1. Topic: BFSI AO Service Provider Profile Compendium Capital Markets AOBanking, Financial Services, and Insurance (BFSI) OutsourcingReport: January 2013 Preview Deck Copyright 2013, Everest Global, Inc. EGR-2013-11-PD-0837

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Our research offerings for global servicesSubscription information Market Vista The full report is included in Global services tracking across functions, sourcing models, locations, andthe following subscription(s)service providers industry tracking reports also available Banking, financial services, insurance Banking, financial HealthcareFinance & accounting services, insurance In addition to publishedresearch, a subscription may Informationinclude analyst inquiry, dataProcurement Cloud Vista technologycuts, and other services If you want to learn whether Human resources Recruitment process Global sourcingyour organization has asubscription agreement orrequest information on pricing Service providerTransaction PricePointand subscription IntelligenceIntelligenceoptions, please contact us: info@everestgrp.comCustom research capabilities +1-214-451-3110 Benchmarking | Pricing, delivery model, skill portfolio Peer analysis | Scope, sourcing models, locations Locations | Cost, skills, sustainability, portfolio Tracking services | Service providers, locations, risk Other | Market intelligence, service provider capabilities, technologiesCopyright 2013, Everest Global, Inc.2 EGR-2013-11-PD-0837 3. Background and scope of the researchBackground of the research BFSI industry continues to be the largest adopter of the IT Application Outsourcing (AO) services.However, the industry dynamics changed significantly over the last 12 to 24 months. BFSI buyers are facingincreasing pressure to drive top-line growth, manage complexity arising out of wide-scale regulatoryreforms, and improve profitability by driving greater cost efficiencies. In order to achieve this, buyers arefocusing on optimizing their portfolio of AO service providers At the same time, service providers in the BFSI AO space are also ramping up their capabilities, building upscale, and investing in developing and acquiring IP/proprietary solutions. They are also formingalliances, which allow them to undertake and deliver on large-sized, annuity AO engagements. Thecompetitive intensity in the BFSI AO services space is at an all-time high. As a result, it is becoming difficultto differentiate among service providers based purely on delivery capabilities. It is, therefore, critical to havea comprehensive, well-rounded, and fact-based assessment of service providers BFSI AO valueproposition In this research, we present detailed profiles of the 20 service providers featured on the capital markets AOPEAK Matrix. Each profile provides a comprehensive picture of the service providers service suite, scale ofoperations, domain investments, and delivery locationsScope of this reportThis report includes detailed profiles of the following 20 service providers1: Capital markets AO PEAK Leaders: Accenture, Cognizant, IBM GS, Infosys, and TCS Capital markets AO PEAK Major Contenders: Capgemini, CGI, CSC, EPAM, HCL, Headstrong, HPES, iGATE, L&T Infotech, Polaris, and Wipro Capital markets AO PEAK Emerging Players: Dell Services, Luxoft, MphasiS, and Syntel1 The scope of the report covers service provider information up to December 2011Copyright 2013, Everest Global, Inc. 3 EGR-2013-11-PD-0837 4. Table of contents(page 1 of 2)TopicPage no.Introduction and overview5Everest Group capital markets AO PEAK Matrix11Section I: Profiles of capital markets AO Leaders 17 Accenture 18 Cognizant 24 IBM 30 Infosys 36 TCS 42Section II: Profiles of capital markets AO Major Contenders 49 Capgemini 50 CGI 56 CSC 62 EPAM67 HCL Technologies73 Headstrong79 HP Enterprise Services84Copyright 2013, Everest Global, Inc.4 EGR-2013-11-PD-0837 5. Table of contents(page 2 of 2)TopicPage no.Section II: Profiles of capital markets AO Major Contenders (continued) iGATE 89 L&T Infotech94 Polaris100 Wipro106Section III: Profiles of capital markets AO Emerging Players 112 Dell Services113 Luxoft 119 MphasiS124 Syntel 130Appendix 136 Glossary of key terms137 2012 BFSI research agenda139 Additional BFSI research references141Copyright 2013, Everest Global, Inc.5 EGR-2013-11-PD-0837 6. This Everest Group report is a compendium of detailedprofiles of 20 service providers featured on Everest GroupsCapital Markets AO PEAK Matrix BFSI Focus of reportBanking Capital marketsInsurance Retail financial services (B2C1) Investment banking Life and pensions Retail banking Asset management Property and casualty Lending Custody and fund administration Others Cards Brokerage Commercial banking (B2B2) Others3Services