According to a market report by Lucintel, the future of the global BFSI BPO service market looks promising with opportunities in the bank, capital market, and insurance company sectors. The global BFSI BPO service market is expected to reach an estimated $147.9 billion by 2028 with a CAGR of 9.1% from 2023 to 2028. The major drivers for this market are growing demand for cloud based and mobile-enabled BPO services, rising popularity of digital banking, and increasing adoption of robotics process automation in the banking industry to automate routine and predictable processes.

In this market, customer service, finance and accounting, human resource, KPO, and procurement & supply chain are the major segments of global BFSI BPO service market by service. Lucintel forecast that customer service is expected to witness highest growth over the forecast period due to the significant use of BPO services by BFSI to handle their marketing, customer retention, and customer relationship management, which are important for running the business.
Within this market, bank will remain the largest segment due to tremendous use of BPO by the banking and financial sectors to improve operations, deliver greater value to clients, and free up more labor and resources for essential duties.

North America will remain the largest region over the forecast period due to increasing preference for online banking services and growing adoption of cloud-computing among BPO firms in the region.

Accenture, Cognizant, Concentrix, Genpact, Infosys, Mphasis, and NTT Data are the major suppliers in the global BFSI BPO service market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected]