Awards and Recognitions

Persistent recognized as a Leader in Everest Group’s Payments IT Services PEAK Matrix® 2023

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Payments Landscape in 2023 – Findings from the report that shaped the assessment

The payments landscape is changing rapidly. Consumers have more options than ever before, primarily because of the unprecedented rise of FinTechs, PayTechs, and Neo Banks bringing in faster, innovative, and convenient ways to transact. The acceleration in digital payments and the demand for seamless instant payments are giving rise to the adoption of real-time payment systems. New regulations and standards such as ISO 20022 are paving the way for faster and more efficient payments. These new data standards are opening multiple data monetization opportunities.

In response to this demand, financial institutions are modernizing their payment infrastructure, incorporating new payment methods, introducing digital currencies, and seizing monetization opportunities. Providers that possess techno-functional expertise, focus on costs, and user experience-driven innovations are better positioned to capitalize on the growing demand.

Persistent Systems has been named a Leader in the Everest Group’s Payments IT Services PEAK Matrix® 2023 among 30 leading Banking and Financial Services (BFS) IT Services and Technology providers evaluated.

Payments IT Services PEAK Matrix® Assessment 2023
Everest Group’s Assessment of Persistent as a Leader – Key Strengths
  • Industry contextualization of IP with offerings such as smart contract engine, intelligent interface for fraud prevention, and API integrations for tokenization and encryption are growth drivers behind Persistent Systems’ industry-leading revenue growth.
  • Steady momentum in developing a suite of partnerships with leading technology providers, hyperscalers, and FinTechs has helped Persistent Systems offer a broad scope of services and end-to-end product delivery.
  • Clients have appreciated Persistent Systems’ domain expertise across platforms, services, application development, and servicing of product companies.
  • Persistent has showcased the appetite to grow capabilities inorganically through the strategic acquisitions of SCI & Fusion360 (Payments solutions consulting), Capiot(data integration specialist), and XCRO(Payments platform) and investing in value additions such as sandbox environments for increased customer confidence.
Targeted investments into multiple acquisitions, development of accelerators, and talent have supported in bolstering Persistent Systems’ payments capabilities and growth. Focused messaging to bake-in industry context as well as strong recognition by clients on domain expertise and application development have helped Persistent Systems to earn a Leader recognition on Everest Group’s Payments IT Services PEAK Matrix® Assessment 2023.

Our Payments Offerings and Solutions

We bring over 30 years of experience across the payments landscape from Payment Platform providers to financial institutions and banks as a digital partner of choice for application development, maintenance, and support of Payment platforms. We have proven expertise in IBM’s Financial Transaction Manager (FTM), SWIFT Transformation, Digital Wallets, P2P payments, & digital currency (CBDC).

Payments Advisory Services

Operational and technical expertise focused exclusively on the payment systems and informed by extensive domain knowledge and real word experience.

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Payments Modernization

Transform your existing payment systems to leverage the benefits of cloud based technologies and ensure continued compliance in an evolving marketplace.

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Payments Platform Development

Accelerate your payment platform development by tapping our extensive digital engineering and payments development experience.

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Payments Managed Services

Simplify the management of your payments systems by having our experts run and manage your payments solutions for your organization.

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