The Newcastle Building Society has decided against offshoring its back office functions after running a six-month pilot office in Mumbai, India.
The building society manages assets of nearly £4bn and has recently expanded after merging with the Universal Building Society. It also provides back-office administration to Icelandic bank Landsbanki and BMW personal finance savings products.
The Newcastle moved its administrative processing facilities to Mumbai for the trial, which was aimed at finding a way to cope with periods of peak demand. Customer-facing services were not included in the project.
A spokesperson said: “The decision was made that it would be more efficient to have an internal team, based in Newcastle, which would be able to contract and expand [to meet changing demand].”
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