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Bank Outsourcing

 What is the core   business of a bank? Managing your money  safely? That is what banks realized. They are good at that  and let others handle what they are good at. Initially when the  banks started automating, they used to have their own Electronic Data Processing centre ( EDP)  and a few staff to manage the systems, data  etc. As technology improved, all the transactions in the banks are computerized.  Now the trend is to out source the entire IT  management to a big company.

  Many banks introduced credit cards and debit cards. Managing these accounts calls for a greater infrastructure. Hence this area is  outsourced where in a company signed as partner  take care of handling queries, printouts, posting the letters etc.

One shall not be surprised to see the Automated Teller Machines are franchised to a third party vendor.

   Areas :

1.      IT/Software

2.      Acquiring clients

3.      Loan sanctions and management

4.      Debt  collection

5.      credit card management

6.      ATM management