As press reports continually remind us, outsourcing is an important focus of every large business. Banks are no different.
A 2005 study by Deloitte Touche Tohmatsu found that the majority of global financial services companies (including banks) surveyed have at least one outsourcing contract.[FOOTNOTE 1] Operations outsourced by such companies include customer call centers, information technology-related services, data processing, investment management and back office clearing operations. Some banks also are establishing subsidiaries to provide these services (called “captive outsourcing”) instead of using third-party service providers such as Accenture, OfficeTiger, Infosys or Metavante.
