Horizon 3 is growth: <\/strong>Horizon 2 + ability to drive OneEcosystem\u2122 synergy via collaboration across multiple organizations with common objectives around driving completely new sources of value<\/li>\n<\/ul>\nThe purpose of the HFS Horizons model is to align enterprise objectives<\/strong> with service provider value<\/strong>. We assessed 21 service providers<\/strong> across their value propositions (the why), execution and innovation capabilities (the what), go-to-market strategy (the how), and market impact criteria (the so what) to best understand and plot the value they offer to their retail banking clients. \u00a0Here are the results:<\/p>\n![\"\"](\"https:\/\/www.horsesforsources.com\/wp-content\/uploads\/2023\/02\/linkedin-image-hfs-horizons-retail-banks-1024x1024.jpg\")
<\/p>\n
Note: All service providers within a \u201cHorizon\u201d are listed alphabetically<\/em><\/p>\nThe Horizon 3 leaders are, in alphabetical order, Accenture, Deloitte, EY, Infosys, TCS, and Wipro. These service providers have demonstrated their ability to support retail banks across the journey from functional digital transformation to enterprise-wide modernization to creating new value through ecosystems.<\/p>\n
These leaders\u2019 shared characteristics include deep industry expertise across the retail banking value chain, a full-service approach across consulting, IT, and operations, a strong focus on innovation, internally and externally with partners, co-innovation with clients and partners, and proven impact and outcomes with its retail banking clients around the world.<\/p>\n
Retail banks should select their partners based on the value they seek.<\/strong><\/p>\nThe HFS Horizons model aligns closely with enterprise maturity. We asked the retail banking leaders we interviewed as references for this study to comment on the primary value delivered by their service provider partners today and in two years. Overwhelming, respondents indicated that the value realized today is Horizon 1\u2014functional digital transformation focused on digital and optimization outcomes (72%). Two years from now, the story changes with an enhanced focus on using service providers to help achieve enterprise transformation (24%) and a heavy focus on driving growth and new value creation through ecosystem transformation (28%). Retail banks should select their partners based on the value they seek. The most effective service providers of the future need to enable the growth and transformation of retail banks across the ecosystem continuum.<\/p>\n
Which of the following statements best represents the primary value delivered by your service provider today? And in the next two years?<\/strong><\/p>\n![\"\"](\"https:\/\/www.horsesforsources.com\/wp-content\/uploads\/2023\/02\/HFS-HZ-2023-roles-1024x482.jpg\")
<\/p>\n
N=41 retail bank respondents<\/em>
\nSource: HFS Research, 2023<\/em><\/p>\nThe Best Service Providers for Retail Banks, 2023\u2014Disruptors, Enterprise Innovators, and Market Leaders report highlights the value-based positioning for each participant across the three distinct horizons. It also includes detailed profiles of each service provider, outlining their provider facts, strengths, and development opportunities.<\/p>\n