Dutch financial services company ING has opened its own “captive” business process outsourcing (BPO) hub in Manila that would deliver back-office to its subsidiaries in the Asia Pacific region.
ING is the latest international financial giant to open an in-house “shared-services” facility in Manila, after UK-based HSBC and American bank JP Morgan Chase.
“Manila will be a strong addition to ING’s shared services hub in Asia, including that in Singapore and the soon-to-be-established IT hub in Pune, India,” ING Commercial Banking Asia CEO Mark Newman said.
The new facility handles lending, reconciliation and payments processing, and static data management to support ING Bank’s eight commercial banking branches in Asia—in the Philippines, Singapore, Hong Kong, China, Taiwan, South Korea, Japan and Malaysia.
The move is part of ING’s global strategy to deliver greater efficiency and higher quality of service to clients in the region.
Claudio Quadarella, vice president at ING Commercial Banking Asia, was named CEO of ING Global Services and Operations Inc. (GSO) office in Manila, a wholly-owned subsidiary of ING Bank NV.
The hub will initially have 30 employees holding office beside the office of the ING Manila Branch in Makati City, but will move to new and bigger premises next year. Paolo G. Montecillo