PwC is a Leader and Star Performer in Everest Group Financial Crime and Compliance PEAK Matrix®

Everest Group recently released its report titled ‘Financial Crime and Compliance (FCC) Operations Services PEAK Matrix® Assessment 2024. 

In the report, it states that, ‘The Financial Crime and Compliance (FCC) operations landscape is rapidly expanding, propelled by Financial Institutions (FIs) addressing cost constraints, geopolitical pressures, evolving regulations, and persistent financial crime threats. Amid these challenges, the demand for digital-led FCC support is surging. Service providers are capitalizing on opportunities to augment capabilities, providing advisory services, platform-led solutions, and innovative offerings to serve the industry's growing needs. Stakeholders prioritize efficiency and productivity by reducing false positives and mitigating potential losses from regulatory fines.’ 

Everest Group conferred the Star Performers title on providers that demonstrated the strongest forward and upward movement (2022-24) on the PEAK Matrix®.

‘In today's dynamic landscape of financial crime and compliance, there's a notable rise in demand for strategically crafted approaches that blend flexibility with advisory-led go-to-market strategies,’ stated Dheeraj Maken, Practice Director, Everest Group. ‘PwC's significant investments in AI powered Platform as a Service, its robust partnership network, and dedication to talent development have solidified its market position. Through innovative pricing structures and platform-based modular offerings, PwC has successfully attracted next-generation buyers, earning recognition as a Leader and Star Performer in our FCC Operations PEAK Matrix® Assessment 2024.’

On defining the Leaders, the report says:

• ‘These companies exhibit a relatively broad set of capabilities across know-your-customer (KYC) onboarding, Enhanced Due Diligence (EDD), AML monitoring, AML reporting, fraud management, and chargeback.

• They have expanded their presence across all major geographies, including North America, Continental Europe, the UK, and APAC.

• Leaders maintain a balanced mix of onshore, nearshore, and offshore delivery locations to provide cost arbitrage as well as flexibility to their clients.’

Commenting on PwC’s strengths, some of the ones mentioned by Everest Group are:

• PwC secured significant revenue growth through new client acquisitions, renewed contracts, and strategic expansion into new offshore delivery locations.

• Leveraging innovative pricing constructs helped PwC gain traction with next- generation buyers.’    

Sean Joyce, Partner, Global Cybersecurity and Privacy Leader, PwC US, said: ‘We are delighted to be named a Leader and a Star Performer by Everest Group.  At PwC, our risk management technology can help our clients navigate the various phases of the risk management life cycle so that their business can stay ahead of threats. Our sophisticated, flexible, tech-powered risk management products can take them beyond compliance to help their business stay ahead of financial crimes.’ 

Click here to read the report.