{"id":4650,"date":"2008-10-30T09:58:00","date_gmt":"2008-10-30T09:58:00","guid":{"rendered":"http:\/\/localhost\/projects\/horsesforsources\/why-not-build-a-shared-services-infrastructure-to-support-the-banking-sector\/"},"modified":"2008-10-30T09:58:00","modified_gmt":"2008-10-30T09:58:00","slug":"why-not-build-a-shared-services-infrastructure-to-support-the-banking-sector","status":"publish","type":"post","link":"https:\/\/www.horsesforsources.com\/why-not-build-a-shared-services-infrastructure-to-support-the-banking-sector\/","title":{"rendered":"Why not build a shared services infrastructure to support the banking sector?"},"content":{"rendered":"<p><img decoding=\"async\" alt=\"Wallstreet\" class=\"at-xid-6a00d8356fb76c69e2010535ca6b0f970c \" src=\"http:\/\/www.horsesforsources.com\/images\/6a00d8356fb76c69e2010535ca6b0f970c-320pi.jpg\" style=\"MARGIN: 6px; FLOAT: right\" title=\"Wallstreet\" \/> With the US Treasury yesterday making an initial <a href=\"http:\/\/money.cnn.com\/2008\/10\/29\/news\/economy\/treasury_fund.ap\/index.htm\" target=\"_blank\" rel=\"noopener\">$125 billion stock purchase<\/a> of nine beleaguered financial institutions, it makes me think seriously about how these&#0160;colossal investments also could be&#0160;deployed to&#0160;create new jobs, better technology investments, and more efficient support processes.&#0160; <\/p>\n<p>Our recent survey shows that many financial institutions are ready to grab the <a href=\"http:\/\/www.horsesforsources.com\/2008\/10\/banks-ripe-for-banking-bpo-ao-and-fa-bpo-in-the-near-term.html\">low-hanging fruit<\/a>&#0160;of outsourcing offerings, where they can make quick cost-savings and transition costs are offset by arbitrage.<\/p>\n<p>However, while outsourcing clearly has its benefits, what about the <\/p>\n<p><!-- pagebreak --><br \/>\nsignificant costs of integrating these merging institutions, the systems integration costs, the re-drafting of contracts with suppliers, the divesting of bloated captive operations etc.?<\/p>\n<p>How about investing 1% of that $125 billion in setting up a shared services facility to support banking services in areas such as systems integration, application development, HR services, finance support, customer service,&#0160;global trade processing, compliance support, image processing, risk analytics, mortgage processing, credit checks and so on.&#0160; Each bank could initially be allocated a fixed number of staff, based on business volume, and service providers can take part in a tender process to help set up and support&#0160;the center.&#0160; <\/p>\n<p>This would have the impact of:<\/p>\n<ul>\n<li>\n<p>1) Creating new jobs;<\/p>\n<li>\n<p>2) Saving banks a lot of money in a very tough market;<\/p>\n<li>\n<p>3) Making M&amp;A activity less complex.<\/p>\n<\/li>\n<\/li>\n<\/li>\n<\/ul>\n<p>Guess I&#39;m not the best lobbyist&#8230;I can&#39;t even vote&#8230;but&#0160;I <em>can<\/em> blog -:)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>With the US Treasury yesterday making an initial $125 billion stock purchase of nine beleaguered financial institutions, it makes me&#8230;<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48,50,835,79,81,838,95],"tags":[],"organization":[],"ppma_author":[19],"class_list":["post-4650","post","type-post","status-publish","format-standard","hentry","category-business-process-outsourcing-bpo","category-captives-and-shared-services-strategies","category-f-a","category-hr-outsourcing","category-it-outsourcing-it-services","category-kpo-analytics","category-sourcing-locations"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Why not build a shared services infrastructure to support the banking sector? - Horses 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