NTT DATA's Open Banking Practice Positioned as Leader in Everest Group PEAK Matrix for Open Banking IT Services 2020 Assessment Report
TOKYO, May 29, 2020 /PRNewswire/ -- NTT DATA Corporation has been positioned as a Leader in Everest Group's Open Banking IT Services PEAK® Matrix Assessment 2020. The PEAK Matrix is an objective, data-driven framework for identifying the relative market success and capabilities of service providers. The assessment reviewed the Open Banking market beyond compliance and looked at best practice and innovation in platform-based operating models of ecosystem orchestration and value creation.
NTT DATA's Open Banking Practice was awarded Leader status. Leaders are trusted partners in BFS enterprises' digital transformation agendas, driving open API strategy through their depth of expertise in API management, core modernization initiatives, and global delivery capabilities. To be positioned as a Leader, an organization has to prove Open Banking regulations-specific domain expertise and solid investment in IP, tools, and frameworks to assist clients throughout their Open Banking journey.
Leaders provide the industry with vision by expanding their scope of service offerings to enable banks to orchestrate an open and collaborative environment and go beyond compliance to generate business value from Open Banking.
NTT DATA's Open Banking Practice scored highly on:
- Market adoption and value delivered to a broad client base and deal wins across banking.
- Innovation, investment, vision, and strategy.
- Investments in talent and innovation labs to extend and establish its global footprint with a base in LATAM and the US for capturing the emerging demand for Open Banking.
Notably, the client interviews conducted by Everest Group during the report process highlighted NTT DATA's expertise in domain and technology, open-ended communication, and resource availability as key differentiators.
"A mix of regulatory and market forces is driving BFS firms to develop an open and collaborative environment in which to build a financial services/products ecosystem. Open Banking has been a key enabler in changing the role of BFS firms from financial services providers to lifestyle experiences orchestrators," according to Ronak Doshi, Vice President, Everest Group. "A robust offerings portfolio that includes a proprietary Open Banking platform, meaningful expansion of its domain-focused consulting talent pool, and significant market success across a broad client base, have helped NTT DATA secure a position as a Leader on Everest Group's Open Banking IT Services PEAK Matrix® Assessment 2020."
Manuel Romero, Global Head of NTT DATA's Open Banking Practice said: "Open Banking will change the structure of banking as new operational models arise through open innovation and platform-based business models. NTT DATA is committed to helping clients transform their current core business and accelerate the launch of new digital ventures to compete. We work in partnership with banks, fintechs, and other financial services providers to ensure they are digital and open by design to compete with new digital players.
"We are delighted to be positioned in Everest Group's prestigious and trusted Open Banking IT Services Peak Matrix 2020 and look forward to continuing to innovate and deliver value in partnership with our clients."
The Everest Group Open Banking IT Services Assessment PEAK Matrix 2020 report assessed the 24 leading Open Banking IT service providers for their vision and capability. It also evaluated the market impact generated by each IT service provider. Each vendor profile provides a comprehensive picture of the service provider's service focus, key partnerships, domain investments, and relevant case studies. The assessment is based on Everest Group's annual RFI process for calendar year 2019, client reference checks, and an analysis of the Open Banking market.
You can download the report here: https://www.nttdata.com/global/en/-/media/nttdataglobal/1_files/media/press-release/2020/me_pr_may_28_01.pdf?la=en&hash=26C42DEDD9239531DC4CBF082F2AF1796CFC6ED0
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