Monday, April 25, 2011

India key hub for global sourcing in the financial services

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New Delhi, Apr 25 (PTI) Global Business Process Outsourcing in the financial services sector has the potential to reach a market size of USD 250 billion, with India playing a key role, says a study by global consulting and research firm Everest Group.

The financial services BPO (FS BPO) sector, is a USD 16-18 billion market comprising nearly 40 per cent of the USD 40 billion global sourcing market.

India, Philippines and China are mature locations for FS BPO, while Eastern Europe, Central America and South America are witnessing the fastest growth, the report, titled, "Role of global sourcing in financial services BPO", said.

"India continues to play a key role in the FS BPO space and offer attractive arbitrage opportunities compared to onshore locations in US, UK, and Europe," Everest Group Partner Vikash Jain said.

Source: PTI