Why Are Middle Office BPO Services Trending At Present

The middle office handles the financial operations and functions that support the front office in multiple areas. It comprises employees, including information technology experts, risk managers, financial controllers, and strategic managers. The middle office is also seen as an extended back-office department that assists with front and back-office functions. The demand for middle office BPO services is rising post-pandemic. 

Market segmentation of Middle office BPO types:

• Banking BPO

Takes care of all banking-related functions and provides domain-centric sourcing strategy for credit unions. 

• Insurance BPO

Whether it is healthcare insurance or travel, the claim processing and management is a tedious staff, handled by outsourced service providers.

• Knowledge Process Outsourcing Services (KPO)

KPO comprises core and highly specialized functions like market research, corporate law, web development, content, and accounting.

Market Segmentation of middle office BPO Services by Industry:

• BFSI

Banking and financial services need dedicated and expert support around the middle office for streamlined operations. Therefore, BPO services come in handy and are a cost-effective option. 

• Education

Student loan collection, fees management, collateral management, and marketing are key responsibility areas of the education sector. The services are outsourced readily. 

• Government

Data confidentiality and compliance are crucial when handling middle office and back office for government entities. A trustworthy, certified BPO company can help. 

• Aerospace & Defense/IT & Telecommunication/Retail & Consumer Goods/Healthcare & Pharmaceuticals

Middle office roles for different sectors, especially B2C companies, need relevant industry experience with high skills. In addition, all the sectors outsource middle office services for improved operations, customer management, and marketing.