ING remains bullish on Philippine BPO sector

Dutch financial giant ING Bank is bullish on the Philippines as a captive offshoring market for global companies despite the headwinds affecting the country’s business process outsourcing (BPO) industry. Hans Sicat, incoming country manager of ING Bank’s Manila Branch, said the institution remains deeply invested in the country’s potential growth, particularly as a market for captive offshoring. The trend for captive shared services centers is to move more knowledge- and skill-based operations to countries where labor is not only available, but also adaptable, he said. The Dutch financial giant, through ING Business Shared Services (IBSS), has established its only shared services hub in Asia in the Philippines.