Financial Services

Financial services companies are expanding the boundaries of sourcing opportunities beyond traditional IT, back office processes, and call center operations. The five common reasons companies choose to outsource these functions are to:

• Improve company focus
• Reduce operational costs
• Gain access to world class technology or business processes
• Free resources to focus more on core competencies for strategic advantage
• Accelerate benefits of process reengineering

As financial services companies have addressed these needs through traditional Information Technology Outsourcing (ITO or IT Outsourcing) and Business Process Outsourcing (BPO) deals, many are nowconsidering sourcing arrangements for what might be thought of as core financial services and processes including:

• Investment management
• Mortgage processing
• Underwriting and claims payment
• Loan analysis and grading
• Investment Banking support

As companies move into these areas, compliance with national regulatory guidelines and comprehensive risk management processes are important to a successful sourcing relationship.