Many banks begin to outsource their back office when the workload is no longer bearable for the in-house team. Back office outsourcing in the banking industry is aimed to provide solid post-trade processing mechanism. The assistance of outsourcing service also makes it easier for the banks operating various countries to reduce their post-trade processing costs, quickly launch new products and adapt to new regulations.
Many experienced bankers have long been convinced about the advantages of obtaining back office outsourcing services for non-core banking activities, such as administration and IT. Many banks have also extended agreements with custodians to get numerous back office products.
Following the wave of new regulations and financial crisis that hit the banking market, banks tend to focus more on lowering costs associated with running any non-essential core parts of their business. However, some bankers have been less convinced, which result in ever-increasing business costs and inefficiency.
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