India's outsourcing industry has the potential to process up to 30 percent of banking transactions in the United States by 2010, but tightening data security is key to realizing that aim, a trade body said Tuesday. Currently, outsourcing centers in India process about 8 percent of U.S. banking transactions, as financial institutions have increasingly shifted back office work and other software-related jobs to India, where wages are low.
September 27, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
India’s outsourcing industry has the potential to process up to 30 percent of banking transactions in the United States by 2010, but tightening data security is key to realizing that aim, a trade body said Tuesday.
Currently, outsourcing centers in India process about 8 percent of U.S. banking transactions, as financial institutions have increasingly shifted back office work and other software-related jobs to India, where wages are low.
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