industryIT infrastructureIT application outsourcing Business processoutsourcing (IO) (AO) outsourcing (BPO)Consulting Traditional IO Application development BFSI-specific BPO IT strategy/operations Remote Infrastructure Application maintenance HROconsultingManagement (RIM) Independent testing FAO Business consulting Infrastructure Management Package implementation PO Infrastructure consultingServices (IMS) ERP services Contact center Infrastructure roll-outs Cloud Business intelligence/data Knowledge services warehousingThis report analyzes capabilities of service providers for IT application outsourcing in the capital markets subvertical with a focus on large(TCV >US$25 million), annuity-based multi-year (more than three years) relationships1 Business-to-consumer relationships2 Business-to-business relationships3 Includes other capital markets functions such as structured finance, treasury, FX, and horizontal functions including risk management, etc. Copyright 2013, Everest Global, Inc. 6EGR-2013-11-PD-0837 7. This report is a part of the Everest Groups series of ninereports focused on AO in BFSI in 2012Market Trends in IT Application Outsourcing ServicesFocus of reportEach report provides: Banking An overview of the application services market for the BFSI verticals, capturing key trendsin market size, growth, drivers and inhibitors, adoption trends, regional/functional break-outs of the market, emerging themes, key areas of investment, and implications for keyCapital Marketstakeholders Key movements in volumes/values of AO transactions, evolving trends, marketdynamics, and emerging priorities of buyers in the last 12 months InsuranceService Provider Landscape: IT Application Outsourcing Services Each report provides:Banking Assessment of service provider landscape in AO services and mapping of providers on Everest Groups PEAK Matrix as Leaders, Major Contenders, and Emerging Players Comparative evaluation of BFSI-AO capabilities of provider categories such as global majors, offshore majors, regional players, and tier-2 specialists. BenchmarkingCapital Markets scale, scope, domain investments, and delivery footprint of each providers BFSI-AO practice The 2012 BFSI-AO PEAK analyses focus on identifying the Star Performers, i.e., providers with strongest forward movement over time both in terms ofInsurance market success and capability advancementsService Provider Profiles Compendium: IT Application Outsourcing ServicesCapability profiles of service providers capturing their AO services experience in specific Bankingsubverticals. Each service provider profile includes: Service provider overview details of AO services capabilities, keyinvestments, proprietary solutions, and technological expertise Capital Markets Functional / Line of Business (LoB) focus Transactions overview for application services offerings Delivery footprintInsuranceCopyright 2013, Everest Global, Inc.7 EGR-2013-11-PD-0837 8. Everest Groups BFSI research is based on two key sources ofproprietary information 1 Everest Groups proprietary database of more than 375 large, multi-year Service providers covered in the analysis AO contracts within BFSI (updated annually) The database tracks the following elements of each large AO relationship: Buyer details including industry, size, and signing region Contract details including TCV, ACV, term, start date, service provider, FTEs, and pricing structure Activity broken down separately for banking, capital markets, and insurance, and by line of business (for example, asset management, investment banking, brokerage, etc.) Scope includes coverage of buyer geography as well as functional activities Global sourcing, including delivery locations and level of offshoring 2 Everest Groups proprietary database of operational capability of more than 20 BFSI AO service providers (updated annually) The database tracks the following capability elements for each service provider: Major BFSI AO clients and recent wins Overall revenue, total employees, and BFSI employees Recent BFSI-related developments BFSI AO delivery locations BFSI AO service suite Domain capabilities, proprietary solutions, and intellectual propertyinvestments Note: We continuously monitor market developments and track additional service providers beyond those included in the analysisConfidentiality: Everest Group takes its confidentiality pledge very seriously. Any information, that is contract-specific, will be presented back to the industry only in an aggregated fashionCopyright 2013, Everest Global, Inc.8 EGR-2013-11-PD-0837 9. Company X | Capital markets AO profile(page 1 of 5)Corporate and BFSI overview >US$500 million US$100-500 million5,000 AO FTEs 100-500 AO FTEs1,000-5,000 AO FTEs