23

Estimated Mortgage BPO Market Shares


Global: 2013
Vendor

Estd Revs 2013 ($m)

Ocwen

Market Share (%)

1,824

20.4%

Berkadia

470

5.2%

PHH Mortgage

436

4.9%

Accenture

300

3.3%

Xerox Services

280

3.1%

First American

280

3.1%

IBM Global Services

190

2.1%

FIS

180

2.0%

Tata Consultancy Services (TCS)

175

2.0%

HP Enterprise Services

160

1.8%

Genpact

108

1.2%

HML

88

1.0%

Serco

65

0.7%

Firstsource

65

0.7%

Cognizant

60

0.7%

Infosys

27

0.3%

Unisys

25

0.3%

Wipro Ltd

21

0.2%

Fiserv

15

0.2%

CSC

15

0.2%

Quion

13

0.1%

iGATE

12

0.1%

HCL Technologies

11

0.1%

EXL Service

10

0.1%

Vertex

0.1%

WNS Global Services

0.1%

Subtotal

4,843

54.0%

Total

8,961

100.0%

NelsonHall 2014

42
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Exhibit III-24

Estimated Mortgage BPO Market Shares


North America: 2013
Vendor

Estd Revs 2013 ($m)

Ocwen

Market Share (%)

1,824

30.9%

Berkadia

470

8.0%

PHH Mortgage

436

7.4%

Accenture

300

5.1%

Xerox Services

280

4.7%

First American

280

4.7%

FIS

180

3.1%

Tata Consultancy Services (TCS)

89

1.5%

Genpact

83

1.4%

IBM Global Services

60

1.0%

HP Enterprise Services

60

1.0%

Cognizant

57

1.0%

Firstsource

30

0.5%

Infosys

20

0.3%

Wipro Ltd

16

0.3%

CSC

15

0.3%

Fiserv

15

0.3%

iGATE

12

0.2%

EXL Service

0.1%

HCL Technologies

0.1%

Subtotal

4,239

71.9%

Total

5,901

100.0%

NelsonHall 2014

43
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Exhibit III-25

Estimated Mortgage BPO Market Shares


United States: 2013
Vendor

Estd Revs 2013 ($m)

Ocwen

Market Share (%)

1,824

31.9%

Berkadia

470

8.2%

PHH Mortgage

436

7.6%

Accenture

300

5.2%

Xerox Services

280

4.9%

First American

280

4.9%

FIS

180

3.1%

Tata Consultancy Services (TCS)

89

1.6%

Genpact

83

1.4%

IBM Global Services

60

1.0%

HP Enterprise Services

60

1.0%

Cognizant

57

1.0%

Firstsource

30

0.5%

Wipro Ltd

16

0.3%

CSC

15

0.3%

Fiserv

15

0.3%

Infosys

13

0.2%

iGATE

0.1%

EXL Service

0.1%

HCL Technologies

0.1%

Subtotal

4,228

73.7%

Total

5,726

100.0%

NelsonHall 2014

44
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Exhibit III-26

Estimated Mortgage BPO Market Shares


EMEA: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

HML

88

9.2%

Serco

55

5.7%

Tata Consultancy Services (TCS)

48

5.0%

Firstsource

30

3.1%

Genpact

18

1.9%

Quion

13

1.4%

Vertex

0.8%

WNS Global Services

0.5%

HCL Technologies

0.5%

Wipro Ltd

0.5%

Cognizant

0.3%

EXL Service

0.2%

Subtotal

280

29.1%

Total

960

100.0%

NelsonHall 2014

45
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Exhibit III-27

Estimated Mortgage BPO Market Shares


U.K: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

HML

88

17.1%

Serco

55

10.7%

Tata Consultancy Services (TCS)

48

9.3%

Firstsource

30

5.8%

Genpact

18

3.5%

Vertex

1.6%

HCL Technologies

1.0%

Wipro Ltd

1.0%

WNS Global Services

1.0%

Cognizant

0.6%

EXL Service

0.4%

Subtotal

267

52.0%

Total

514

100.0%

Exhibit III-28

Estimated Mortgage BPO Market Shares


Asia-Pac: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

IBM Global Services

130

9.6%

HP Enterprise Services

100

7.4%

Tata Consultancy Services (TCS)

36

2.7%

Unisys

25

1.9%

Serco

10

0.7%

Genpact

0.5%

Infosys

0.5%

Firstsource

0.4%

EXL Service

0.1%

HCL Technologies

0.1%

322

23.9%

1,350

100.0%

Subtotal
Total

NelsonHall 2014

46
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

D. Payment Services
Exhibits III-29 to III-42 provide market forecasts and vendor market shares for payment services BPO.
Exhibit III-29

Global Payment BPO Market Forecast by Region:


2014 2018
Est. market
size 2013

Est. market
size 2014

Est. market
size 2018

Global

31,820

32,886

37,593

3.3%

3.4%

_North America

19,958

20,657

23,730

3.5%

3.5%

__US

18,552

19,208

22,110

3.5%

3.6%

__Canada

1,406

1,449

1,619

3.1%

2.8%

_EMEA

8,808

9,075

10,255

3.0%

3.1%

___UK

2,368

2,434

2,728

2.8%

2.9%

____Germany

1,730

1,785

2,024

3.2%

3.2%

____France

1,275

1,312

1,477

2.9%

3.0%

437

448

498

2.6%

2.7%

2,414

2,480

2,768

2.7%

2.8%

584

616

760

5.4%

5.4%

2,307

2,381

2,717

3.2%

3.4%

747

773

891

3.5%

3.6%

Region/Country

____Italy
____RoCE
__Africa & Middle East
_Asia-Pac
_Central & Latin America

NelsonHall 2014

Growth 2013 CAAGR 2014


- 2014
- 2018

47
NelsonHall Proprietary Not for distribution without permission

July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Exhibit III-30

Estimated Payment BPO Market Shares


Global: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

First Data Corporation

6,464

20.3%

Heartland Payment Systems

2,000

6.3%

Global Payments

1,850

5.8%

TSYS

1,630

5.1%

Elavon

1,460

4.6%

FIS

1,350

4.2%

Fiserv

1,276

4.0%

Euronet

1,059

3.3%

Atos

800

2.5%

Alliance Data Systems

760

2.4%

Equens

605

1.9%

Bank of America

525

1.6%

NETS

440

1.4%

Unisys

195

0.6%

HP Enterprise Services

175

0.5%

Tata Consultancy Services (TCS)

155

0.5%

Official Payments

140

0.4%

Postbank BCB

130

0.4%

ConCardis

112

0.4%

Firstsource

72

0.2%

Tessi

65

0.2%

CGI

50

0.2%

Indra Sistemas

48

0.2%

Genpact

17

0.1%

Steria

12

0.0%

Subtotal

21,433

67.1%

Total

31,820

100.0%

NelsonHall 2014

48
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Exhibit III-31

Estimated Payment BPO Market Shares


North America: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

First Data Corporation

5,106

25.6%

Heartland Payment Systems

2,000

10.0%

FIS

1,350

6.8%

Global Payments

1,315

6.6%

Fiserv

1,276

6.4%

TSYS

1,073

5.4%

Elavon

920

4.6%

Alliance Data Systems

744

3.7%

Bank of America

325

1.6%

Official Payments

140

0.7%

HP Enterprise Services

120

0.6%

Tata Consultancy Services (TCS)

110

0.6%

CGI

40

0.2%

Firstsource

30

0.2%

Genpact

17

0.1%

Subtotal

14,585

73.1%

Total

19,958

100.0%

NelsonHall 2014

49
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Exhibit III-32

Estimated Payment BPO Market Shares


United States: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

First Data Corporation

4,977

26.8%

Heartland Payment Systems

2,000

10.8%

FIS

1,350

7.3%

Fiserv

1,276

6.9%

Global Payments

1,075

5.8%

TSYS

880

4.7%

Elavon

850

4.6%

Alliance Data Systems

449

2.4%

Bank of America

325

1.8%

Official Payments

140

0.8%

HP Enterprise Services

120

0.6%

Tata Consultancy Services (TCS)

110

0.6%

CGI

32

0.2%

Firstsource

30

0.2%

Genpact

17

0.1%

Subtotal

13,650

73.6%

Total

18,552

100.0%

Exhibit III-33

Estimated Payment BPO Market Shares


Canada: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

Alliance Data Systems

295

21.0%

Global Payments

240

17.1%

TSYS

193

13.7%

First Data Corporation

129

9.2%

70

5.0%

0.6%

Elavon
CGI
Subtotal
Total

NelsonHall 2014

935

66.6%

1,406

100.0%

50
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Exhibit III-34

Estimated Payment BPO Market Shares


EMEA: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

First Data Corporation

818

9.3%

Atos

755

8.6%

Euronet

752

8.5%

Equens

605

6.9%

Elavon

500

5.7%

NETS

440

5.0%

Global Payments

405

4.6%

TSYS

374

4.2%

Postbank BCB

130

1.5%

Unisys

120

1.4%

ConCardis

112

1.3%

Bank of America

105

1.2%

Tessi

65

0.7%

Tata Consultancy Services (TCS)

45

0.5%

Firstsource

37

0.4%

Indra Sistemas

31

0.4%

Steria

12

0.1%

CGI

10

0.1%

0.1%

Subtotal

5,329

60.5%

Total

8,808

100.0%

Alliance Data Systems

NelsonHall 2014

51
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Exhibit III-35

Estimated Payment BPO Market Shares


United Kingdom: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

First Data Corporation

355

15.0%

Global Payments

275

11.6%

TSYS

163

6.9%

Elavon

100

4.2%

Euronet

95

4.0%

Unisys

90

3.8%

Atos

78

3.3%

Bank of America

47

2.0%

Tata Consultancy Services (TCS)

45

1.9%

Firstsource

37

1.6%

Steria

12

0.5%

Infosys

0.1%

CGI

0.1%

Subtotal

1,302

55.0%

Total

2,368

100.0%

Exhibit III-36

Estimated Payment BPO Market Shares


France: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

Atos

335

26.3%

Elavon

200

15.7%

Tessi

65

5.1%

First Data Corporation

18

1.4%

Bank of America
Subtotal
Total

NelsonHall 2014

10

0.8%

628

49.3%

1,275

100.0%

52
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Exhibit III-37

Estimated Payment BPO Market Shares


Germany: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

Euronet

328

19.0%

Equens

295

17.1%

Postbank BCB

130

7.5%

Atos

116

6.7%

ConCardis

112

6.5%

Elavon

100

5.8%

TSYS

48

2.8%

First Data Corporation

40

2.3%

Bank of America

10

0.6%

Alliance Data Systems

0.5%

Subtotal

1,187

68.8%

Total

1,730

100.0%

Exhibit III-38

Estimated Payment BPO Market Shares


Italy: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

Equens

155

35.5%

Euronet

54

12.4%

First Data Corporation

40

9.2%

Bank of America

10

2.3%

Indra Sistemas

0.5%

Subtotal

261

59.9%

Total

437

100.0%

NelsonHall 2014

53
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Exhibit III-39

Estimated Payment BPO Market Shares


RoCE: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

NETS

440

18.2%

Euronet

239

9.9%

Atos

226

9.4%

First Data Corporation

220

9.1%

Equens

155

6.4%

Global Payments

130

5.4%

Elavon

100

4.1%

TSYS

78

3.2%

Unisys

30

1.2%

Indra Sistemas

29

1.2%

Bank of America

28

1.2%

0.3%

Subtotal

1,683

69.6%

Total

2,414

100.0%

CGI

Exhibit III-40

Estimated Payment BPO Market Shares


Africa & Middle East: 2013
Vendor

Estd Revs 2012 ($m)

First Data Corporation

Market Share (%)

145

24.8%

TSYS

85

14.6%

Euronet

36

6.2%

0.3%

Subtotal

268

45.9%

Total

584

100.0%

Wipro Ltd

NelsonHall 2014

54
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Exhibit III-41

Estimated Payment BPO Market Shares


Asia Pacific: 2013
Vendor

Estd Revs 2012 ($m)

Market Share (%)

First Data Corporation

410

17.8%

Euronet

265

11.5%

TSYS

133

5.8%

Global Payments

130

5.6%

Unisys

75

3.3%

HP Enterprise Services

55

2.4%

Bank of America

42

1.8%

Atos

39

1.7%

Serco

10

0.4%

HCL Technologies

0.4%

Firstsource

0.2%

Wipro Ltd

0.1%

Subtotal

1,176

51.0%

Total

2,307

100.0%

Exhibit III-42

Estimated Payment BPO Market Shares


Central & Latin America: 2012
Vendor

Estd Revs 2012 ($m)

First Data Corporation

Market Share (%)

130

17.4%

Bank of America

53

7.1%

TSYS

50

6.7%

Euronet

42

5.6%

Elavon

40

5.4%

Indra Sistemas

14

1.9%

Alliance Data Systems

1.1%

Atos

0.8%

Subtotal

343

46.0%

Total

747

100.0%

NelsonHall 2014

55
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

E. Securities Processing
Exhibits III-43 to III-53 provide market forecasts and vendor market shares for securities processing BPO.
Exhibit III-43

Global Securities Processing Market Forecast by Region:


