Bank-Ing On Philippines

November 12th 2014 - Wednesday

Dutch financial giant ING reportedly planning to make the Philippines its premier business processing hub in Asia.

ING has unveiled a rapid expansion program that seeks to harness the country’s vast pool of young, educated and English-speaking workforce. ING Global Services and Operations Inc., a wholly owned ING subsidiary that handles in-house processing for the bank’s growing commercial banking business in Asia and Europe, has set up shop in a 35,000sqm office tower in Bonifacio Global City, Manila with a capacity to employ 420 people.

“The BPO sector is now the largest private sector job generator with more than one million employees. ING GSO’s expansion in the country is a sign of sustained activities and interest in the BPO sector,” Philippine Economic Zone Authority director general Lilia B. de Lima.

The group already has BPO operations in India handled by a third-party provider. Globally, ING has about 40 shared services hub. ING GSO now employs 125 people in the Philippines and this is expected to double to 250 by 2015, according to Nigel Smith, president and CEO of ING GSO.