ANZ to transfer more jobs offshore

The bank employs more Bangalore and Manila workers to take advantage of cheaper labor costs.

ANZ Bank plans to move some finance processing roles to its back offices in Bangalore and Manila resulting in about 50 job losses in Australia.

Australia's fourth-largest lender, which is expanding in Asia, is looking to improve efficiency and simplify the structure, a bank spokesman said adding Accenture will build and manage the offshore finance function for five years.

Banks and other services firms globally have over the last 15 years moved swathes of back office operations to centres such as Bangalore to tap the low cost and army of English speaking graduates.

ANZ employs about 3500 people at its back office in Bangalore and earlier this year said it planned to have 300 employees at its Manila offshore unit.

View the full story in The Brisbane Times.