BEIJING, September 17, 2015 /PRNewswire/ – Pactera Technology International Ltd. (Pactera) is pleased to announce they have ranked in the top 100 (#59) on the 2015 IDC Financial Insights FinTech Rankings. The most comprehensive vendor ranking within the financial services and insurance industry, the annual IDC FI FinTech Rankings is based on 2014 calendar year revenues attributed to financial institutions.
Now in its 12th year, the IDC FI FinTech Rankings categorize and evaluate the top global providers of financial technology based on calendar year revenues from financial institutions for hardware, software, and/or services. These providers supply the technological backbone of the financial services industry, an industry in which IDC Financial Insights forecasts worldwide spending on IT across the globe to reach half a trillion dollars by 2018.
Pactera’s solution portfolio focuses on business outcomes and value by accelerating new product launches, simplifying digital distribution channels and modernizing core systems in several important sub-segments of the global financial services and insurance industries. IDC’s recognition of Pactera as a Top 100 IT service provider underscores the company’s strength in the banking, financial services and insurance (BFSI) industry, as well as market confidence in Pactera’s services, solutions and delivery quality.
“Our deep experience and emphasis on BFSI as a vertical market have helped ensure that our business is mature, process-driven and ready to expand to key markets,” said Balaji Yellavalli, president, North America and European Operations. “Led by our strong team of leaders armed with extensive industry knowledge and a global track record of success, we are expanding our BFSI leadership to include solution-driven experts in management consulting and innovation. These efforts will strengthen Pactera’s presence and fuel growth in the North American market.”
A key component of this expansion is Innoveo Skye, a multi-channel web-based software that enhances the way that insurance companies bring products to market with dynamic configuration of insurance products, processes and distribution channels. The application has proven success in the insurance industry, including withSwitzerland’s largest insurance company.
“We believe that the capabilities and power of the solutions suite will speak for themselves as we showcase Innoveo for the U.S. and Canadian markets,” said Yellavalli. “We are also engaging in partnerships with leading enterprise software application providers and infrastructure providers to bring clients solutions that have benefitted BFSI companies in other markets.”
As part of its expansion, Pactera will be embarking on a customer-centric approach by introducing design thinking across its North American BFSI clients. Pactera seeks to continually innovate for companies in the BFSI industry to deliver differentiated value-added services, with discipline that assists in developing creative solutions. Pactera’s design thinking initiative, headlined by collaborative and interactive workshops, highlights experimentation and prototyping by enabling clients to not only think from an end user perspective, but also to apply rapid market testing and real-time feedback to develop a “fail-fast and fail-cheap” approach. “The insurance industry is undergoing an unprecedented transformation from being resistant to the adoption of technology to using technology as a market differentiator,” said Yellavalli. “Pactera, with its design thinking approach and Innoveo platform, will help insurers position themselves as innovators in this transformation.”