Nearly half (49 per cent) of financial services decision-makers would prefer to use outsourced technology solutions, rather than building teams to develop them in-house, according to new research.

Asset Control commissioned OnePoll to survey 100 senior financial services staff in the US and Europe, finding that outsourcing has gained in popularity in recent years, with 48 per cent saying key benefits included being able to draw on a third party’s industry knowledge.

The same amount (48 per cent) also said that an outsourced technology solution proved to be more cost effective, taking into account set up and operational costs.

By far the biggest consideration when costing an external technology solution was ‘the availability of skills in the market for the approach chosen’ – cited by 49 per cent of respondents.

Martijn Groot, vice president of marketing and strategy at Asset Control, said: “Financial services businesses are often attracted into adopting an outsourced approach by a straightforward drive to cut costs, coupled with a desire to tap into broader industry knowledge and expertise.”

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