### **Overview** Firstsource Solutions Limited is a global provider of transformative business process management (BPM) and digital services, part of the RP-Sanjiv Goenka Group. Publicly listed on the NSE (FSL) and BSE (532809), the company operates in 10–11 countries—**United States, United Kingdom, India, Philippines, Mexico, Romania, Turkey, Trinidad & Tobago, South Africa, and Australia**—and serves over **500 clients globally**, including **17 Fortune 500 and 9 FTSE 100 companies**. With a workforce of over **27,900 professionals**, Firstsource delivers domain-specialized, technology-integrated solutions across four key verticals: - **Healthcare** - **Banking and Financial Services (BFS)** - **Communications, Media & Technology (CMT)** - **Retail, Utilities, and Diversified Industries** The company has evolved from a traditional BPO provider into a **technology-led transformation partner**, repositioning itself at the forefront of the AI-driven BPM revolution. --- ### **Strategic Vision: UnBPO™ – Reimagining Outsourcing** Firstsource has introduced **UnBPO™**, a proprietary, outcome-driven service model that redefines traditional business process outsourcing by integrating: - **Domain expertise** - **Advanced technology, AI, and analytics** - **Modular platforms and automation** - **Flexible talent orchestration (full-time, gig, and AI agents)** UnBPO™ shifts value creation from labor arbitrage to **technology arbitrage**, enabling faster innovation, scalable solutions, and measurable business outcomes. It supports **"services as software"** delivery under non-linear commercial models, targeting a $1.5 trillion total addressable market (TAM), according to HFS Research. The model emphasizes **speed, intelligence, and transformation**, enabling clients to modernize operating models, reduce costs, and enhance customer experience across verticals such as mortgage, healthcare claims, and financial crime compliance. --- ### **Core Differentiators** 1. **AI-First Innovation with relAI™ and Agentic AI Studio** - **relAI™** is Firstsource’s proprietary suite of AI-driven platforms launched in FY25, designed for **responsible, ethical digital transformation**. - It embeds **generative AI (GenAI), discriminative AI, and Agentic AI** into core workflows to improve decision-making, predictive insights, and automation across industries. - The **Agentic AI Studio** (launched Q4FY25) deconstructs complex processes into AI-powered micro-tasks, enabling customizable, scalable automation for clients. - Proprietary **domain-specific large language models (LLMs)** have been developed for: - **U.S. mortgage industry**, trained on industry data to streamline full lifecycle processes - **Healthcare**, enhancing claims adjudication and member engagement - Over **100 pre-built GenAI solutions** developed; **25+ intellectual properties (IPs)** and tools owned. 2. **AI-Enabled Workforce Transformation** - Over **2,000 certified AI professionals** - **AI Coach** program improved agent speed to competency by **25%** - **Any Time Recruitment (ATR)** model uses agentic AI for autonomous, continuous hiring - **Hireefirst**, an AI resume parsing tool, achieved **70% efficiency gain** in UK recruitment 3. **Proprietary Platforms and Capabilities** - **Digital Intake Platform**: Processed over **500 million claim documents** with **30%+ improvement in content extraction** and **40%+ reduction in cycle time** - **AI-powered Debt Collections Platform**: - **20–25% lower cost to collect** - **20%+ improvement in recovery rates** via hyper-personalized, empathetic communication - Deployed for clients in credit, auto, FinTech, and utilities - **Mortgage Workflow Platform**: Reduced processing costs by **50%** - **HealthTech Platform**: Improved claims processing efficiency and reduced cycle time by **>40%** - **Firstsource relAI™ Platforms**: Deliver AI copilots for healthcare claims, mortgage underwriting, and financial crime detection 4. **Technology Partnerships and Ecosystem** - **50+ strategic partnerships** with hyperscalers (e.g., **Microsoft Azure, OpenAI**), AI startups, and technology providers - Co-created a **BPaaS solution** with a U.S. health plan involving **8+ vendors** and $50M+ ACV - Partnership with **GuideHealth** to offer **value-based care solutions** combining AI, clinical expertise, and automation 5. **Global Delivery and Innovation Centers** - **8 global delivery centers**, including: - **AI Center of Excellence for mortgage