2014 2018
Est. market
size 2013

Est. market
size 2014

Est. market
size 2018

Growth
20123- 2014

CAAGR 2014
- 2018

Global

45,513

47,755

55,442

4.9%

3.8%

_North America

19,634

20,594

23,720

4.9%

3.6%

__US

17,572

18,447

21,273

5.0%

3.6%

2,062

2,147

2,447

4.1%

3.3%

_EMEA

18,044

18,980

22,111

5.2%

3.9%

___UK

4,644

4,908

5,731

5.7%

4.0%

____Germany

2,760

2,923

3,400

5.9%

3.9%

____France

4,060

4,223

4,779

4.0%

3.1%

595

629

736

5.7%

4.0%

5,470

5,754

6,797

5.2%

4.3%

515

544

668

5.6%

5.3%

_Asia-Pac

5,955

6,210

7,282

4.3%

4.1%

_Central & Latin America

1,880

1,971

2,329

4.8%

4.3%

Region/Country

__Canada

____Italy
____RoCE
__Africa & Middle East

NelsonHall 2014

56
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Exhibit III-44

Estimated Securities BPO Market Shares


Global: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

BNY Mellon

6,691

14.7%

State Street

5,080

11.2%

JP Morgan

3,800

8.3%

Broadridge

2,500

5.5%

BNP Paribas

1,820

4.0%

Societe Generale

1,230

2.7%

Northern Trust

1,175

2.6%

HSBC

700

1.5%

Brown Brothers Harriman

700

1.5%

UBS

655

1.4%

Xchanging

179

0.4%

DekaBank

144

0.3%

Tata Consultancy Services (TCS)

90

0.2%

Cognizant

85

0.2%

Capita

75

0.2%

Wipro Ltd

67

0.1%

HP Enterprise Services

40

0.1%

Genpact

40

0.1%

Infosys

30

0.1%

Subtotal

25,153

55.1%

Total

45,513

100.0%

Exhibit III-45

Estimated Securities BPO Market Shares


North America: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

BNY Mellon

3,541

18.0%

JP Morgan

3,040

15.5%

State Street

2,900

14.8%

Broadridge

2,475

12.6%

Northern Trust

645

3.3%

Brown Brothers Harriman

588

3.0%

HSBC

175

0.9%

Cognizant

67

0.3%

Tata Consultancy Services (TCS)

45

0.2%

UBS

45

0.2%

Genpact

38

0.2%

Wipro Ltd

33

0.2%

NelsonHall 2014

57
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

HP Enterprise Services

32

0.2%

Infosys

14

0.1%

HCL Technologies

12

0.1%

Subtotal

13,659

69.6%

Total

19,634

100.0%

Exhibit III-46

Estimated Securities BPO Market Shares


United States: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

BNY Mellon

3,475

19.8%

JP Morgan

3,040

17.3%

State Street

2,745

15.6%

Broadridge

2,250

12.8%

Northern Trust

645

3.7%

Brown Brothers Harriman

588

3.3%

HSBC

175

1.0%

Cognizant

67

0.4%

Tata Consultancy Services (TCS)

45

0.3%

UBS

45

0.3%

Genpact

38

0.2%

Wipro Ltd

33

0.2%

HP Enterprise Services

32

0.2%

Infosys

14

0.1%

HCL Technologies

12

0.1%

Subtotal

13,213

75.3%

Total

17,572

100.0%

Exhibit III-47

Estimated Securities BPO Market Shares


Canada: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

Broadridge

225

10.9%

State Street

155

7.5%

BNY Mellon

66

3.2%

446

21.6%

2,062

100.0%

Subtotal
Total

NelsonHall 2014

58
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Exhibit III-48

Estimated Securities BPO Market Shares


EMEA: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

BNY Mellon

2,016

11.2%

BNP Paribas

1,820

10.1%

State Street

1,525

8.5%

Societe Generale

1,230

6.8%

UBS

610

3.4%

JP Morgan

570

3.2%

Northern Trust

375

2.1%

HSBC

280

1.6%

Xchanging

179

1.0%

DekaBank

144

0.8%

Capita

75

0.4%

Brown Brothers Harriman

38

0.2%

Tata Consultancy Services (TCS)

35

0.2%

Wipro Ltd

34

0.2%

Broadridge

25

0.1%

Cognizant

18

0.1%

WNS Global Services

16

0.1%

Infosys

11

0.1%

HCL Technologies

10

0.1%

9,021

50.2%

18,044

100.0%

Subtotal
Total

Exhibit III-49

Estimated Securities BPO Market Shares


United Kingdom: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

BNY Mellon

735

15.8%

JP Morgan

570

12.3%

Northern Trust

375

8.1%

Societe Generale

310

6.7%

HSBC

280

6.0%

State Street

275

5.9%

Capita

75

1.6%

UBS

55

1.2%

BNP Paribas

55

1.2%

Brown Brothers Harriman

38

0.8%

Tata Consultancy Services (TCS)

35

0.8%

Wipro Ltd

34

0.7%

NelsonHall 2014

59
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Broadridge

25

0.5%

Cognizant

18

0.4%

WNS Global Services

16

0.3%

Infosys

11

0.2%

HCL Technologies

10

0.2%

HP Enterprise Services

0.2%

EXL Service

0.1%

Subtotal

2,927

63.0%

Total

4,644

100.0%

Exhibit III-50

Estimated Securities BPO Market Shares


Germany: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

Societe Generale

318

11.5%

UBS

290

10.5%

BNY Mellon

199

7.2%

Xchanging

179

6.5%

DekaBank

144

5.2%

State Street

101

3.7%

BNP Paribas

55

2.0%

Subtotal

1,286

46.6%

Total

2,760

100.0%

Exhibit III-51

Estimated Securities BPO Market Shares


France: 2013
Vendor

Estd Revs 2013 ($m)

BNP Paribas

Market Share (%)

1,130

27.8%

Societe Generale

515

12.7%

BNY Mellon

132

3.3%

State Street

101

2.5%

35

0.9%

Subtotal

1,913

47.2%

Total

4,060

100.0%

UBS

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BANKING BPO MARKET FORECAST: 2014-2018

Exhibit III-52

Estimated Securities BPO Market Shares


RoCE: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

State Street

988

18.1%

BNY Mellon

940

17.2%

BNP Paribas

462

8.4%

UBS

225

4.1%

87

1.6%

Subtotal

2,702

49.4%

Total

5,470

100.0%

Societe Generale

Exhibit III-53

Estimated Securities BPO Market Shares


Asia Pacific: 2013
Vendor

Estd Revs 2013 ($m)

Market Share (%)

BNY Mellon

869

14.6%

State Street

510

8.6%

HSBC

245

4.1%

JP Morgan

190

3.2%

Northern Trust

155

2.6%

Brown Brothers Harriman

74

1.2%

Tata Consultancy Services (TCS)

10

0.2%

0.1%

Infosys
Subtotal

2,062

34.6%

Total

5,955

100.0%

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BANKING BPO MARKET FORECAST: 2014-2018

Appendix
A. EMEA
Market forecasts for the rest of EMEA are provided by geography and market segment in Exhibits IV-1 to
IV-7.
Exhibit IV-1

Banking BPO Market Forecast by Market Segment


Switzerland & Austria: 2014 2018
Est. market Est. market Est. market
Growth CAAGR 2014
size 2013
size 2014
size 2018 2013 - 2014
- 2018

