LONDON: A senior executive of major British bank Lloyds TSB has infuriated unions further by stating that the transfer of processing and call centre work to India was an inescapable fact.

Moreover, he said all services provided by banks might eventually be moved abroad.

Although it is expected that only low-value, routine work will be moved to low-cost economies, Simon Furnell, customer services director of Lloyds TSB Insurance, said: “You can’t discount off-shoring in any possible process.” ( Would the BPO backlash affect outsourcing from the UK as well?)

The remarks by a specialist caused fresh concern to around 4,000 employees at Lloyds TSB’s Scottish Widows subsidiary in Edinburgh, who learned this month that the life and pensions business would complete a trial project in India next year.

Speaking on the sidelines of the annual Call Centre Association convention in Edinburgh, Furnell suggested financial services companies might look to transfer as much as 40 per cent of their service provision offshore.

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