02 Jan 2017
3 MINS READ
Hexaware Technologies Limited, a leading global provider of Application, Infrastructure, BPS and Digital services, today announced that it had been recently recognized as a “Major Contender” and a “Star Performer” by Everest Group’s Global Capital Markets Application Outsourcing Service Providers’ research (October, 2016).
Everest Group analysed the capabilities of 27 leading Capital Markets Application Outsourcing (AO) service providers, specific to the global capital markets sector. The providers were mapped on Everest Group’s Performance, Experience, Ability, and Knowledge (PEAK) Matrix™ and assessed under various dimensions like market success in terms of revenue, capability advancements, data driven comparative assessment of service providers, number of clients and growth & implications for capital market buyers & service providers.
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. The Star Performer recognition 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 to all of these, Hexaware has strengthened its European presence by launching a delivery centre in Bucharest, Romania. This centre helps to 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, macroeconomic 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-toMachine (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.
Hexaware is a leading global provider of IT, Application, Infrastructure, BPS and Digital services. Our business philosophy of Shrink IT, Grow Digital allows customers to significantly shrink commodity IT spend while partnering with them to embrace digitalization. The Company focuses on key domains such as Banking, Financial Services, Capital Market, Healthcare, Insurance, Manufacturing, Retail, Education, Telecom, Travel, Transportation and Logistics. Hexaware is committed to deliver business results and leverage technology solutions by specializing in Application Development & Maintenance, Business Intelligence & Analytics, Quality Assurance and Testing Services, Infrastructure Management Services, Business Process Services and Enterprise Solutions. Founded in 1990, Hexaware has a well-established global delivery model armed with proprietary tools and methodologies, skilled human capital and SEI CMMI-Level 5 certification. For additional information logon to: www.hexaware.com
Certain statements in this press release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Hexaware has made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry.
For more information contact:
Hexaware Technologies Limited
Tel: +91 900 426 3405
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