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7 out of Top 25 Locations Globally for Setting up Financial Services BPO Are in India, Manila has the Top Spot

The financial services industry globally has undergone prodigious change over the last five years. Many banks have either undergone consolidation, restructuring or have been newly formed. Post-recession, many new regulations have come into place across the globe which has posed excessive pressure on the banking industry. This means the industry has to manage such monumental tasks wherein the size of compliance team is expected to double in the next few years. Additionally, demand for transparency has increased the pressure on small and mid-sized businesses as they require significant investment in addition to skills that are not found in abundance; it’s difficult to hire for them.

Similarly, another area where banks have been investing heavily is fraud detec ...

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