Service Type
Banking

1,418

1,492

1,749

5.3%

4.0%

_Core Banking

87

90

102

3.2%

3.2%

_Mortgage and Loan BPO

17

18

20

3.3%

3.3%

__Origination Services

3.4%

3.5%

___Sales

3.3%

3.6%

___Fulfilment

3.5%

3.5%

10

10

11

3.0%

3.1%

___Servicing

3.4%

3.5%

___Default and collections

2.1%

2.0%

170

174

195

2.7%

2.8%

__Mortgage and Loan Administration

_Payment
__Check processing

20

19

18

-2.0%

-2.0%

__Credit card processing

120

124

142

3.4%

3.4%

___Merchant acquiring

83

86

101

4.0%

4.0%

___Card issuing

37

37

41

2.0%

2.0%

__EFT Services

30

31

35

3.2%

3.2%

_Securities

1,144

1,211

1,432

5.8%

4.3%

__Portfolio Services

1,009

1,069

1,264

6.0%

4.3%

7.0%

5.8%

1,004

1,064

1,257

6.0%

4.3%

4.9%

5.0%

1,000

1,060

1,252

6.0%

4.3%

135

141

168

4.5%

4.5%

___Reference data management


___Portfolio accounting and reporting
____Reconciliation services
____Other portfolio accounting
__Trade Services

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BANKING BPO MARKET FORECAST: 2014-2018

Exhibit IV-2

Banking BPO Market Forecast by Market Segment


Eastern Europe: 2014 2018
Est. market Est. market Est. market
Growth CAAGR 2014
size 2013
size 2014
size 2018 2013 - 2014
- 2018

Service Type
Banking

1,040

1,092

1,332

5.0%

5.1%

_Core Banking

72

75

86

3.5%

3.5%

_Mortgage and Loan BPO

14

15

17

4.0%

4.0%

__Origination Services

3.4%

3.4%

___Sales

0.8%

1.0%

___Fulfilment

4.1%

4.0%

__Mortgage and Loan Administration

10

4.4%

4.4%

___Servicing

5.0%

5.0%

___Default and collections

2.9%

3.0%

340

354

417

4.1%

4.2%

15

15

14

-2.0%

-2.0%

__Credit card processing

300

313

373

4.4%

4.5%

___Merchant acquiring

208

218

265

5.0%

5.0%

___Card issuing

92

95

108

3.2%

3.2%

__EFT Services

25

26

30

4.0%

4.0%

_Securities

613

649

812

5.8%

5.8%

__Portfolio Services

508

538

680

6.0%

6.0%

8.1%

7.0%

503

534

674

6.0%

6.0%

_Payment
__Check processing

___Reference data management


___Portfolio accounting and reporting
____Reconciliation services

6.0%

6.0%

____Other portfolio accounting

500

530

669

6.0%

6.0%

__Trade Services

106

111

132

4.5%

4.5%

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BANKING BPO MARKET FORECAST: 2014-2018

Exhibit IV-3

Banking BPO Market Forecast by Market Segment


Nordics & Finland: 2014 2018
Est. market Est. market Est. market
Growth CAAGR 2014
size 2013
size 2014
size 2018 2013 - 2014
- 2018

Service Type
Banking

1,550

1,596

1,795

3.0%

3.0%

141

146

165

3.2%

3.2%

_Mortgage and Loan BPO

25

26

28

2.0%

2.0%

__Origination Services

_Core Banking

11

11

12

1.8%

1.8%

___Sales

0.9%

1.0%

___Fulfilment

10

2.0%

2.0%

__Mortgage and Loan Administration

14

14

16

2.1%

2.1%

___Servicing

10

10

11

2.0%

2.0%

2.4%

2.4%

657

674

746

2.5%

2.6%

32

31

29

-2.0%

-2.0%

__Credit card processing

580

597

667

2.8%

2.8%

___Merchant acquiring

403

416

472

3.2%

3.2%

___Card issuing

177

181

196

2.0%

2.0%

__EFT Services

45

46

50

2.0%

2.0%

_Securities

726

751

855

3.3%

3.3%

__Portfolio Services

514

530

597

3.1%

3.0%

10

6.0%

5.0%

506

521

587

3.0%

3.0%

___Default and collections


_Payment
__Check processing

___Reference data management


___Portfolio accounting and reporting
____Reconciliation services

3.7%

3.6%

____Other portfolio accounting

500

515

580

3.0%

3.0%

__Trade Services

212

221

258

4.0%

4.0%

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BANKING BPO MARKET FORECAST: 2014-2018

Exhibit IV-4

Banking BPO Market Forecast by Market Segment


Benelux: 2014 2018
Est. market Est. market Est. market
Growth CAAGR 2014
size 2013
size 2014
size 2018 2013 - 2014
- 2018

Service Type
Banking

2,201

2,288

2,620

3.9%

3.5%

152

157

175

2.9%

2.9%

_Mortgage and Loan BPO

67

69

77

3.0%

3.0%

__Origination Services

_Core Banking

11

11

13

3.0%

3.0%

___Sales

3.2%

3.0%

___Fulfilment

10

3.0%

3.0%

__Mortgage and Loan Administration

56

57

65

3.0%

3.0%

___Servicing

39

40

45

3.0%

3.0%

___Default and collections

17

17

19

3.0%

3.0%

695

712

783

2.3%

2.4%

81

80

74

-2.0%

-2.0%

__Credit card processing

534

550

619

3.0%

3.0%

___Merchant acquiring

369

382

438

3.5%

3.5%

___Card issuing

165

168

182

2.0%

2.0%

__EFT Services

80

82

90

2.4%

2.4%

_Securities

1,287

1,351

1,584

5.0%

4.1%

__Portfolio Services

1,165

1,223

1,432

5.0%

4.0%

11

7.1%

5.6%

1,156

1,214

1,421

5.0%

4.0%

_Payment
__Check processing

___Reference data management


___Portfolio accounting and reporting
____Reconciliation services
____Other portfolio accounting
__Trade Services

NelsonHall 2014

5.0%

5.0%

1,150

1,207

1,412

5.0%

4.0%

122

127

152

4.5%

4.5%

65
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BANKING BPO MARKET FORECAST: 2014-2018

Exhibit IV-5

Banking BPO Market Forecast by Market Segment


Other Europe: 2014 2018
Est. market Est. market Est. market
Growth CAAGR 2014
size 2013
size 2014
size 2018 2013 - 2014
- 2018

Service Type
Banking

671

709

835

5.6%

4.2%

26

27

31

3.2%

3.2%

_Mortgage and Loan BPO

3.8%

3.7%

__Origination Services

3.2%

3.2%

___Sales

2.7%

0.0%

___Fulfilment

3.4%

3.5%

__Mortgage and Loan Administration

4.1%

4.0%

___Servicing

3.9%

4.0%

___Default and collections

3.4%

0.0%

48

50

58

3.6%

3.7%

-2.1%

-2.0%

__Credit card processing

40

42

50

4.4%

4.4%

___Merchant acquiring

27

29

35

5.0%

5.0%

___Card issuing

13

13

15

3.2%

3.2%

__EFT Services

3.3%

3.1%

_Securities

592

627

741

5.9%

4.3%

__Portfolio Services

553

586

692

6.0%

4.3%

7.1%

5.5%

551

584

690

6.0%

4.3%

_Core Banking

_Payment
__Check processing

___Reference data management


___Portfolio accounting and reporting
____Reconciliation services
____Other portfolio accounting
__Trade Services

NelsonHall 2014

6.9%

7.1%

550

583

689

6.0%

4.3%

39

41

49

4.5%

4.5%

66
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Exhibit IV-6

Banking BPO Market Forecast by Market Segment


Africa: 2014 2018
Est. market Est. market Est. market
Growth CAAGR 2014
size 2013
size 2014
size 2018 2013 - 2014
- 2018

