Financial Services BPO and ITO Oppertunities


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Sri Lankan Financial Services Outsourcing sector is growing. The opportunities for finance professionals to move in to knowledge services industry (IT/BPO) is rapidly expanding. This presentation highlights the growth of the global IT/BPO industry and Sri Lanka’s focus on Financial Services Outsourcing sector.

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Financial Services BPO and ITO Oppertunities

  1. 1. January 2010 AAT Sri Lanka Madu Ratnayake SLASSCOM, Virtusa Positioning Sri Lanka as a financial services hub with BPO and ITO
  2. 2. Globalization Globalization 1.0 1492 till 1800 Large to medium countries globalizing, for imperial reasons, for resources. Globalization 2.0 1800 till 2000 Medium to small companies globalizing, for markets and for labor. Globalization 3.0 2000 on wards Small to tiny Individuals globalizing for opportunities.
  3. 3. <ul><li>If work can be digitized, it can be done anywhere in the world </li></ul>
  4. 4. <ul><li>Global IT/BPO Market </li></ul>
  5. 5. Global IT/BPO Market growing steadily BPO - $280b ITO - $568b
  6. 6. IT/BPO Industry revenue is lead globally by BFSI (Banking Financial Services & Insurance)
  7. 7. <ul><li>Where are we today? </li></ul>
  8. 8. Sri Lanka emerging as a global sourcing destination <ul><li>Ranked 16 th in the AT Kearney Global Services Location Index (GSLI) in 2009 (up 13 positions from 29 th in 2007) </li></ul><ul><ul><li>Ranked number 5 in financial attractiveness, ahead of India, China and all of CEE </li></ul></ul>Gartner's 30 Leading Locations for Offshore Services (2010-2011). Included among the Top 9 in Asia pacific. 12th in the top ranking destinations in IBM Global Location Trends Report Ranked among the top 10 emerging global destinations by Global Services Magazine. Sri Lanka is another Asian country that has succeeded in positioning itself as an alternative to India. - IBM Global Location Trends Report 2010 Sri Lankan’s geographical location, infrastructural facilities, direct access to India market, high quality standards of the workforce, open economy and various free trade agreements make it an attractive outsourcing destination. – Global Services Destinations Compendium 2010
  9. 9. <ul><li>5 th Largest export revenue earner for the country </li></ul>
  10. 10. Sri Lanka – High Potential for Growth
  11. 11. <ul><li>Financial Services is putting Sri Lanka on the outsourcing map… </li></ul>
  12. 12. Sri Lanka being recognized as a Global Center of Excellence for Financial Accounting Outsourcing (FAO) Source: Tholons
  13. 13. BFSI - ITO Services companies are growing Banking Financial Services and Insurance (BFSI)
  14. 14. Talent base of Finance Professionals is growing
  15. 15. Vision & Goals <ul><li>Vision - #1 Industry </li></ul><ul><li>IT/BPO Industry to become the #1 revenue earner for Sri Lanka in the next 10 years </li></ul><ul><li>Goals by 2015 </li></ul><ul><li>$1bn Export Revenue </li></ul><ul><li>80,000 direct knowledge based jobs, 240,000 indirect jobs (1:3) </li></ul><ul><li>(320,000 total jobs) </li></ul>
  16. 16. <ul><li>Future Careers are in IT/BPO </li></ul><ul><li> </li></ul>