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The Outsourcing Potential Growth In The Indian Banking Industry - Bharatbook
Outsourcing in the Indian Banking Industry For Indian Customers Report ( http://www.bharatbook.com/Market-Research-Reports/Outsourcing-in-the-Indian-Banking-Industry-For-Indian-Customers.html ) elucidates about Indian Banking Indian Industry and its Outsourcing services.
The Indian banking industry is witnessing robust growth under the influence of a changing regulatory environment, rapid technological advancements, heightened competition and consolidation. This changing landscape in the banking industry is driving banks to explore the outsourcing option to achieve efficiencies.
Apart from the growth in the industry, centralization and penetration of IT systems, need to focus on core services, rapid scale up and introduction of new services are driving outsourcing in this industry.
Outsourcing revenues from the Indian banking industry are estimated at Rs. 4 b for FY08 and are expected to grow at a CAGR of 47% to touch Rs. 19 b by FY12. According to Arun Jethmalani, CEO, The outsourcing potential in the Indian banking industry will increase rapidly as banks strengthen their IT systems. Large international ...
... BPOs with their experience of serving global banks and an end-to-end services portfolio are better poised to capture this market in the long term.
The vendor landscape has over 50 large and small vendors. Large BPOs like WNS and Genpact traditionally catering to the international market are focusing on building their domestic BPO divisions. We have classified the vendor landscape in the domestic banking BPO into four categories:
* International leaders (established BPO vendors with strong presence in international BPO market like MphasiS)
* India leaders (primarily focused on domestic market like Aegis, InfoVision and Omnia BPO)
* Emerging companies (companies building capabilities and currently offering specialized services on a small scale like Caretel, vCustomer)
* 'Me-too' players (offering undifferentiated low value services)
In the absence of cost arbitrage, creating value from outsourcing will be a critical challenge in the domestic BPO. Building and maintaining meaningful differentiators will be critical to growth and profitability. Says Pranav Dixit, analyst and co-author of the report, With high growth in this space, international multi-service BPOs will leverage on the expertise gained from global banks to garner business from Indian banks.
Large scale multi-city operations, partnerships, ability to quickly ramp up operations while maintaining quality and developing advisory capabilities will be key success factors for outsourcing vendors focused on the banking industry. According to Neeraja Kandala, analyst "With further de-regulation in the banking industry and entry of several new private and foreign banks, the addressable market for banking BPO is expected to grow to 10 times the current revenues.
This report provides an in-depth analysis of the buyer as well as the vendor landscape. This study is based on extensive interviews with banks as well as vendors. The report is designed to help:
* Banks looking to outsource their services
* Existing vendors to assess the competitive environment in India
* Other potential vendors to assess opportunities in India
* Venture capital companies looking for investment opportunities in BPOs
* Researchers looking for information on domestic BPO industry
For vast range of market reports please visit : http://www.bharatbook.com/Market-Research/Banking-Technology.html
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Bharat Book Bureau
Tel: 91 22 27578668
Fax: 91 22 27579131
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Website: www.bharatbook.com
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