As banks continue to look for ways to lower overhead, a recent Celent report says all of the top 50 banks in the United States are exploring business process outsourcing and in the coming years the billions already spent outsourced will only grow.
In the report, “BPO in Banking: A Review of Strategies and Trends,” Celent identifies banks key driving forces for outsourcing and highlights the types of processes most banks currently outsource.
The study also explains why European banks have been more aggressive at outsourcing initiatives such as payments processes, than US banks.