Firstsource has been recognized by Everest Group as a Star Performer and Major Contender in the Financial Crime and Compliance (FCC) Operations Services PEAK Matrix® Assessment 2025.
Firstsource has made significant strides in delivering AI-enabled, end-to-end compliance solutions across AML, KYC, fraud management, and regulatory reporting.
Report highlights include:
The FCC Operations Services PEAK Matrix® 2025 by Everest Group evaluates the capabilities and performance of 36 leading service providers supporting banks and financial institutions in combating financial crime.
- Everest evaluation methodology and scope
- Characteristics of Leaders, Major Contenders, and Aspirants in FCC operations
- Everest Group’s evaluation of Firstsource: Market Impact and Strategic Vision
- Key strengths and differentiators that earned Firstsource its Star Performer recognition
Key takeaways:
Recognized for transformation-led FCC delivery
Firstsource earned the Star Performer designation for significant advancement in both capability and market impact. Moving beyond fraud-focused services, it now offers a fully integrated FCC suite spanning AML, KYC, scam management, and more.
Expanding footprint and domain strength
Firstsource has leveraged its strong UK foundation to establish comprehensive FCC delivery models across offshore, nearshore, and strategic client locations in the US and beyond. Its BPaaS model, originally anchored by the Muinmos partnership, is now powered by a broader ecosystem of tools like relAI, Digital Cockpit, and Co-pilot-based investigations.
End-to-end FCC expertise across the value chain
From trigger-based onboarding and EDD/KYC refresh to alert management, SAR drafting, and chargeback resolution, Firstsource delivers modular, regulatory-aligned services to global retail banks, fintechs, and financial institutions.
AI-first compliance innovation
Leveraging GenAI and automation, Firstsource drives accurate compliance through real-time alert triage, perpetual KYC, and smart fraud detection. Tools like AI Coach and the FCC Academy upskill analysts, embedding continuous learning into scalable, future-ready FCC delivery.
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,” said Dheeraj Maken, Practice Director, Everest Group. “Firstsource has invested in modular AI tools such as 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.