System upgrades to changing market needs and leadership in new technologies contributes to top 10 placement for the seventh year
Nomura Research Institute, Ltd. (NRI), a leading provider of consulting services and system solutions, announced the company ranked No. 9 on the 2016 IDC Financial Insights FinTech Rankings. The most comprehensive vendor ranking within the financial services industry, the annual IDC FI FinTech Rankings is based on 2015 calendar year revenues attributed to financial institutions. This ranking marks the seventh consecutive year that NRI has been named a top 10 global financial technology firm by IDC Financial Insights.
In 2015, NRI has been focused on ensuring that its market leading systems are continually innovating with the rapid changes in the financial marketplace for their clients specifically around regulatory issues and IT cost reductions. This includes their PSS solution, a utility service for financial institutions, which integrates both Business Process Outsourcing (BPO) and Information Technology Outsourcing (ITO) services to improve the efficiency of back-office post-trade processes. By integrating BPO and ITO services, PSS enables its financial institution partners to standardize their business processes, improve back-office efficiency and flexibly adapt to regulatory and infrastructural changes. UBS Securities Japan Co., Ltd. became the first adopter of NRI’s PSS last year.
Another prominent achievement undertaken this year is the expansion and investment into the exploration of new technologies in FinTech including blockchain. NRI worked with the Japan Exchange group as well as Nomura Securities, SBI Securities, Mitsubishi UFJ Financial Group and others to lead two proof-of-concept initiatives to examine the applicability of blockchain. NRI keeps exploring the applicability of new technologies such as Artificial Intelligence and Application Programming Interface to lead the industry’s innovation.
NRI’s global expansion has also continued into 2016 with the recent acquisition of Cutter Associates, the leader in investment operations consulting and research.
“NRI has always kept an eye toward the future, anticipating new market changes and challenges for financial services firms and tailoring our solutions to fit these needs, while also working on how we can apply new and innovative technologies for increased efficiency within the industry,” says Hajime Ueda, Senior Corporate Managing Director of NRI. “We are honored to be recognized by IDC again this year for our continued commitment to excellence, and we look forward to serving our clients with the tools and solutions necessary to capitalize and innovate in this global market.”
Now in its 13th year, the IDC Financial Insights 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.
The annual IDC Financial Insights FinTech Rankings has become an important measure of the health and direction of technology in the industry and the emergence of innovative solutions from new players. In addition, the IDC Financial Insights FinTech Rankings serve as a critical tool for financial services institutions to use during strategic planning and to review in considering new investments in 3rd party solutions. IDC Financial Insights publishes a comprehensive report about the year's findings that is available to view or download HERE.
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