Outsourcing Center, Beth Ellyn Rosenthal, Senior Writer
KeyBank’s corporate customers need letters of credit for global trade. But the bank didn’t want to make the requisite capital investment. So it outsourced that process to ABN-AMRO, another bank. The happy result: the new services offered by the outsourcer helped KeyBank attract new customers.
Outsourcing Center, Kathleen Goolsby, Senior Writer
During the eight-year relationship of Sovereign Bank and its outsourcing service provider, Trammell Crow Company (TCC), the bank grew dramatically from mergers and acquisitions. For TCC, which handles all the bank’s real estate services throughout its financial services market (the northeast and mid-Atlantic states in the US), the growth from 130 properties to more than 600 properties required a high level of flexibility and expertise.
Outsourcing Center, Beth Ellyn Rosenthal, Senior Writer
How do medium-sized banks survive in today’s brave new world? The challenges seem Herculean. The big banks are getting bigger, smaller banks are becoming acquisition candidates, and the Internet is changing how consumers interact with their financial institutions. Outsourcing is one way for banks to cut costs and become more competitive, says Alfred Ricci, of …
Outsourcing Center, Kathleen Goolsby, Senior Writer
Worldwide trends in mitigation of market and operational risks in financial services institutions.
Outsourcing Center, Beth Ellyn Rosenthal, Senior Writer
Intense competition and a weak economy are forcing financial institutions to radically alter the way they do business. A new Deloitte Research study of global leaders discovered 75 percent are outsourcing offshore to save as much as 50 percent. Analyst Chris Gentle details how this trend is developing.
Outsourcing Center, Kathleen Goolsby, Senior Writer
Adequate support for a remote or mobile workforce is a make-or break process and high on CxO-level executives’ agendas these days. Here’s how one of the world’s leading banks solved the problem and ensured a flexible solution.
Outsourcing Center, Kathleen Goolsby, Senior Writer
With competition on all sides, banks have to invest in enabling technologies to stay current. Yet this economy dictates that they cut costs, too. The only way to do both is to outsource.
Outsourcing Center, Kathleen Goolsby, Senior Writer
Facing mountainous bad debts and a failing national economy, Japan’s banking sector and its government seek strategies to save the banks from closure. But Shinsei Bank has already found the path to success. Due to adopting western-style management concepts, and using outsourcing, it entered a new market at one-third the time and one-tenth the cost of its competitors and has profit for moving forward.
Thomas J. Smedinghoff, Partner, and Creighton R. Meland, Jr., Partner, Baker & McKenzie, Chicago, Illinois
In the Bible, Cain insisted he was not responsible for his brother’s actions. That’s not true if you are a financial institution. Banks, savings and loans and credit unions are still responsible for the actions of their service providers. Two attorneys at Baker and McKenzie tell financial institutions how to protect their interests when they outsource.
Outsourcing Center, Beth Ellyn Rosenthal, Senior Writer
Two big banks in England needed to upgrade their check clearing operations. But they didn’t want to invest in the process due to falling volumes. Outsourcing helped them gain access to new technology as well as lower costs.
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