Banking and 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:
CASE STUDY ONE
CONNECTING THE BRANCHES
Connectivity between multiple branches in multiple states, internet connectivity, voice and storage.
Using an MPLS solution with different classes of service, Datamob created an environment whereby the customer could push data, access the internet and run their VOIP solution all with one service. With limited fiber options in some locations, we sourced a wireless IP provider as the backup to provide diversity. We negotiated colocation deals for three data centers, two on separate power grids and a disaster recovery site in a hazard free zone.
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 now considering sourcing arrangements for what might be thought of as core financial services and processes including:
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.