Financial MNC Expands Back Office in the Philippines

ING Bank, a multinational financial company, will expand its back office operations in the Philippines to serve a growing number of clients in Asia and Europe. The Amsterdam-based financial services group aims to double its current staff in the country by the end of 2016, according to ING Global Services and Operations Inc (GSO) president and chief executive officer Nigel Smith.

ING GSO began by offering lending, payment processing, reconciliation, and static data management services to its clients in eight Asian countries, including the Philippines. In the following months, ING included processing services from Amsterdam and trade finance services processing from Singapore.

ING commercial banking in Asia chief executive Mark Newman said ING GSO is crucial in providing high quality and efficient services to ING clients across time zones.

The ING exec added that ING Bank has been in the country for almost a quarter of a century now. The decision to choose the Philippines as a key location for their shared services and processing hub is another vote of confidence. 

“We are positive that the country’s business-friendly policies, infrastructure and the pool of Filipino professionals will make ING GSO a significant contributor to the bank’s operational excellence,” Newman said.

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