Big banks, big applications, big outsourcing

Large application outsourcing transactions in the banking sector hit a record five-year high last year, according to a recent report by outsourcing consultancy Everest Group. There were 54 new big application outsourcing projects in the sector with a total contract value of $5.9 billion in 2015—an increase in volume of 45 percent and in value of 25 percent over the previous year.[ Related: How to turbocharge digital transformation ]Financial institutions tend to outsource applications arou