processing** - **AI Innovation Lab in Melbourne, Australia** - **Global Capability Centers in Hyderabad (EdTech) and Makati (Philippines)** - **Nearshore and offshore delivery footprint** across North America, Europe, and APAC - Supports **AI-led, language-diverse operations in 11+ languages** --- ### **Key Vertical Highlights** #### **1. Healthcare (Leading Sector)** - **30% YoY growth in FY25**, driven by payer and provider segments - Serves **12 of the top 15 U.S. health plans** and **over 300 U.S. health systems** - **One of the largest annual contract wins in company history**: $50M+ ACV, 5-year BPaaS deal with a North American mid-market health plan - Offerings include: - **Claims-as-a-Service** using Agentic AI copilots - **Digital Intake, Telehealth, Medicaid Redetermination** - **Revenue Cycle Management (RCM)** with AI-driven denial management - Acquired **QBSS and Quintessence** to strengthen technology-led RCM offerings - Recognized by **Everest Group** as a leader in **Healthcare Payer Operations** #### **2. Banking & Financial Services (BFS)** - Accounts for **~34% of revenue** (FY25) - Serves **5 of the top 15 U.S. mortgage lenders/servicers**, 6 of the top 10 U.S. credit card issuers, and major U.S. and UK banks - Launched a **mortgage-specific LLM** and AI-powered solutions for: - **Loan origination, servicing, HELOC, and default management** - **Faster pre-qualification and processing** - Acquired **Pastdue Credit Solutions (UK)** to expand digital collections in the **£2B UK market** - Recognized by **Everest Group** as **Major Contender and Star Performer** in **Financial Crime Compliance (FCC)** - AI-enabled FCC solutions reduce **false positives, improve investigation speed, and enable scalable compliance** #### **3. Communications, Media & Technology (CMT)** - **16% YoY growth (constant currency)** in FY25 - Clients include top **U.S. telecom, media, and consumer tech firms** - Won its **largest-ever CX deal** with a U.S. fintech leader - Provides **AI model training services** for **4 of the top 5 U.S. consumer tech companies** - **GenAI support** for content moderation, data annotation, and validation - Launched **Gigsourcing Platform** and **Agentic AI Studio** to transform work orchestration #### **4. Retail and Utilities** - Strengthened via **Ascensos acquisition** (2024), adding: - Major **UK retail brands** to client portfolio - **Nearshore delivery** in Romania, South Africa, and Trinidad & Tobago - **11-language support** and omnichannel CX - In **Utilities**, supports UK energy providers with: - Smart meter health - Crisis management - Debt collection and complex complaint resolution - **Won a $200M TCV deal** with a major UK energy supplier --- ### **Recent Strategic Moves (FY25–FY26)** | Initiative | Impact | |---------|--------| | **Acquisitions** | - **Ascensos**: Expanded retail, nearshore, and multilingual capabilities<br>- **QBSS/Quintessence**: Strengthened AI-powered RCM<br>- **AccunAI**: Enhanced GenAI application development for tech clients<br>- **Pastdue Credit (Pending)**: Entry into UK debt collections | | **Large Deal Wins (FY25)** | - **14+ large deals** (ACV >$5M), including **4 exceeding $10M**<br>- Record-breaking **ACV intake** and **$1B annualized revenue run-rate** achieved | | **Client Growth (FY25)** | - **43 new client logos**, up from 41 in FY24<br>- **17 new clients added in Q1 FY26**—highest in 3 years<br>- Expanded into **Australia, ANZ, and CMT/BFS fintech segments** | | **New Market Entries** | - Launched **Australia & New Zealand (ANZ) operations**<br>- Secured major telco and health insurer clients<br>- Won first SaaS and freight platform contracts in ANZ | --- ### **Leadership and Culture** - **OneFirstsource Strategy**: Launched in FY24 to unify operations, enhance cross-selling, and speed up market response - **"UnBPO Mindset™"**: Embeds AI, task-level orchestration, and dynamic talent models across all operations - **Focus on talent agility**: Combines full-time workers, gig talent, and AI agents via the **Gigsourcing Platform** - **Culture of innovation**: 50+ proof-of-concepts in AI executed in FY24; multiple platforms moved to production --- ### **Recognition and Industry Leadership** - **Everest Group**: Major Contender in FCC, Healthcare Payer Ops, and RCM - **NelsonHall**: Leader in Mortgage & Loan Services (NEAT 2022, 2023) - **ISG Provider Lens**: Leader in Contact Center CX - **KLAS® Rankings**: #1 in Eligibility & Enrollment Services (2022) ---