Service Type
Banking

513

539

654

5.0%

4.9%

_Core Banking

32

34

44

6.5%

6.5%

_Mortgage and Loan BPO

33

34

40

3.8%

3.9%

__Origination Services

14

15

17

3.9%

4.0%

3.5%

3.5%

___Fulfilment

11

12

14

4.0%

4.1%

__Mortgage and Loan Administration

19

19

22

3.7%

3.8%

___Servicing

13

14

16

4.0%

4.1%

3.1%

3.0%

168

176

211

4.6%

4.8%

12

11

11

-2.0%

-2.0%

__Credit card processing

150

158

193

5.1%

5.2%

___Merchant acquiring

104

109

136

5.6%

5.7%

___Card issuing

46

48

56

3.9%

3.9%

__EFT Services

5.6%

6.2%

_Securities

281

296

359

5.2%

5.0%

__Portfolio Services

257

270

329

5.3%

5.0%

6.3%

6.5%

256

269

328

5.3%

5.0%

___Sales

___Default and collections


_Payment
__Check processing

___Reference data management


___Portfolio accounting and reporting
____Reconciliation services
____Other portfolio accounting
__Trade Services

NelsonHall 2014

4.8%

4.9%

250

263

320

5.3%

5.0%

24

25

30

4.2%

4.5%

67
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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Exhibit IV-7

Banking BPO Market Forecast by Market Segment


Middle East: 2014 2018
Est. market Est. market Est. market
Growth CAAGR 2014
size 2013
size 2014
size 2018 2013 - 2014
- 2018

Service Type
Banking

860

910

1,134

5.8%

5.7%

_Core Banking

102

109

140

6.5%

6.5%

_Mortgage and Loan BPO

107

113

137

5.2%

4.9%

46

48

60

5.4%

5.4%

10

12

5.0%

5.0%

___Fulfilment

37

39

48

5.5%

5.5%

__Mortgage and Loan Administration

61

65

77

5.0%

4.6%

___Servicing

43

45

55

5.0%

5.0%

___Default and collections

18

19

22

5.0%

3.5%

416

440

548

5.7%

5.7%

38

38

35

-2.0%

-2.0%

__Credit card processing

359

382

488

6.5%

6.3%

___Merchant acquiring

249

266

342

6.5%

6.5%

___Card issuing

110

117

146

6.5%

5.8%

__EFT Services

19

20

26

6.5%

6.5%

_Securities

234

248

309

6.0%

5.7%

__Portfolio Services

128

137

174

6.8%

6.2%

6.9%

6.5%

124

133

169

6.8%

6.2%

__Origination Services
___Sales

_Payment
__Check processing

___Reference data management


___Portfolio accounting and reporting
____Reconciliation services

24

26

33

6.0%

6.0%

____Other portfolio accounting

100

107

136

7.0%

6.3%

__Trade Services

106

111

135

5.0%

5.0%

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BANKING BPO MARKET FORECAST: 2014-2018

B. Asia Pacific
Market forecasts for Asia Pacific are provided by geography and market segment in Exhibits IV-8 to IV11.
Exhibit IV-8

Banking BPO Market Forecast by Market Segment


China: 2014 2018
Est. market Est. market Est. market
Growth CAAGR 2014
size 2013
size 2014
size 2018 2013 - 2014
- 2018

Service Type
Banking

3,088

3,230

3,810

4.6%

4.2%

_Core Banking

66

68

77

3.2%

3.2%

_Mortgage and Loan BPO

88

91

108

4.3%

4.3%

__Origination Services

33

35

40

4.0%

4.0%

___Sales

4.1%

4.0%

___Fulfilment

27

28

32

4.0%

4.0%

__Mortgage and Loan Administration

54

57

68

4.4%

4.5%

___Servicing

49

51

61

4.5%

4.5%

4.0%

4.0%

229

234

255

2.2%

2.2%

17

16

15

-2.0%

-2.0%

__Credit card processing

188

193

215

2.7%

2.7%

___Merchant acquiring

___Default and collections


_Payment
__Check processing

130

134

151

3.0%

3.0%

___Card issuing

58

59

64

2.0%

2.0%

__EFT Services

24

24

25

1.0%

1.0%

_Securities

2,706

2,837

3,370

4.9%

4.4%

__Portfolio Services

2,506

2,631

3,138

5.0%

4.5%

7.1%

6.0%

2,503

2,628

3,134

5.0%

4.5%

6.1%

6.0%

2,500

2,625

3,130

5.0%

4.5%

200

206

232

3.0%

3.0%

___Reference data management


___Portfolio accounting and reporting
____Reconciliation services
____Other portfolio accounting
__Trade Services

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BANKING BPO MARKET FORECAST: 2014-2018

Exhibit IV-9

Banking BPO Market Forecast by Market Segment


India: 2014 2018
Est. market Est. market Est. market
Growth CAAGR 2014
size 2013
size 2014
size 2018 2013 - 2014
- 2018

Service Type
Banking

989

1,048

1,318

5.9%

5.9%

_Core Banking

120

127

164

6.5%

6.5%

_Mortgage and Loan BPO

150

158

195

5.4%

5.4%

__Origination Services

50

53

65

5.4%

5.4%

___Sales

10

11

13

5.0%

5.0%

___Fulfilment

40

42

52

5.5%

5.5%

100

105

130

5.5%

5.4%

___Servicing

90

95

118

5.5%

5.5%

___Default and collections

10

11

13

5.0%

4.8%

423

448

564

5.8%

5.9%

35

34

31

-2.0%

-2.0%

__Credit card processing

343

365

470

6.5%

6.5%

___Merchant acquiring

236

251

323

6.5%

6.5%

___Card issuing

107

114

147

6.5%

6.5%

__EFT Services

46

48

62

6.5%

6.5%

_Securities

296

314

396

6.2%

5.9%

__Portfolio Services

126

135

173

7.1%

6.5%

8.1%

5.7%

120

128

165

7.0%

6.5%

__Mortgage and Loan Administration

_Payment
__Check processing

___Reference data management


___Portfolio accounting and reporting
____Reconciliation services

20

21

28

7.0%

6.5%

____Other portfolio accounting

100

107

138

7.0%

6.5%

__Trade Services

170

179

222

5.5%

5.5%

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BANKING BPO MARKET FORECAST: 2014-2018

Exhibit IV-10

Banking BPO Market Forecast by Market Segment


Japan: 2014 2018
Est. market Est. market Est. market
Growth CAAGR 2014
size 2013
size 2014
size 2018 2013 - 2014
- 2018

