APAC-BFSI-Outlook-2017

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Outlook
At a time of slowing global growth in the banking and financial services
sector, o¥shore units may gain greater prominence. While the Philippines
has emerged as a strong competitor to India over the last few years in the
“voice” business, India will likely reap benefits from o¥ering specialized
services, as well as from strong domestic demand. Given India’s large
population base and commercial oŸce stock, the potential for
businesses to scale up in the country in response to growing global
demand is likely to be higher.
Overall, India’s cost di¥erentials and ability to boost the ease
of doing business² and reduce infrastructure bottlenecks will
dictate the growth of its o¥shore centers. On the other hand,
the growth of the Philippines and its ability to move up the
value chain to o¥er specialized services of higher value
and critical to the core operations of clients, will boost
the country’s IT-BPM market. Going forward, it will be
imperative for companies o¥shoring in both countries
to also place more emphasis on the customer
experience and make analytics an integral part of
their model.
² A high ranking for ease of doing
business means the regulatory
environment is more conducive to
the establishment and operation of
local firms. In the World Bank’s Doing
Business 2016 report, India moved
up 12 places to rank 130
SIDDHART GOEL
Senior Director
Research Services, India
T:+91 80 4046 5506
VAISHNAVI BALA
Manager
Research Services, India
T:+91 22 6771 5555
JANLO DE LOS REYES
Senior Manager
Research & Consultancy, Philippines
T: +63 2 554 29 27
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