At the forefront: Everest Group names TP a Leader in both banking and payments industries

The banking and payments industries are undergoing simultaneous, high‑velocity transformation, and the pace of change is outstripping many institutions’ ability to modernize and adapt. Many are turning to tech-enabled outsourcing partners equipped with deep domain expertise and an AI arsenal. Yet choosing a partner that delivers more than cost efficiency and can actually accelerate growth and value remains a challenge. To support these decisions, Everest Group recently published its Banking Operations-Services PEAK Matrix® and Payments Business Process Services (BPS) PEAK Matrix®, offering an independent view of how providers stack up across both sectors.

These PEAK Matrix® reports come at an ideal time as:

Bank expectations are rising faster than operational maturity. Banks are increasingly focused on operational agility, resilience, and digital scalability to navigate cost pressures and a dynamic regulatory environment. To meet these demands, they are investing heavily in artificial intelligence (AI), analytics, automation, and cloud-based solutions. Yet despite this surge in investments, 84% of US banking leaders face shareholder pressure to prove near-term ROI, while 36% admit they lack the tools to measure it effectively. The result is a widening execution gap.

Payments are surging and the knock-on effects has challenges. The payments ecosystem is growing rapidly and being pulled into greater complexity. Real‑time payments surged to 266.2B global transactions in 2023. Cross-border activity is exploding as well: global cross-border payments reached $190T in 2023 and are expected to hit $290T by 2030. This proliferation of rails, instruments, and jurisdictions has intensified pressure on compliance, reconciliation, fraud management, and data harmonization.

As such, service providers are quickly evolving to meet these complexities. Many are now delivering integrated, AI-powered solutions that transform traditionally manual processes, such as fraud management and dispute resolution, turning them into near real-time, self-healing workflows.

Against this backdrop, TP continues to strengthen its leadership at the forefront of the banking and payments sector. TP has been recognized as a Leader in two Everest Group PEAK Matrix® assessments: a Leader and Star Performer in the Banking Operations-Services PEAK Matrix®, and a Leader in the Payments Business Process Services (BPS) PEAK Matrix®.

These recognitions underscore TP's evolution from a traditional, efficiency-focused BPS provider to a digital-first, AI-enabled transformation partner for financial services institutions.

Some notable differentiators highlighted in Everest Group’s assessments include:

TP.ai Foundational AI Backbone (FAB): Our FAB architecture integrates automation, agentic AI, and human‑in‑the‑loop intelligence to enhance decision‑making, improve compliance accuracy, and accelerate processing speeds for critical workflows such as customer onboarding, fraud detection, and dispute resolution.

“Service‑in‑a‑Box” frameworks: TP has woven together proprietary tools (such as TP Interact, TP Recommender, and TP Fraud Prevention) and a robust partner ecosystem to provide ready-to-deploy solutions in fraud prevention, compliance, and payment operations. The solutions combine AI, analytics, and secure infrastructure to enable seamless, end‑to‑end digital payments management.

Moving forward, we’re doubling down on innovation, fueled by TP.ai FAB and continued investments in generative and agentic AI. Our recognition as a Leader reflects TP’s ability to meet the needs of diverse buyer segments, from large enterprises, mid-market banks, fintechs, and emerging digital banks. It further spotlights our commitment to helping clients advance, no matter where they are on their transformation journey.

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.