Failing to fully meet the regulation can be the difference between success and failure for ruthlessly competitive financial sector. Regulatory compliance is being enforced more strictly than ever before as regulators seek to minimize risks to both customer and stakeholder funds and assets. This tougher regulatory environment has called for ring-fencing of individual departments and strict separation of certain processes and services.
Back-office outsourcing businesses can offer banks improved robustness and resilience in this area of operational exposure. The benefit of taking on back-office services from an outsourcing vendor is that it is easier for banks to prove that the department and its relevant processes have been separated as required by new regulation.
In addition, the burden of data security, integrity and transparency can be shared with expert back-office outsourcing companies that are specialized in handling these matters.
Telegenisys is one of the leading providers of Business Process Outsourcing (BPO) services, offering a wide range of back office services, customer care & support and telemarketing outsourcing solutions to our clients worldwide. Know more
In most cases, when insurance business process outsourcing plans are being finalized, businesses usually face resistance from organizational members. And that’s not all that surprising because the general perception surrounding insurance process outsourcing is that it is nothing more than an effective downsizing utility. It appears that a few businesses in the…
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