Tag: global trade services
Allied Irish Bank Becomes First Financial Institution in Europe to Outsource Global Trade Processing End-to-End | Article
The bank’s software provider announced it would no longer support its banking application. AIB had to determine whether to outsource or purchase a new system. Outsourcing was more expensive until ABN AMRO opened an office in India reducing fees by 60 percent. Outsourcing today does much more than save money.
Facing the need to invest heavily in technology upgrades to remain competitive in full service global trade documentary processing or get out of the business entirely, Key Bank chose instead to outsource to ABN AMRO.
Customs compliance today is daunting. Outsourcing gives importers access to technology that automates and integrates the process.
Global trade operations have increased dramatically in complexity, necessitating knowledge and technical expertise beyond the capabilities of most companies. Here’s what one of the world’s leading companies did to achieve its objectives in this mission-critical function.