The Financial Services Authority (FSA) has given offshore outsourcing in India a clean bill of health after investigating concerns about the safety of customer data. The UK’s main City regulator visited 10 outsourcing operations in India to study their operations. Most of these provided services to UK retail banks and insurance companies. After investigating the governance and data control systems in place for the operations visited, the FSA said offshore outsourcing posed no greater risk to customer data than in-house operations.
Ted Balaker is an award-winning filmmaker, journalist, and founding partner of Korchula Productions, a film and new media production company devoted to making important ideas entertaining.