When Bank of Hawaii recently upgraded its online bill-paying service, customers made suggestions about how to improve the interface.
But, because the bank outsources its online services, it’s an ongoing process to incorporate those changes.
Most banks, both in Hawaii and on the Mainland, have been outsourcing back-office functions such as credit card processing for years, according to Gary Fujitani, executive director and executive vice president of the Hawaii Bankers Association.
Outsourcing has become even more prevalent with online banking and bill-pay services because it allows financial institutions to stay competitive and innovative as technology changes.
Source:http://www.bizjournals.com/pacific/print-edition/2010/12/24/outsourcing-helps-banks-save-money-and.html
