Australia’s Suncorp to transfer 250 jobs to Infosys in IndiaNovember 14th, 2007 - 2:30 am ICT by admin
The 270 customer-facing jobs will be relocated out of Suncorp’s back-office operations, which process loan applications and data entry activities.
To fill the back-office gap, the bancassurance company has entered into partnerships with Perpetual and Infosys in an attempt to develop a more efficient and scalable process in parts of the bank’s back office.
By 2011, up to 250 back-office jobs could be transferred to Infosys, which would provide services through a mix of onshore and offshore resources. However, it is understood that most of the jobs transferred to Infosys will be off-shored to India.
Perpetual will oversee some of the loan and data processing onshore.
“We have thought carefully about the activities we should continue to manage, as well as those we believe others can perform more efficiently,” Suncorp chief John Mulcahy said.
“Where it makes sense to purchase some data management and processing services from others, we will do so,” he added.
“In a tight financial services labour market in which it is becoming increasingly difficult to attract and retain skilled staff, it is essential that we retrain and redeploy existing staff to meet growth needs in our customer-facing functions,” Mulcahy said after yesterday’s announcement.
Finance Sector Union policy director Rod Masson said: “We are bitterly disappointed in their decision to want to send jobs offshore.”
The union expects up to 500 Suncorp back-office jobs could be under review.
It is understood Suncorp will open more than 30 branches, most of them in Queensland, in “identified growth corridors” over the next few years.
The branch expansion will be complemented by a mortgage broker push. Suncorp has only about four per cent of the national broker market.
Early this month, Suncorp brought in Satyam Computer Services to build customer analytics software for the bank. (ANI)
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