Firstsource named a 'Star Performer' and a 'Major Contender' in Everest Group's Financial Crime and Compliance (FCC) Operations Services PEAK Matrix® Assessment 2025
Everest Group recognized Firstsource for its strong UK presence, expanded scope from fraud specialization to end-to-end FCC operations, and its AI-powered, BPaaS-led delivery model. The Star Performer distinction, awarded selectively to providers demonstrating the most substantial year-on-year progress, underscores the success of Firstsource's differentiated UnBPO™ strategy in reshaping FCC delivery.
Vivek Sharma, Head – BFS, CMT, and Emerging Geos, Firstsource, shared, "Being named both a Major Contender and a Star Performer by Everest Group is strong validation of our strategy to build one of the most agile and future-ready FCC delivery models in the industry. The Star Performer distinction, especially, reflects the pace and quality of our progress. Through our UnBPO™ approach, we're blending deep domain expertise with GenAI and Agentic AI to help financial institutions detect, investigate, and respond to financial crime – faster, smarter, and with greater personalization. In the US, we're seeing strong momentum as more financial institutions choose us as their partner for scalable, AI-powered compliance – a clear signal that we're solving for today while building for what's next."
Dheeraj Maken, Practice Director, Everest Group, shared, "As buyers look for delivery partners that balance operational scale with targeted technology investments, Firstsource offers a geographically distributed FCC delivery model combined with gradual gen AI adoption.
Firstsource has invested in modular AI tools such as Firstsource relAI™ and Analyst Co-Pilot, alongside training initiatives through the Firstsource Academy to enhance its capabilities in alert handling, QA automation, and investigation workflows. These elements have contributed to its recognition as a Major Contender and Star Performer in our Financial Crime and Compliance (FCC) Operations Services PEAK Matrix® Assessment 2025."
Key highlights from the report:
AI-powered BPaaS model: Firstsource has evolved its BPaaS offering, initially anchored by the Muimos partnership, into a flexible and scalable platform that delivers end-to-end FCC coverage across AML, KYC, and fraud.
Future-ready workforce through FCC Academy: With GenAI-powered skilling solutions such as AI Coach and automation-led QA, the FCC Academy is accelerating analyst readiness and setting new benchmarks for professional FCC delivery.
Operational impact through modular AI and automation: Investments in solutions like Firstsource relAI™, Analyst Co-Pilot, and Digital Cockpit are reducing false positives, improving alert accuracy, and expediting fraud and AML investigations.
Balanced global presence: Building on its strong UK foundation, Firstsource is actively expanding FCC delivery capabilities in North America while leveraging offshore, nearshore, and client-site operations to provide scale, resilience, and regulatory alignment.
To download a copy of the report, please visit: https://www.firstsource.com/about/analyst-recognitions/everest-fcc-peak-matrix-2025-recognition
About Everest Group
Everest Group is a leading global research firm helping business leaders make confident decisions. Everest Group's PEAK Matrix® assessments provide the analysis and insights enterprises need to make critical selection decisions about global services providers, locations, products and solutions within various market segments. Likewise, providers of these services, products, and solutions, look to the PEAK Matrix® to gauge and calibrate their offerings against others in the industry or market. Find further details and in-depth content at www.everestgrp.com.
About Firstsource
Firstsource Solutions Limited, an RP-Sanjiv Goenka Group company (NSE: FSL) (BSE: 532809) (Reuters: FISO.BO) (Bloomberg: FSOL:IN), is a global leader providing business process solutions and services spanning the customer lifecycle across Healthcare, Banking and Financial Services, Communications, Media and Technology, Retail, and other diverse industries. With a global footprint across US, UK, India, Philippines, Mexico, Romania, Turkey, Trinidad & Tobago, South Africa, and Australia, we 'make it happen' for our clients, solving their biggest challenges with hyper-focused, domain-centered teams and cutting-edge tech, data, and analytics. Our inch-wide, mile-deep practitioners work collaboratively, leveraging UnBPO™ - our differentiated approach to reimagining traditional outsourcing - to deliver real-world, future-focused solutions that drive speed, scale, and smarter decision, turning transformation into tangible results for our clients. (www.firstsource.com)
Disclaimer
Licensed extracts taken from Everest Group's PEAK Matrix® Reports may be used by licensed third parties for use in their own marketing and promotional activities and collateral. Selected extracts from Everest Group's PEAK Matrix® reports do not necessarily provide the full context of our research and analysis. All research and analysis conducted by Everest Group's analysts and included in Everest Group's PEAK Matrix® reports is independent and no organization has paid a fee to be featured or to influence their ranking. To access the complete research and to learn more about our methodology, please visit Everest Group PEAK Matrix® Reports.
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