Classification of Outsourcing Phenomena in Financial Services

Abstract

Financial service companies have developed a wide variety of outsourcing phenomena over the courseof recent years. The goal of this paper is to conceptualize these phenomena to the extent that they canbe specified in descriptive dimensions, thus making it possible to differentiate between differentoutsourcing scenarios. This classification will form the basis for the subsequent development ofscenario-specific methods. Only then will it be possible for companies in the financial services sectorto depart from their previous approach to outsourcing which up to now has largely been individual ifnot intuitive in many cases. Instead, they will be able to systematically analyze which outsourcingscenario applies to them, and adopt methods developed for the respective scenario while drawing onthe experiences of other companies in comparable situations.Based on interviews and the discussion of related work, a four dimensional framework andappropriate scales are proposed. Using references to the outsourced components, outsourcedactivities, service individualization and degree of independence dimensions, respectively,various current outsourcing phenomena are then classified.

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