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Everest Group analysed the capabilities of 27 leading Capital Markets Application Outsourcing (AO) service providers, specific to the global capital markets sector. Hexaware was recognized for its comprehensive middle and back-office outsourcing capabilities for asset and wealth management clients and targeted FinTech partnerships on innovative data & analytics services and digital wealth management solutions. The company was named as one of the five 2016 Capital Markets AO Market Star Performers based on its strongest year-on-year movement on the PEAK Matrix.
This is an acknowledgment of Hexaware's enhanced delivery footprint, focused investments into the FinTech ecosystem, and winning of two new large AO deals that helped it achieve a growth of more than 20% in capital markets application outsourcing revenue in 2015. In addition, Hexaware has launched a delivery centre in Bucharest, Romania to help respond quickly and efficiently to capital market firms' needs, in those regions.
"Beyond a relentless push on cost containment, capital market firms are adopting disruptive business models, mutualizing costs through shared utilities, and investing in digital technologies to stay ahead of competition," said Jimit Arora, Partner, Everest Group. "Strong growth in capital markets applications services, investments in enhancing capabilities for asset and wealth management, enhanced delivery footprint, and high customer satisfaction contributed to Hexaware's positioning as a Star Performer and Major Contender on the 2016 Everest Group Capital Markets AO PEAK Matrix."
"The Capital market firms across the world deal with regulatory pressures, macro-economic uncertainty, heavy competition and are under pressure to reduce cost and increase revenue. Hexaware's disruptive Shrink IT Grow digital strategy, combined with its strategic alliances and key investments in Robotic Process Automation, Machine-to-Machine (M2M), Internet of Things (IoT) and data management has helped our capital market customers significantly reduce cost and be digitally competent," said Ravi Vaidyanathan, Executive Vice President and Global Head of Banking, Financial Services and Capital Markets, Hexaware Technologies. He added, "Also this recognition truly reinforces Hexaware's deep commitment, and strong delivery capabilities in servicing global capital market firms."
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