Excerpt: By Dennis J. Donovan, originally posted at tradeandindustrydev.com
This article addresses the site selection process for financial services back-office operations. We define back-office as administration and support for revenue-producing business units (often referred to as the front-office). Back-offices are process-intensive functions that typically include:
- Financial transactions processing (e.g., credit card)
- Mortgages (claims and servicing)
- Shared services (if multiple function beyond financial or customer service might be more aptly defined as middle-office)
- Records maintenance
- Insurance claims processing
- Customer service
- Inside sales
- Information technology
- Infrastructure support
- Database management
- Help desk
- Software development centers may or may not be included in a back office (often they will be part of what is referred to as middle office).
This article also briefly examines location activity in the often amorphously defined middle-market segment. Middle-office operations tend to be less routine than their “back-room” counterparts. Middle-office functions include software development, legal, human resources, compliance, risk, asset management and research.
Read the entire article here.