PA sourcing expert, Mikael Dahlstedt, has been quoted in an article in Computer Sweden discussing how Nordic companies in the financial sector are planning to outsource more.
The article highlights how banks and the public sector are usually the biggest opponents of outsourcing their IT systems. However, findings from the 2016 Nordic IT Outsourcing study, conducted by PA and White Lane Research, reveals 50 per cent of the Nordic companies within the sector plan to outsource more. The research surveyed 300 organisations with over 1,000 outsourcing contracts
Mikael says: “The 50 per cent of financial services organisations planning to increase their outsourcing is actually greater than the average score of all industries (at 46 per cent). However, there are also vendors that offer core banking systems as a service. In the Nordic countries, it is mainly niche banks that have chosen this model. Large banks are beginning to look at buying services and outsourcing is increasingly done on a variety of levels, from business processes down to infrastructure.”
The article also explains how major Nordic banks are now implementing large outsourcing projects. The Norwegian bank DNB, for instance, conducted a major deal with TCS two years ago.
According to Mikael, business services such as Thomson Reuters’ ‘Know your customer’ offering, which ensures banks comply with anti-money laundering regulations, are becoming increasingly popular.