WNS Launches FINSIBLE to Support High-growth FinTechs Seeking Disruptor Success

1. Elena Christopher, Research Leader
Sam Duncan, Practice Leader
Kumar Nikhil Bhaskar, Senior Analyst
WNS launches FINSIBLE to
support high-growth fintechs
seeking disruptor success
JANUARY 2022

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© 2022, HFS Research
The Situation: As fintechs mature, they
need ecosystem support to continue
their growth and innovation. Most
service providers address this need with
an ad hoc approach. Maturing fintechs
need purpose-built capabilities - not
trickle-down offerings designed for
aging banks.
The fintech sector has been red-hot for a decade. Money is cheap at the tail-
end of the ongoing pandemic, spurred by low interest rates. Investors continue
to plow loads of venture capital and private equity money into the hands of the
global fintech community with investments, valuations, and exits all sky high.
Fintechs continue to evolve as both disrupters and enablers for established
financial services firms. But as HFS has been tracking, fintechs are obviously
not trapped in perpetual start-up mode. As fintechs grow up, there is a
massive need for operations support services to help them focus on what they
do best: innovation.
Business process outsourcing (BPO) firms have been talking about this
potential for years, but few firms have gone so far as to formalize a specific
fintech operations practice. Until now. At the tail-end of 2021, WNS has come
to the fore to support high-growth fintechs and launched FINSIBLE.

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© 2022, HFS Research
WNS FINSIBLE aims to do the
back-office heavy-lifting, allowing
fintech clients to focus on
continued innovation
WNS FINSIBLE, at its core, is a modular
“operations-as-a-service” offering, built upon
customizable and scalable operating models
bundled with technology, FTEs, and exception
handling. The offering combines analytics,
technology tools and platforms, and an
information security framework supported by
WNS’ industry expertise to help drive optimal
business operations. FINSIBLE offers an end-to-
end value chain of services across banking
processes, including payments, lending, and
compliance operations (Exhibit 1). By design,
WNS intends the offerings to work with fintechs
as they grow and mature. We previously spoke to
WNS and some of its fintech clients to
understand how this works in action. The
feedback indicated WNS is a critical element of
their growth strategy.
Purpose-built for fintechs
WNS did not rush into the launch of this offering.
Rather, in an ongoing effort to identify
underserved needs in financial services, WNS
spent a couple of years working with fintechs to
understand their unique challenges with a
particular eye to supporting rapid growth and
continuous change. Fintechs need their partners
to flex and change as quickly as they do. And, as
they generally lack legacy and are obsessed with
applied innovation, they generally expect tech-
enabled solutions that bring the best of hybrid
human and emerging technologies. The
outsourcing norms of established financial
services firms with lengthy contracting cycles and
multi-year, frozen-in-stone contracts built on FTEs
do not work with fintechs. Thus, FINSIBLE was
born, backed by 2,500 dedicated resources and
15 fast-growth clients and growing.
FINSIBLE uptake focuses on
financial crimes compliance and
customer experience
WNS has seen the biggest traction thus far with
financial crimes compliance and customer service.
For firms that have recently attained banking
licensure, such as its public domain client Varo
back in 2020, the ability to rapidly scale regulatory
compliance operations such as KYC, fraud
investigations, enhanced due diligence, and PEP
(politically exposed person) and sanctions
screenings is essential. Similarly, any fintech with
rapid growth in B2C or B2B customers needs to
ensure its customer service scales as fast as its
customer base across all channels. Both critical
growth enablers require people plus technology
and specialized domain expertise to succeed.
WNS’ FINSIBLE offers rapid scale, ongoing
rightsizing, and additional support across its
portfolio (Exhibit 1).
Exhibit 1: WNS’ FINSIBLE is a modularized offering to support back-office
operations for high-growth fintechs
Source: WNS, 2022
Deposit
& Payment
Operations
Lending
Operations
Compliance
Operations
Customer
Service
Advisory
Services
• Loan Origination
• Loan Underwriting
• Loan Servicing
• Identify Verification
• Monitoring Services
• Investigation Services
• Multi-lingual Sales
& Servicing
• UX Support
• Process design &
documentation
• Process control & QA
framework design
• Digital transformation
• Account Origination
• Account Servicing
• Payment Operations
Intelligent automation and digital solutions for improved operation efficiency, effectiveness and customer experience

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© 2022, HFS Research
The Bottom Line: When fintechs grow
up, they need a heck of a lot more than
a good idea and investors with deep
pockets. Ensuring operational
excellence is boring, but it is essential
on the fintech path to disruptor success.
Mature fintechs, like a certain global payments disruptor, got there because
they were smart enough to realize that disruptive technologies and innovative
approaches alone could not take them to the Promised Land. Operations
services may not be as cool and sexy as disrupting the global payments market
or scalping market share from established banks, but fintechs will fail without it.
Fintech leaders need to approach operations with as much gusto as they do
innovation—and trusted partners can help them get there.
WNS’ FINSIBLE offers a vetted and formalized approach to helping fintechs
scale and meet their growing employee, customer, and regulatory
commitments. The vetted approach makes all the difference as existing BPO
offerings focused on established banks will not fly here. WNS’ competitors that
offer only ad hoc support for fintechs should take note. WNS needs to
continue to showcase its results in the form of scaled fintechs making their
mark beyond being the venture capital flavor of the month.

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© 2022, HFS Research
Elena Christopher
Research Leader
Elena Christopher is a
Research Leader at HFS.
Elena leads HFS' coverage
of banking and financial
services (BFS) informed by
more than two decades of
collaboration and advisory
work with financial services
firms across banking, capital
markets, and regulatory
compliance. Her industry
alignment is complemented
by her emerging technology
coverage of Triple-A
Trifecta change agents—AI,
automation, and smart
analytics. Elena helps HFS
maintain its position as the
strongest impact thought
leader for business
operations and IT services
research.
HFS Research authors
Sam Duncan
Practice Leader
Sam Duncan is a Practice
Leader at HFS, based in
Cambridge UK. He graduated
from Bournemouth University
with a degree in economics,
throughout which he took a
particular interest in
macroeconomics, mainly how
the evolution of technology
accelerated globalization.
Throughout his education he
also spent some time
studying law, accounting and
investment management.
Kumar Nikhil Bhaskar
Senior Analyst
Nikhil is a seasoned research
professional delivering
excellence in strategic
consulting and innovation
through technology and
business insights. At HFS, he
works closely with practice
leaders to churn out valuable
insights for his clients,
particularly in BFSI sector. He
is also an ESG enthusiast.
Nikhil has over 10 years of
research, pre-sales and
competitive intelligence
experience in a multitude of
technical domains.

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@HFSResearch
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