Financial sector to outsource at 34% annually

Outsourcing is on the rise in the financial services industry, according to research firm TowerGroup. The researcher estimates that the top 15 global financial services companies will increase their outsourcing of information technology projects from a value of $1.

Outsourcing is on the rise in the financial services industry, according to research firm TowerGroup. The researcher estimates that the top 15 global financial services companies will increase their outsourcing of information technology projects from a value of $1.6 billion this year to $3.89 billion in 2008, an increase of 34% annually.