Financial service outsourcing is to help financial companies do some low-level but necessary things, such as entry, voice, and voucher sorting. Financial companies can do it themselves. It requires space, people and equipment, which is a bit outweighing the gains. Therefore, companies specializing in financial service outsourcing have emerged. There are specialties in the technical industry. In this way, other people can make money, and financial companies can also reduce costs.

Financial service outsourcing refers to the continuous use of outsourcing service providers by financial enterprises (which can be affiliated entities within the group or entities outside the group) to complete business activities that were previously undertaken by themselves. Outsourcing can be the transfer of a certain business (or part of the business) from a financial enterprise to a service provider, or the further transfer by the service provider to another service provider (i.e., "subcontracting").

Financial outsourcing began in Europe and the United States in the 1970s. In order to save costs, financial institutions in the securities industry outsourced some quasi-transactional services (such as printing and storing records, etc.). By the 1990s, driven by cost factors and technology upgrades, financial outsourcing was mainly concentrated in the IT field, involving the entire IT industry. According to statistics, 45% of the entire IT industry's expenditures in 2005 were outsourcing expenditures.

Reference material Financial services outsourcing - Baidu Encyclopedia