The Philippines has become a leading destination for fintech support outsourcing. The country offers a large pool of English-speaking, highly educated workers, an in-depth understanding of the fintech industry, and cost-effectiveness, making it the ideal option for companies looking to expand their front- and back-office operations.
“Companies such as Binance have recognized these benefits and have begun outsourcing various support functions to the Philippines,” says Ralf Ellspermann, CEO of PITON-Global and one of the country’s leading experts on fintech outsourcing.
The Philippines has been quick to embrace advanced technologies, including AI and blockchain, enhancing its capabilities in the financial services sector. These technologies allow for automation of processes, improved efficiency, and increased data security, and they are the foundation for cybercurrency operations. The technology, in turn, leads to better decision-making and improved customer experience.
Ellspermann continues, “The Philippines has a unique combination of people, processes, and high-tech that make it an ideal destination for fintech support outsourcing. The country’s skilled and experienced workforce, sophisticated technology, and cost-effectiveness relative to many other countries make it the perfect provider of high-quality and efficient support to fintech companies."
Experts like Ellspermann are not the only ones touting the Philippines’ strengths as a leading outsourcing destination. Top management consulting firms including Deloitte and Frost & Sullivan have noted the industry’s phenomenal growth over the past two decades and forecast more of the same.
In addition to the benefits already mentioned, the Southeast Asian BPO powerhouse also offers uninterrupted support for companies outsourcing their operations. Many digital disruptors and innovators have a global customer base, and round-the-clock support is crucial to provide a seamless experience. Companies in North America and Europe can be confident their customers’ inquiries and issues are addressed promptly by their Filipino teams, 365 days a year.
“Industry-leading BPOs have also implemented strict security standards and protocols such as PCI DSS to protect client data, giving companies peace of mind that their sensitive information is secure. This is especially important in the fintech industry, where data security is paramount,” explains Ellspermann.
The Philippines offers a cost-effective outsourcing solution for fintech companies while maintaining rigorous standards of quality. The combination of a skilled and experienced workforce, advanced technology, and understanding of the fintech sector make the country the top contender for outsourcing. The world’s leading digital innovators have already recognized this, and the Philippine BPO industry is poised to continue revolutionizing fintech support in the coming years.