HCL Technologies (HCL), has been recognized as a Leader by Everest Group in its recently published report, “Retail Banking BPO – State of the Market with PEAK Matrix™ Assessment 2016”. According to the report, HCL has witnessed best-in-class revenue growth in retail banking BPO, supported by its strong capability in regulatory and risk management support services. It also highlights HCL’s balanced shoring mix with a strong presence in both onshore and offshore delivery locations.

For this study, Everest Group evaluated 19 retail banking BPO service providers and classified them into three categories of Leaders, Major Contenders, and Aspirants. Leaders demonstrated all–round excellence in terms of both market success and delivery capability.

“Retail banking as a market has seen increasing adoption of automation, leading to revenue cannibalization for most providers, especially those focused on more rule-based tasks,” said Manu Aggarwal, Practice Director, Everest Group. “In such an environment, HCL, with its strong capabilities in judgment-driven processes such as risk & compliance, regulatory reporting, etc., has been able to not only defend its position but also grow in a space undergoing massive transformation.”

“HCL is proud to be positioned among leaders for Retail Banking BPS by Everest Group. This recognition underscores HCL’s strengths in automation–based offerings, deep domain expertise, flexible engagement models and a unique portfolio of digital and technology–led solutions across retail origination, helping clients optimize business processes and achieve better business outcomes,” said Anoop Tiwari, Corporate Vice President and Global Head – Business Services, HCL Technologies.

For over a decade, HCL has been providing a range of Business Services to its retail banking clients, covering savings & deposits, loans, underwriting, KYC/AML, customer acquisitions and multi-product services.  With rich experience in retail banking domain, HCL has been at the forefront, addressing the changing needs of industry participants through technology and automation–led solutions and service offerings which transform business operations. HCL’s focus on digitizing operations helps clients deliver enhanced customer experience and resolve customers’ business challenges, which tremendously assists in creating deep customer relationships.