Half of Global Banking and Financial Services BPO Growth in 2011-2012 Driven by Small Financial Institutions: Everest Group Report Setup Outlook to access Hotmail via POP3

(PRWEB) August 22, 2013

The Banking and Financial Services (BFS) Business Process Outsourcing (BPO) market grew by 16 percent globally in 2012, a robust growth rate driven by small financial institutions seeking to grab a portion of the efficiency benefits promised by BPO services. Adoption of BFS BPO from small financial institutions accounted for more than 50 percent of new contracts in 2012.

The data and insights are included in a new report issued by Everest Group, an advisory and research firm on global services.

The report, Banking and Financial Services (BFS) BPO Annual Report 2013 – Small is the New Big!, chronicles how a higher proportion of contracts in 2012 were extensions or renewals as compared to new contracts. The overall value proposition of BFS BPO continues to be strongly driven by cost reduction. This report aims to assist buyers, service providers and technology providers in understanding the changing dynamics of the BFS BPO market and help them identify the trends and outlook for 2013.

The salient points of the report are: