Aussie bank mulls offshoring to India
Australia's leading bank Westpac said on Monday that it was scrutinising the possibility of outsourcing jobs to India.india Updated: Jun 13, 2006 14:49 IST
Australia's leading bank Westpac said on Monday that it was scrutinising the possibility of outsourcing jobs to India.
Westpac is looking at the advantages of "doing some work in India", Westpac spokesman David Lording said in Melbourne.
"Main area of such offshoring would be the basic administrative processing," the spokesman said adding "We believe the best approach is to do it in reasonably small pieces to ensure that there is no disruption."
However he said no final decision on job transfer has been made till now.
"We have successfully outsourced a number of functions over the last five years including mortgage servicing, cheque processing and data processing," Lording said.
"Any further outsourcing will be a continuation of this process as it needs to be built on using partners that can more efficiently perform operations where we have no comparative advantage," he added.
Westpac would continue to employ more people in customer service areas. Where possible we look to retrain and re-deploy people to other areas of the bank thereby minimising the number of job losses, he said.