NTT DATA, a global digital business and IT services leader, has been positioned as a Leader in Everest Group’s Open Finance IT Services PEAK Matrix® Assessment 2022. The PEAK Matrix is an objective, data-driven framework for identifying the relative market success and capabilities of service providers.
This updated positioning comes shortly after NTT DATA was shortlisted for “Best Open Banking Solution – International” at the 2022 Banking Tech Awards, which aim to recognize excellence and innovation in the use of IT in banking and finance. NTT DATA was nominated for its Platea Banking digital open banking platform, which helps banks move towards a more modern, customer-centric mode of operation.
To qualify as a Leader in Everest’s PEAK Matrix, a service provider must be a trusted partner in business value creation and support enterprise-wide modernisation and cost take-out initiatives. Key characteristics of Leaders in the Open Finance IT Services space include having strong links with FinTechs, technology providers and governmental regulatory bodies around the world, investing extensively to improve and expand the scope of open finance IT services, and making acquisitions to improve the quality of services.
NTT DATA scored highly on:
- Market adoption and value delivered.
- Innovation, investment, vision and strategy.
- Having a framework to help applications developed for mainframes to run on open infrastructure.
- Partnerships and portfolio-strengthening acquisitions.
Notably, the client interviews conducted by Everest during the report process highlighted NTT DATA’s domain expertise and its role as a strategic partner in the engagement.
“A robust portfolio of industry-focused solutions, combined with the setup of centers of excellence have enhanced NTT DATA’s value proposition. This has also helped it expand into new geographies for open finance IT services,” said Pranati Dave, Practice Director, Everest Group. “Additionally, dedicated investments in acquisitions and partnerships with technology providers is helping NTT DATA drive a better end to end experience. This is spotlighted by strong recognition from clients on driving value-additions and bringing in domain expertise. All this has helped NTT DATA earn recognition as a Leader on Everest Group’s Open Finance IT Services PEAK Matrix Assessment 2022.”
“Open Banking and Open Finance are fast-growing areas with increasing competition between technology providers. Banks are looking for those they can trust, who can help them develop their talent, who will stay at the cutting edge of technology and become strategic partners.” said Kaz Nishihata, Senior Executive Vice President & Representative Director at NTT DATA Corporation. “Being named as a Leader in the Everest Open Finance IT Services PEAK Matrix® Assessment 2022 shows that NTT DATA is succeeding in delivering value to our clients.”
André Martins, Head of Innovation for Digital Financial Services at NTT DATA EMEAL, said: “We are delighted NTT DATA has again been recognized by Everest as a Leader in the Open Finance space. This positioning reflects our ongoing dedication to delivering value to our clients as Open Banking moves from compliance to driving new models of working and value chains. We will continue to invest in innovation and work with our partners to drive value for our clients in this dynamic space.”
The Everest Open Finance IT Services PEAK Matrix® Assessment 2022 report assessed 26 leading Banking and Financial Services (BFS) IT service providers for their vision and capability. It also evaluated the market impact generated by each IT service provider. Each provider profile delivers a comprehensive picture of its service focus, key Intellectual Property (IP) / solutions, domain investments, and case studies. The assessment is based on Everest Group’s annual RFI process for the calendar year 2022, interactions with leading IT service providers, client reference checks, and an ongoing analysis of the open finance IT services market.