Offshoring of Business Processes by Banks from Switzerland

Inhaltsangabe:Introduction:The global banking sector is currently undergoing fundamental changes. Banks face new challenges created by socio-economic and political developments and the potential of new information and communication technologies. Competition has risen to formerly unknown levels and active management of costs has become an ongoing tasks. Unlike the manufacturing industries most banks still cover large parts of their value chain by themselves. Lead by Anglo-Saxon institutes global banks have started in recent years to use the advantages of globalization by splitting up their value chains and by offshoring selected functions to countries offering wage differentials. According to experts banks have just started to create their global sourcing model, so that the offshoring volume is projected to increase further. While most banks have started their offshoring initiatives with IT functions, business process offshoring and even knowledge process offshoring have now become the main drivers of the move to the key offshoring locations like India, China and Eastern Europe. Banks from Switzerland have been spectators to the global move towards a global delivery model for many years. Only its two large global banks - UBS and Credit Suisse - have started offshoring initiatives yet trying to catch up with their global competitors. They face challenges especially from the legal and regulatory side, which are specific to offshoring from Switzerland, and have to balance cost discipline with keeping the high standards in quality, security and confidentiality, which are the base for the high reputation of the Swiss banking market.Inhaltsverzeichnis:Table of Contents:1.Introduction51.1Current Situation51.2Objective51.3Structure of Analysis62.Business Process Offshoring92.1Definition of relevant terms92.2Organizational options102.3Main offshoring locations133.Offshoring by banks173.1Drivers for market growth in business process offshoring173.2Benefits183.2.1Cost savings183.2.2Access to new talent pools203.2.3Market access203.2.4Process optimization213.2.5Further benefits213.3Risks213.4Potential business processes for offshoring233.4.1Criteria for selecting processes233.4.2Processes offshored by banks243.5Strategic options for banks254.Specific challenges for offshoring banking processes from Switzerland284.1Legal restrictions to offshoring from Switzerland284.2Regulatory restrictions to offshoring […]