Fifty percent of respondents do not expect outsourcing and off-shoring to rise in the future. Nevertheless, these figures represent a significant decrease from our previous findings in 2011 where 80 percent of respondents did not believe either of these would be growing trends.
Ten percent of respondents in 2011 stated that they outsourced and/or off-shored some of their AML functions. However, by 2014, 31 percent of respondents have outsourced some of their AML functions; the most common function to be outsourced is account opening. This is not surprising as this function is process driven and can be fairly labor intensive.