October 01, 2005
Banking institutions outsource call center jobs outside Britain
According to a research conducted by KPMG, most of the banking institutions in Britain have expressed concern over the movement of call center and data processing jobs to offshore facilities in India. The concerns generally stem from a point of view of security. Customers are worried that the details of their records are being transferred to a customer service center outside Britain.
Some customers were inclined to close their accounts if their records were being handled by service providers outside the country. Several large banking institutions have moved to outsourcing call center jobs to India. Others have, however, remained within Britain for such services. The trade Union Amicus believes that there are hidden costs in outsourcing call center jobs to India, besides being a security risk. NewKerala.com reports:
HSBC and Aviva, Britain's largest insurer, have led the way in the effort to cut costs by moving thousands of call centre jobs to India. Other banks and insurers, such as Lloyds TSB and Prudential, have followed suit. However, some have pledged to keep jobs local, including the Royal Bank of Scotland, Legal & General, Alliance & Leicester and the Cooperative Bank.
Read More: Britain's banking customers concerned over outsourcing
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