Aussie bank mulls outsourcing jobs to India
The National Australian Bank (NAB) plans to outsource 100 credit card processing jobs to India.india Updated: Jul 14, 2006 13:36 IST
The National Australian Bank (NAB) has said it plans to outsource 100 credit card processing jobs, with India being a possible destination.
The bank has told its workers that the decision to outsource the jobs has been taken to bring in "greater efficiency."
A pilot programme of the NAB, in which 24 accounting jobs were outsourced to India, has "met and exceeded" the bank's hopes, NAB general manager Peter Cochrane told.
Australia's Finance Sector Union (FSU) said 100 Melbourne credit card processing jobs of the NAB were up for international tender and India was a likely destination for these jobs once the tender process closed.
"If you extrapolate from the crowing that NAB has been doing about the success of their accounts payable business, I think it (India) would be one of the key destinations they would be looking at," FSU spokesman Rod Masson said.
He said local workers were concerned about the bank's decision and warned that incidents like the recent terrorist attacks in Mumbai could disrupt banking business.
"Identity theft and lax data security posed greater threats to customers," the FSU spokesman said.
Australia's 'Big Four' banks -- ANZ, Commonwealth Bank, NAB and Westpac -- already have operations in India or are considering moving work there.
ANZ has led the charge, with about 1100 call centre employees in Bangalore. It also has four staff in a Mumbai branch office.