All of us know that outsourcing can be a double-edged sword. For the outsourcer, it certainly helps cut costs in business processes, but there is also the lurking danger of private data going public. In an older post, we have mentioned how real this concern is among outsourcers.
This concern over data security is particularly serious in the banking sector, where the outsource vendor is literally playing with considerable personal information.
Not surprisingly, the Finance Sector Union (FSU) has inserted advertisements in newspapers all over Australia to emphasize this concern over data safety. The Union is exerting pressure on the banking institutions in Australia to refrain from sending personal information of customers to the country of a service provider. As ABC Newsonline reports:
...[The Union has] put a message out to shareholders saying that they need to send a clear message to their banks to say that nobody likes jobs going offshore, nobody likes personal data going offshore and that the banks need to change their minds.
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