Syntel: A Deep Dive into a Former Finance Powerhouse

Syntel, before its acquisition by Atos in 2018, was a prominent global provider of information technology and knowledge process outsourcing (KPO) services. While not exclusively focused on finance, the financial services sector was a significant revenue driver and area of expertise for the company.

Syntel offered a wide array of solutions tailored to the specific needs of financial institutions. This included application development and maintenance, infrastructure management, testing services, and business process outsourcing. Their expertise spanned across various segments within the financial industry, including banking, insurance, and capital markets.

Within banking, Syntel assisted institutions with core banking system modernization, digital banking solutions, risk management, and regulatory compliance. They helped banks streamline operations, improve customer experience, and navigate the increasingly complex regulatory landscape. Their capabilities extended to areas like loan origination, fraud detection, and anti-money laundering (AML) compliance.

In the insurance sector, Syntel offered solutions for policy administration, claims processing, actuarial services, and data analytics. They helped insurers optimize their operations, improve efficiency, and enhance customer service. With the increasing importance of data-driven decision-making, Syntel’s capabilities in data analytics and business intelligence were particularly valuable for insurance companies seeking to gain a competitive edge.

For capital markets firms, Syntel provided services related to trading systems, risk management platforms, and regulatory reporting. They helped these firms manage risk, improve operational efficiency, and comply with evolving regulatory requirements such as Dodd-Frank and MiFID II. Their expertise in areas like algorithmic trading, data analytics, and cloud computing was particularly relevant in the fast-paced and technologically advanced capital markets landscape.

Syntel’s success in the financial services sector stemmed from a combination of factors. They had a deep understanding of the industry’s specific challenges and requirements. They invested heavily in developing specialized expertise and capabilities. They built long-term relationships with their clients, acting as trusted partners rather than just service providers. And they were committed to delivering high-quality services that helped their clients achieve their business objectives.

While Syntel no longer exists as a standalone entity, its contributions to the financial technology landscape are undeniable. The expertise and capabilities developed within Syntel continue to be leveraged by Atos, contributing to their overall offerings in the financial services sector. Syntel’s legacy serves as a reminder of the importance of specialization, innovation, and client-centricity in the ever-evolving world of financial technology.