Boston, MA -- (SBWIRE) -- 08/05/2013 -- Cards make up one of the most outsourced business operations in the financial services sector. Indeed, a large numbers of banks and card issuers have either outsourced specific functions or their entire their card operations. The primary factors driving such practice have been largely similar to those recorded in the outsourcing sector in general, and include cost reduction, gaining a comparative advantage, access to cheap/skilled labor, a lack of in-house expertise and risk management advantages. Card outsourcing is fast-moving towards the adoption of cloud technology and onshore and nearshore models, driven primarily by cost advantage and government initiatives such as tax benefits. In addition, there is an increased focus on value added services such as behavior analysis and fraud prevention schemes.

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Key Highlights

- Cards make up one of the most outsourced business operations in the financial services sector. A large numbers of banks and card issuers have either outsourced specific functions or their entire their card operations.
- The primary factors driving card outsourcing have been largely similar to those recorded in the outsourcing sector in general, and include cost reduction, gaining a comparative advantage, access to cheap/skilled labor, a lack of in-house expertise and risk management advantages.
- Card outsourcing is fast-moving towards the adoption of cloud technology and onshore and nearshore models, driven primarily by cost advantage and government initiatives such as tax benefits respectively. In addition, there is an increased focus on value added services such as behavior analysis and fraud prevention schemes.
- Card issuers remain responsible for their business actions, even though the vendor is given the authority to act on their behalf. Outsourced operations must be monitored closely to ensure adherence to a contractual agreement.
- One of the best ways of judging the perceived quality of performance is communicating with those firms already doing business with the vendor. Card issuers can also engage in market research and take advice from professional advisors.

Scope

- This report provides a comprehensive analysis of the key outsourcing activities in the card industry across the globe
- It provides insights on various outsourcing models used by card issuers and their risk exposures
- It provides analysis on the attractiveness and level of various card outsourcing activities in key offshore locations
- It outlines the emerging trends in card outsourcing
- It details the key best practices in vendor management with case examples
- It explains the potential scope of outsourcing of key business operations associated with cards along with best practice case examples

Reasons to Get This Report

- Make card outsourcing work for you
- Learn from best practice and read case studies

Companies Mentioned in this Report: Citibank, Barclays, Bank of America, Chase Bank, Genpact, TCS, Cognizant, Infosys, WNS, Vantiv, CyberSource, Wells Fargo, Intesa Sanpaolo Card, Capital One, American Express, HDFC, ICICI, HEW Federal Credit Union, Reliance Bank, Fiserv, Bank of India, Swisscard AECS AG, Acquirer Systems, Firstsource, Banco Santander, CallCredit, Public Service Credit Union, TSYS, First Data, FIS, Krung Thai Card, Cold Stone Creamery, American State Bank, Golden Plains Credit Union

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