Service Type
Banking

1,154

1,186

1,326

2.8%

2.8%

_Core Banking

131

135

154

3.3%

3.3%

_Mortgage and Loan BPO

220

225

249

2.5%

2.5%

__Origination Services

82

84

92

2.4%

2.4%

___Sales

16

17

18

2.0%

2.0%

___Fulfilment

66

67

74

2.5%

2.5%

__Mortgage and Loan Administration

138

142

157

2.5%

2.6%

___Servicing

124

127

141

2.5%

2.5%

14

14

16

3.0%

3.0%

527

539

593

2.4%

2.4%

47

46

42

-2.0%

-2.0%

__Credit card processing

428

440

494

2.9%

2.9%

___Merchant acquiring

295

305

347

3.3%

3.3%

___Card issuing

133

136

147

2.0%

2.0%

__EFT Services

52

53

57

2.0%

2.0%

_Securities

276

286

330

3.7%

3.7%

__Portfolio Services

110

114

128

3.1%

3.1%

6.0%

5.0%

105

108

121

3.0%

3.0%

___Default and collections


_Payment
__Check processing

___Reference data management


___Portfolio accounting and reporting
____Reconciliation services

3.0%

3.0%

____Other portfolio accounting

100

103

116

3.0%

3.0%

__Trade Services

166

173

202

4.0%

4.0%

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BANKING BPO MARKET FORECAST: 2014-2018

Exhibit IV-11

Banking BPO Market Forecast by Market Segment


Other Asia: 2014 2018
Est. market Est. market Est. market
Growth CAAGR 2014
size 2013
size 2014
size 2018 2013 - 2014
- 2018

Service Type
Banking

797

844

1,060

5.8%

5.9%

_Core Banking

65

69

89

6.5%

6.5%

_Mortgage and Loan BPO

92

97

118

4.9%

4.9%

__Origination Services

35

36

43

4.2%

4.2%

5.0%

5.0%

___Fulfilment

28

29

34

4.0%

4.0%

__Mortgage and Loan Administration

58

61

75

5.4%

5.4%

___Servicing

52

55

68

5.5%

5.5%

4.0%

4.0%

240

254

321

5.9%

6.0%

17

16

15

-2.0%

-2.0%

__Credit card processing

198

211

271

6.5%

6.5%

___Merchant acquiring

137

146

188

6.5%

6.5%

___Card issuing

61

65

84

6.5%

6.5%

__EFT Services

25

27

34

6.5%

6.5%

_Securities

400

424

533

5.9%

5.9%

__Portfolio Services

306

324

410

6.0%

6.0%

8.0%

7.0%

303

321

405

6.0%

6.0%

___Sales

___Default and collections


_Payment
__Check processing

___Reference data management


___Portfolio accounting and reporting
____Reconciliation services
____Other portfolio accounting
__Trade Services

NelsonHall 2014

5.9%

6.0%

300

318

401

6.0%

6.0%

94

99

123

5.5%

5.5%

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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

C. Latin America
Market forecasts for Latin America are provided by geography and market segment in Exhibits IV-12 to
IV-15.
Exhibit IV-12

Banking BPO Market Forecast by Market Segment


Argentina: 2014 2018
Est. market Est. market Est. market
Growth CAAGR 2014
size 2013
size 2014
size 2018 2013 - 2014
- 2018

Service Type
Banking

737

761

868

3.2%

3.4%

76

80

97

5.0%

5.0%

180

187

219

4.0%

4.0%

__Origination Services

61

63

74

4.0%

4.0%

___Sales

12

13

15

4.0%

4.0%

___Fulfilment

49

50

59

4.0%

4.0%

119

124

145

4.0%

4.0%

___Servicing

96

99

116

4.0%

4.0%

___Default and collections

24

25

29

4.0%

4.0%

121

125

146

3.5%

4.0%

-2.0%

-2.0%

__Credit card processing

100

104

123

3.7%

4.3%

___Merchant acquiring

70

73

88

4.5%

4.9%

___Card issuing

30

31

35

2.0%

2.8%

__EFT Services

16

16

19

4.0%

4.0%

_Securities

360

369

405

2.3%

2.4%

__Portfolio Services

307

313

339

2.0%

2.0%

5.2%

5.0%

305

311

336

2.0%

2.0%

1.9%

2.0%

300

306

331

2.0%

2.0%

53

55

66

4.0%

4.5%

_Core Banking
_Mortgage and Loan BPO

__Mortgage and Loan Administration

_Payment
__Check processing

___Reference data management


___Portfolio accounting and reporting
____Reconciliation services
____Other portfolio accounting
__Trade Services

NelsonHall 2014

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BANKING BPO MARKET FORECAST: 2014-2018

Exhibit IV-13

Banking BPO Market Forecast by Market Segment


Brazil: 2014 2018
Est. market Est. market Est. market
Growth CAAGR 2014
size 2013
size 2014
size 2018 2013 - 2014
- 2018

Service Type
Banking

1,259

1,313

1,537

4.3%

4.0%

_Core Banking

126

132

164

5.5%

5.5%

_Mortgage and Loan BPO

276

286

332

3.8%

3.8%

__Origination Services

91

93

105

3.0%

3.0%

___Sales

18

19

21

3.0%

3.0%

___Fulfilment

72

75

84

3.0%

3.0%

__Mortgage and Loan Administration

185

193

227

4.2%

4.2%

___Servicing

148

154

180

4.0%

4.0%

37

39

47

5.0%

5.0%

246

254

287

3.0%

3.1%

20

20

18

-2.0%

-2.0%

__Credit card processing

200

207

238

3.5%

3.6%

___Merchant acquiring

139

144

169

4.0%

4.0%

___Card issuing

61

63

69

2.5%

2.5%

__EFT Services

26

27

30

3.0%

3.0%

_Securities

611

641

754

4.8%

4.2%

__Portfolio Services

511

537

635

5.0%

4.3%

7.9%

5.7%

508

533

630

5.0%

4.3%

___Default and collections


_Payment
__Check processing

___Reference data management


___Portfolio accounting and reporting
____Reconciliation services

10

5.0%

5.0%

____Other portfolio accounting

500

525

620

5.0%

4.3%

__Trade Services

100

104

119

3.5%

3.5%

NelsonHall 2014

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BANKING BPO MARKET FORECAST: 2014-2018

Exhibit IV-14

Banking BPO Market Forecast by Market Segment


Mexico: 2014 2018
Est. market Est. market Est. market
Growth CAAGR 2014
size 2013
size 2014
size 2018 2013 - 2014
- 2018

Service Type
Banking

1,022

1,074

1,286

5.1%

4.6%

89

93

110

4.3%

4.3%

203

213

255

5.0%

4.6%

__Origination Services

68

71

86

5.0%

5.0%

___Sales

14

14

17

5.0%

5.0%

___Fulfilment

54

57

69

5.0%

5.0%

__Mortgage and Loan Administration

135

142

168

5.0%

4.4%

___Servicing

108

114

137

5.5%

4.8%

27

28

31

3.0%

3.0%

253

262

306

3.8%

3.9%

15

15

14

-2.0%

-2.0%

__Credit card processing

219

228

268

4.1%

4.1%

___Merchant acquiring

152

160

195

5.0%

5.0%

___Card issuing

67

68

73

2.0%

2.0%

__EFT Services

19

20

24

5.3%

5.3%

_Securities

478

506

616

5.9%

5.0%

__Portfolio Services

408

433

526

6.0%

5.0%

8.1%

5.7%

405

430

523

6.0%

5.0%

_Core Banking
_Mortgage and Loan BPO

___Default and collections


_Payment
__Check processing

___Reference data management


___Portfolio accounting and reporting
____Reconciliation services
____Other portfolio accounting
__Trade Services

NelsonHall 2014

6.1%

6.0%

400

424

515

6.0%

5.0%

70

74

89

5.0%

5.0%

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July 2014

BANKING BPO MARKET FORECAST: 2014-2018

Exhibit IV-15

Banking BPO Market Forecast by Market Segment


Other Latin America: 2014 2018
Est. market Est. market Est. market
Growth CAAGR 2014
size 2013
size 2014
size 2018 2013 - 2014
- 2018

Service Type
Banking

690

726

869

5.2%

4.6%

_Core Banking

41

42

48

3.3%

3.3%

_Mortgage and Loan BPO

92

96

114

4.4%

4.4%

__Origination Services

31

32

36

3.2%

3.2%

4.0%

4.0%

___Fulfilment

25

26

29

3.0%

3.0%

__Mortgage and Loan Administration

61

64

77

5.0%

5.0%

___Servicing

48

51

63

5.5%

5.5%

___Default and collections

12

12

14

3.0%

3.0%

127

132

153

3.6%

3.8%

15

15

14

-2.0%

-2.0%

__Credit card processing

103

108

128

4.5%

4.5%

___Merchant acquiring

72

75

92

5.0%

5.0%

___Card issuing

31

32

37

3.3%

3.3%

__EFT Services

10

11

3.3%

3.3%

_Securities

430

456

554

5.9%

5.0%

__Portfolio Services

404

428

520

6.0%

5.0%

7.6%

5.8%

402

426

519

6.0%

5.0%

___Sales

_Payment
__Check processing

___Reference data management


___Portfolio accounting and reporting
____Reconciliation services
____Other portfolio accounting
__Trade Services

NelsonHall 2014

6.0%

6.0%

400

424

515

6.0%

5.0%

27

28

34

5.0%

5.0%

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BANKING BPO MARKET FORECAST: 2014-2018

Reconciliation
Banking BPO 2013
Following a review of the market concentrations by geography in banking BPO, the following changes
have been made:

An increase in core banking BPO of $241m, due to an increase in the U.K. of $241m as a result of the
inclusion of additional vendor activity

A reduction in mortgage and loan BPO of $4,304m. With the exception of the U.K. and Canada, the
market sizes for mortgage and loan BPO have been decreased across all geographies. This is the
result of a review of the market concentration in these geographies. The market concentration for
captured vendor revenues is now estimated at 54% globally rather than 28% globally.

A reduction in payment BPO of $3,807m. While the market size in the U.S. has been adjusted
downwards by 3.6% and that in EMEA downwards as a result of adjustments to the estimates for
Continental Europe, the main impact is the downward revision of the estimates for payments BPO in
the emerging markets of Asia Pacific and Latin America by $2,32m.

The securities BPO market for 2013 has been revised downwards by $2,419m or 5%, with these
downward revisions largely evenly spread across North America and EMEA
The overall net impact is a decrease in the 2013 market size for banking BPO of $10,289m.

Global Overview
Global banking BPO market reconciliation by service type is provided in Exhibit V-1.
Exhibit V-1

Global Banking BPO Market Reconciliation by Service Type


2013 Market
2013
Report

Service Type
Banking

2014
Report

2013 - 2017 CAGR


Variance
(%)

2013
Report

2014
Report

Variance

100,607

90,318

-10.2%

3.7%

3.8%

+0.1

3,783

4,024

+6.4%

3.6%

3.8%

+0.2

_Mortgage and Loan Banking BPO

13,265

8,961

-32.4%

3.7%

3.6%

-0.1

_Payment

35,627

31,820

-10.7%

3.0%

3.4%

+0.4

_Securities

47,932

45,513

-5.0%

4.2%

4.2%

-0.0

_Core Banking

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BANKING BPO MARKET FORECAST: 2014-2018

North America
North America banking BPO market reconciliation by service type is provided in Exhibit V-2.
Exhibit V-2

North America Banking BPO Market Reconciliation by Service Type


2013 Market
2013
Report

Service Type
Banking
_Core Banking
_Mortgage and Loan Banking BPO

2014
Report

2013 - 2017 CAGR


Variance
(%)

2013
Report

2014
Report

Variance

45,738

46,629

+1.9%

3.7%

3.7%

-0.0

1,136

1,136

+0.0%

3.3%

3.5%

+0.2

4,327

5,901

+36.4%

3.8%

3.6%

-0.2

_Payment

20,641

19,958

-3.3%

3.1%

3.5%

+0.4

_Securities

19,634

19,634

+0.0%

4.4%

4.0%

-0.5

United States
United States banking BPO market reconciliation by service type is provided in Exhibit V-3.
Exhibit V-3

United States Banking BPO Market Reconciliation by Service Type


2013 Market
2013
Report

Service Type
Banking

2014
Report

2013 - 2017 CAGR


Variance
(%)

2013
Report

2014
Report

Variance

41,991

42,883

+2.1%

3.7%

3.8%

+0.0

_Core Banking

1,033

1,033

+0.0%

3.3%

3.5%

+0.3

_Mortgage and Loan Banking BPO

4,152

5,726

+37.9%

3.8%

3.6%

-0.2

_Payment

19,235

18,552

-3.6%

3.1%

3.6%

+0.5

_Securities

17,572

17,572

+0.0%

4.4%

4.0%

-0.4

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BANKING BPO MARKET FORECAST: 2014-2018

Canada
Canada banking BPO market reconciliation by service type is provided in Exhibit V-4.
Exhibit V-4

Canada Banking BPO Market Reconciliation by Service Type


2013 Market
2013
Report

Service Type
Banking
_Core Banking
_Mortgage and Loan Banking BPO

2014
Report

2013 - 2017 CAGR


Variance
(%)

2013
Report

2014
Report

Variance

3,747

3,746

-0.0%

3.8%

3.2%

-0.6

103

103

+0.0%

3.5%

3.0%

-0.4

175

175

+0.0%

2.9%

2.8%

-0.0

_Payment

1,407

1,406

-0.1%

3.1%

2.9%

-0.2

_Securities

2,062

2,062

+0.0%

4.4%

3.5%

-0.9

EMEA
EMEA banking BPO market reconciliation by service type is provided in Exhibit V-5.
Exhibit V-5

EMEA Banking BPO Market Reconciliation by Service Type


2013 Market
2013
Report

Service Type
Banking

2014
Report

2013 - 2017 CAGR


Variance
(%)

