Swiss banks outsource more and more services

The new study of the “Institute of Financial Services Zug (IFZ)” of the University of Lucerne states that Swiss banks outsource more services than ever. The outsourcing volume of Swiss retail banks alone is estimated at CHF 2.2 billion. An estimated CHF 1.75 billion (80%) of this is accounted for by IT services.

The survey results show that only eight percent of the banks participating in the survey do not outsource any services (see figure). In IT and shipping, almost four out of five banks outsource services. Services outsourced are mainly within payment transactions and security (63% and 59%). The study also mentions that the least outsourced services of banks are in accounting, compliance and credit processing.

 

infographics outsourcing study swiss banking
Source: IFZ Outsourcing Study 2019

 

What factors influence mainly the choice of an outsourcing partner? Well, firstly according to IFZ it is the price/performance ratio. Furthermore, securing and supplementing know-how is of great importance. And last but not least, the study makes it visible that the banks also attach importance to additional service elements offering added value. For example, they consider the existence of detailed and precise service level agreements (SLAs) with a sufficient number of measuring points and direct access to clerks and specialists of the sourcing partner to be particularly relevant.

Forecasts of the IFZ study say that the market will further grow. Services will also improve. Especially in the areas of IT, securities and credit processing, the banks themselves expect additional outsourcing of additional functions.

Source: https://blog.hslu.ch/retailbanking/2019/05/08/ifz-sourcing-studie-2019-schweizer-banken-lagern-immer-mehr-dienstleistungen-aus/ 

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