OREANDA-NEWS. August 29, 2016. "The disruption in the banking industry driven by economic uncertainty, digitalization, and a changing regulatory landscape is forcing service providers to focus beyond traditional IT services" said Jimit Arora, Partner, Everest Group. "Deep banking domain expertise, strong foothold in Europe, growth in North America, and enhanced delivery capabilities through the IGATE acquisition positioned Capgemini as a Leader and Star Performer on the 2016 Everest Group Banking AO PEAK MatrixTM."

In its comparative assessment across 28 IT service providers for banking Applications Outsourcing (AO) relationships greater than 3 years, that are annuity based with a total contract value greater than \\$25 million, Everest Group named Capgemini one of five “2016 Banking AO Market Star Performers,based on year-on-year movement on the PEAK Matrix. Firms designated as Leaders in the report invested aggressively in developing solutions/tools, acquisitions and alliances and focused on automation, risk & regulatory compliance and digital (including cloud, mobility and analytics).

Capgemini was cited for its success in penetrating key North American accounts, strengthening capabilities in validation services, data analytics, offering bundled business processing outsourcing services AO, and expanding its offshore capabilities. Acquiring IGATE by which it added scale, additional domain expertise and brand visibility in North America also fueled Capgemini’s movement into the 2016 PEAK Matrix Leader quadrant.

Anirban Bose, Head of Global Banking and Capital Markets, Capgemini, said, "Recognition as a Leader by Everest Group’s PEAK Matrix represents a significant accomplishment in the banking marketplace and it encourages us to continue to continue to strive to provide forward-looking solutions in collaboration with our clients.. Thanks to Everest Group for their research efforts and recognition, and to our clients for their trust in us as partners."