The global BFSI Business Process Outsourcing market is anticipated to grow at a significant CAGR of 9.6 % during the forecast period. Technology is transforming the BFSI sector, providing better reach, customer engagement, and improved customer experience. Digital platforms have enabled speed, efficiency, and transparency to ensure high levels of end-user satisfaction. Furthermore, the increasing adoption of digitization by BPO companies during the pandemic enabled BFSI to regain customer trust and establish a connection with clients through affordable, accessible, and accurate business operations. Moreover, institutions are seeking to digitalize their core processes to leverage the advantages of operational efficiency and reduced costs. Outsourcing of BFSI digitalization can be beneficial for institutions to ensure a seamless digital transformation. SBL Corp. states that it has innovative solutions to meet the digitalization needs of the BFSI sector, developed through years of research and backed by extensive exposure to the vertical.
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Every business across the world has been affected by the adverse impact of the Covid-19 pandemic. BFSI is rightly placed to help customers recover from the pandemic’s economic impact. Banks are simultaneously improving customer support by driving and sustaining the adoption of digital banking and encouraging outsourcing. Banks and other financial institutions are emphasizing optimizing their business operations by leveraging cloud-based applications and social media networking. Effective utilization and transformation of the data will assist the banks in gaining more customers and will improve customer satisfaction which will lead to long-term productivity.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Global Bfsi Business Process Outsourcing Market by Service Type
- Finance & Accounting
- HR
- KPO
- Procurement
- Customer Services
- Others
Global Bfsi Business Process Outsourcing Market by Deployment Model
- Cloud
- On-Premises
Global BFSI Business Process Outsourcing Market by Enterprise Size
- Large Size Enterprises
- Small & Medium Size Enterprises
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Acelerar Technologies
- Automatic Data Processing, Inc.
- Concentrix Corp.
- EXL Service
- Firstsource Solutions Ltd.
- Helpware
- IBM Corp.
- Invensis
- Intetics
- Maxicus
- Mphasis
- NTT Data Corp.
- Octopus Tech
- Plaxonic Technologies
- Premier BPO
- SunTec India
- Tata Consultancy Services Ltd
- TAG Eservices Private Ltd.
- Unity Communications
- Vserve
- Wipro Ltd.
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global BFSI business process outsourcing market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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