2013
Report

2014
Report

Variance

35,467

29,603

-16.5%

3.7%

3.9%

+0.2

_Core Banking

1,550

1,791

+15.5%

3.5%

3.8%

+0.3

_Mortgage and Loan Banking BPO

3,080

960

-68.8%

3.4%

3.4%

+0.0

_Payment

9,800

8,808

-10.1%

2.9%

3.1%

+0.2

_Securities

21,037

18,044

-14.2%

4.1%

4.3%

+0.2

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BANKING BPO MARKET FORECAST: 2014-2018

United Kingdom
United Kingdom banking BPO market reconciliation by service type is provided in Exhibit V-6.
Exhibit V-6

United Kingdom Banking BPO Market Reconciliation by Service Type


2013 Market
2013
Report

Service Type
Banking
_Core Banking
_Mortgage and Loan Banking BPO

2014
Report

2013 - 2017 CAGR


Variance
(%)

2013
Report

2014
Report

Variance

7,784

8,026

+3.1%

3.4%

3.9%

+0.5

259

500

+93.1%

3.2%

3.7%

+0.5

514

514

+0.0%

2.8%

3.2%

+0.4

_Payment

2,368

2,368

+0.0%

2.9%

2.9%

+0.0

_Securities

4,643

4,644

+0.0%

3.8%

4.5%

+0.7

France
France banking BPO market reconciliation by service type is provided in Exhibit V-7.
Exhibit V-7

France Banking BPO Market Reconciliation by Service Type


2013 Market
2013
Report

Service Type
Banking

2014
Report

2013 - 2017 CAGR


Variance
(%)

2013
Report

2014
Report

Variance

7,192

5,523

-23.2%

3.7%

3.3%

-0.5

_Core Banking

161

161

+0.0%

3.3%

3.1%

-0.2

_Mortgage and Loan Banking BPO

186

27

-85.5%

3.2%

2.7%

-0.5

_Payment

1,334

1,275

-4.4%

2.8%

3.0%

+0.2

_Securities

5,511

4,060

-26.3%

4.0%

3.4%

-0.6

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BANKING BPO MARKET FORECAST: 2014-2018

Germany
Germany banking BPO market reconciliation by service type is provided in Exhibit V-8.
Exhibit V-8

Germany Banking BPO Market Reconciliation by Service Type


2013 Market
2013
Report

Service Type
Banking
_Core Banking
_Mortgage and Loan Banking BPO

2014
Report

2013 - 2017 CAGR


Variance
(%)

2013
Report

2014
Report

Variance

5,735

4,781

-16.6%

3.6%

4.0%

+0.4

215

215

+0.0%

3.1%

4.0%

+0.9

568

76

-86.6%

3.2%

3.3%

+0.1

_Payment

1,368

1,730

+26.5%

2.7%

3.2%

+0.5

_Securities

3,585

2,760

-23.0%

4.1%

4.5%

+0.4

Italy
Italy banking BPO market reconciliation by service type is provided in Exhibit V-9.
Exhibit V-9

Italy Banking BPO Market Reconciliation by Service Type


2013 Market
2013
Report

Service Type
Banking
_Core Banking

2014
Report

2013 - 2017 CAGR


Variance
(%)

2013
Report

2014
Report

Variance

1,398

1,123

-19.7%

3.6%

3.8%

+0.2

59

59

+0.0%

3.2%

3.3%

+0.1

_Mortgage and Loan Banking BPO

258

32

-87.6%

3.2%

3.2%

-0.0

_Payment

287

437

+52.3%

2.8%

2.6%

-0.1

_Securities

794

595

-25.1%

4.0%

4.6%

+0.7

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BANKING BPO MARKET FORECAST: 2014-2018

RoEMEA
RoEMEA banking BPO market reconciliation by service type is provided in Exhibit V-10.
Exhibit V-10

RoEMEA Banking BPO Market Reconciliation by Service Type


2013 Market
2013
Report

Service Type
Banking
_Core Banking

2014
Report

2013 - 2017 CAGR


Variance
(%)

2013
Report

2014
Report

Variance

13,359

10,150

-24.0%

3.8%

4.2%

+0.4

856

856

-0.0%

3.7%

3.9%

+0.1

_Mortgage and Loan Banking BPO

1,555

311

-80.0%

3.7%

3.9%

+0.2

_Payment

4,443

2,998

-32.5%

3.0%

3.3%

+0.3

_Securities

6,504

5,985

-8.0%

4.3%

4.6%

+0.3

Asia Pacific
Asia Pacific banking BPO market reconciliation by service type is provided in Exhibit V-11.
Exhibit V-11

Asia Pacific Banking BPO Market Reconciliation by Service Type


2013 Market
2013
Report

Service Type
Banking

2014
Report

2013 - 2017 CAGR


Variance
(%)

2013
Report

2014
Report

Variance

13,532

10,378

-23.3%

3.6%

3.9%

+0.3

766

766

+0.0%

4.1%

4.1%

+0.0

_Mortgage and Loan Banking BPO

3,789

1,350

-64.4%

3.9%

3.5%

-0.4

_Payment

3,793

2,307

-39.2%

3.0%

3.3%

+0.3

_Securities

5,184

5,955

+14.9%

3.7%

4.2%

+0.4

_Core Banking

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BANKING BPO MARKET FORECAST: 2014-2018

Central and Latin America


Central and Latin America banking BPO market reconciliation by service type is provided in Exhibit V-12.
Exhibit V-12

Central and Latin America Banking BPO Market Reconciliation by Service Type
2013 Market
2013
Report

Service Type
Banking

2014
Report

2013 - 2017 CAGR


Variance
(%)

2013
Report

2014
Report

Variance

5,869

3,708

-36.8%

3.6%

4.3%

+0.7

331

331

+0.0%

3.9%

4.8%

+0.9

_Mortgage and Loan Banking BPO

2,069

750

-63.8%

3.6%

4.2%

+0.7

_Payment

1,393

747

-46.4%

2.8%

3.5%

+0.7

_Securities

2,077

1,880

-9.5%

3.9%

4.5%

+0.5

_Core Banking

Sales Enquiries
NelsonHall will be pleased to discuss how we can bring benefit to your organization. You can contact
us via the following relationship managers:
Buy-Side Enquiries:
Robert Dagge at Robert.dagge@nelson-hall.com

research.nelson-hall.com

Vendor Enquiries:
Lindsey Ball at Lindsey.ballk@nelson-hall.com

Important Notice
Copyright 2014 by NelsonHall. All rights reserved. Printed in the United Kingdom. No part of the publication may be reproduced or distributed in any
form, or by any means, or stored in a database or retrieval system, without the prior written permission of the publisher. The information provided in
this report shall be used only by the employees of and within the current corporate structure of NelsonHalls clients, and will not be disclosed to any
other organization or person including parent, subsidiary, or affiliated organization without prior written consent of NelsonHall. NelsonHall exercises its
best efforts in preparation of the information provided in this report and believes the information contained herein to be accurate. However, NelsonHall
shall have no liability for any loss or expense that may result from incompleteness or inaccuracy of the information provided.

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