Investment Banking Operations

Firms like State Street, Northern Trust, etc., outsource some of their tasks to Indian finance BPO/KPO Firms, calling them:
- Investment Banking Operations Firms
- Asset Servicing Firms
- Middle Office, Backoffice Firms

The above 3 terms are often used interchangeably.
(Probably for custodial services I am not sure)

There are various departments in such Indian firms like Loan Syndication, corporate action, Financial Reporting, Fund Accounting, reconciliation, etc.

The Indians have to work night shifts as well in these firms according to the time zone of their onshore. They just do repetitive tasks, nothing creative. Feels kinda like data entry.

Indian firms are often able to provide these services at a lower cost than onshore firms, helping onshore to reduce operational costs and allowing them to focus on core activities while delegating routine tasks to such service providers.

This involves providing support to the front office, such as processing trades, settling trades, and other operational and administrative tasks

So my question is, what exactly are these firms? What would be an ideal description of such companies?

And If an Indian graduate starts his career at such a firm can he transition to M&A eventually?