Driving growth through Business Process Outsourcing (BPO)
BPO is not limited only to back office perimeter anymore but outsourcing also reaches the front office.
Financial institutions (FIs) have long considered Business Process Outsourcing (BPO) as an instrument for improved cost efficiency. The market has reached maturity and best practices established over time by vendors and advisors have increased the success rate of BPO relationships.
Some domains of the financial industry such as investment management and asset management have already opted for outsourcing certain processes and nowadays include it as part of their business models. However, other industries such as private banking and retail banking are not yet versed in outsourcing. It may be that outsourcing could provide the solution for banks’ evolution in their highly competitive climate.
Moreover, BPO does not only offer a greater cost efficiency. As market conditions and technologies have evolved, outsourcing has followed suit to offer new adapted solutions, answering many challenges faced by banking industry actors. From increasing the level of digitalization to offering new value-adding services, how can your organization drive growth through outsourcing?
Inside magazine issue 18, June 2018
Inside is Deloitte’s quarterly magazine offering an exclusive insight into best practices, trends and opportunities faced by our clients across all industries.
Inside focuses on the main hot topics relevant for the market (Asset management, Banking, Insurance, Public sector, Healthcare, Private equity, Real estate, TMT, Manufacturing and consumer business, Transport and logistics).