Will new regulation curb outsourcing/offshoring by banks?

By: Brian Smith, Partner and Managing Director, Financial Services

The Administration has proposed a set of new rules to increase regulation of the banking industry. While we don't know what the final outcome will look like, we do know that changes will be focused on lending, bank structure, and the separation of investment banking from retail banking. None of these changes will minimize the need to reduce expenses.

In the spirit of proposed changes, banks are already taking a hard look at their businesses and looking to redefine what is core as a recent article from American Banker explains. The key for companies will be to find the right outsourcing partner to help them address whatever regulations do emerge. We believe that banks of all sizes will look to both domestic and offshore outsourcing solutions such as Knowledge Processing Outsourcing (KPO) to help them deal with new reporting requirements.

Essentially banks will further lean on sourcing solutions to manage these changes and keep their expenses in line.

Comments

[call center philippines]

Outsourcing solutions are now used by banks to manage some business changes and keep their expenses in line. Thanks for the blog. Great post.

[contact center philippines]

“You can improve what you can measure”- I will try to memorize this one and apply it in real life. Interesting point. Thanks for all the tips. This will surely help on the further improvement of a contact center.

[philippine call center]

Finding the right outsourcing partner to help them address whatever regulations do emerge and is passionate about the company's success is one of the key for the success of the company.

[suvarna]

Nice Blog!!!
Thanks for Great Information.