Financial Services
This Center of Excellence (CoE) is being developed by IAOP to address the evolving needs of the financial services sourcing landscape. The sector is undergoing rapid transformation, fueled by digital technologies, globalization, regulatory pressures, and the demand for secure, seamless, and customer-centric experiences.
KEY AREAS INCLUDE
1. Core Banking & Operations
- Transaction Processing: Outsourcing back-office functions such as payments, settlements, reconciliations, and account management.
- Risk & Compliance Operations: Support for anti-money laundering (AML), know-your-customer (KYC), fraud detection, and regulatory reporting.
2. Information Technology & Digital Transformation
- Core Systems Modernization: Outsourcing IT services for legacy system migration, cloud enablement, and core banking platform transformation.
- Cybersecurity & Data Privacy: Services to safeguard sensitive customer and financial data against evolving cyber threats.
- AI, Automation & Analytics: Leveraging robotic process automation (RPA), AI-driven chatbots, and predictive analytics to improve efficiency, decision-making, and customer engagement.
3. Customer Experience & Front-Office Services
- Contact Centers & Omnichannel Support: Managing customer inquiries through phone, chat, mobile, and digital platforms.
- Digital Banking & Fintech Collaboration: Developing, integrating, and maintaining digital apps and fintech partnerships to drive innovation.
4. Investment & Wealth Management Support
- Research & Advisory Services: Outsourced analytics, reporting, and investment research.
- Portfolio Administration: Middle- and back-office functions, including trade processing, fund administration, and performance measurement.
5. Human Capital & Administrative Services
- Talent Acquisition & Training: Recruitment and workforce development for specialized financial skills.
- HR & Payroll Services: Managing compensation, benefits, and employee support functions.
- Vendor & Partner Management: Contracting, performance monitoring, and relationship governance with service providers.
6. Supply Chain & Procurement
- Third-Party Risk Management: Vendor due diligence, monitoring, and compliance oversight.
- Strategic Sourcing: Procurement of technology platforms, IT infrastructure, and specialized financial solutions.
Get involved today! ->
LEADERSHIP TEAM
- Vinny Sanchez, Partner, Global Co-Chair, Technology Transactions and Strategic Sourcing, DLA Piper
- Alpa Inamdar, Transformation Leader, AIG
- Robin Shahani, SVP, Next-Gen Client Experience, FIS
- Megh Desai, Managing Director, KPMG
Driven by IAOP's CEO, Debi Hamill this Center of Excellence seeks active and engaged leaders to help form its foundation and shape its direction.
GET INVOLVED
CLICK HERE to register your interest and a member of the IAOP team will follow up with you.
All IAOP Professional Members may access and actively participate in the CoEs.
Corporate members may take an elevated leadership role and contribute content.
COE MISSION
- Enhance Expertise through Best Practices
- Drive Digital Innovation
- Improve Efficiency and Cost-Effectiveness
- Offer Insights into Regulatory Compliance and Risk Management
- Foster Collaboration and Knowledge Sharing
- Share Strategies for Navigating Global Markets and Leveraging International Talent
Our goal is to enable financial institutions to harness specialized expertise, adopt cutting-edge technologies, and achieve operational excellence. By driving innovation and strengthening resiliency, the CoE helps the industry deliver secure, seamless, and customer-centric financial services that enhance trust and performance across global markets.
TRENDS AND FUTURE OUTLOOK
Financial services outsourcing is increasingly strategic, enabling firms to reduce costs, accelerate digital transformation, and access specialized expertise. The future is shaped by:
- Digital Acceleration: Widespread adoption of AI, blockchain, and cloud technologies to deliver more agile, customer-first solutions.
- Globalization with Local Sensitivity: Leveraging global delivery models while addressing regional compliance, cultural, and customer requirements.
- Regulatory Complexity: Adapting to evolving data privacy, ESG, and financial compliance mandates across jurisdictions.
- Customer-Centric Innovation: Enhancing digital experiences to meet the growing demand for seamless, secure, and personalized banking.
- Resiliency & Risk Management: Ensuring continuity of operations, cybersecurity resilience, and robust governance in increasingly volatile global markets.
This CoE brings together financial services leaders, providers, and advisors to share best practices, shape strategies, and build resilient sourcing models that position the industry for sustainable growth.