Firstsource Solutions Limited Earns Dual Recognitions in Banking Operations
Firstsource Solutions Limited (NSE: FSL) (BSE: 532809), an esteemed provider of business process management services under the RP-Sanjiv Goenka Group, has achieved significant accolades for its Banking Operations prowess. Recently, the company was recognized as a Leader and Star Performer in the Everest Group Banking Operations – Services PEAK Matrix® Assessment 2025, along with being named a Leader in the NelsonHall NEAT 2025 evaluation for GenAI & Process Automation in Banking.
Validation of Banking Operations Excellence
These prestigious recognitions reflect independent validation of Firstsource's ability to deliver regulated, outcome-oriented banking operations on a large scale. This is underpinned by advanced technologies including AI, automation, and significant domain expertise across various functions such as:
- Lending
- Payments
- Servicing
- Compliance
- Fraud Management
- Document Processing
- Workflow Automation
Strategic Insights from Firstsource Leaders
Vivek Sharma, Head of BFS, CMT & Emerging Geos at Firstsource, commented, "Being recognized by Everest Group and NelsonHall validates the direction we're taking in banking operations – moving from labor-centric models to AI-native, outcome-driven operations." He emphasized the commitment to scaling GenAI and automation to enhance banking workflows and deliver efficient results for clients.
Analyst Recognition for Comprehensive Banking Coverage
The Everest Group assessment highlights Firstsource's extensive coverage in banking operations, particularly in:
- Transaction Processing
- Lending
- Payments
- Customer Servicing
Mr. Ronak Doshi, Partner at Everest Group, stated, "Firstsource continues to expand its role in banking operations through integrated support across cards, lending, collections, and financial crime." His insights reflect the impact of Firstsource's UnBPO™ framework, which complements its various automation initiatives.
Embedding GenAI and Process Automation
Nielsen recognizes Firstsource's efforts to embed GenAI and process automation in managed services and BPaaS within the banking sector. This is supported by:
- Deep lending and mortgage expertise
- Tailored solutions for local institutions
- A focused GenAI workforce
According to Andy Efstathiou, Program Director for Banking at NelsonHall, "Firstsource's GenAI and automation offerings enable banks to transform their operations efficiently." This includes enhancing cybersecurity through AI applied to images and videos.
Conclusion and Future Implications
As banks globally face pressure to reduce cost-to-serve and modernize legacy workflows, these dual recognitions solidify Firstsource's status as a trusted partner in banking operations modernization. The company continues to innovate with secure, production-grade AI and automation solutions, further enhancing its market leadership.
About Firstsource Solutions
Firstsource Solutions Limited, part of the RP-Sanjiv Goenka Group (NSE: FSL) (BSE: 532809), is a leading provider of business process solutions spanning various sectors including Healthcare, Banking and Financial Services, and Communications. With a global presence in the US, UK, India, and other countries, Firstsource leverages its differentiating approaches such as UnBPO™ to provide transformative solutions tailored to client needs.