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Y2022 Sibos in Near EU Shore Center Bratislava

12 March 2014 Be the first to comment

Miloslav Hoschek

Freelancer

e-Silk Road, NGO

Bratislava is the capital city of Slovakia. About 450,000 people live there.
Bratislava in located on river Danube, the international airport is only 30 km - Viennese Airport
Bratislava has all potential to be a near shore centre and to become a leader among financial centres in Central and Eastern Europe
Over 70 different banks and insurance companies , clearing centers for cards, stock exchange, global reinsurer and a number of asset management are currently flourishing segment of this near shore financial sector.
Good economic education, excellent language skills, proximity to financial centres of Western Europe and lower personnel costs motivate consulting firms to increase the number of employees. This development in the future will become even more intense industrialisation of the global banking sector.
Here is zero foreign exchange risk (since Slovakia with euro currency is a part of the euro area)
the high percentage of English and German-speaking professionals in the labour market compared to other countries of Central and Eastern Europe,
university graduates are often here speaking three languages with good prospects to become a global talent and participate in services for global banks.
according to the Statistical Office is today the average salary in finance more than twice the diameter of the economy (vs. € 1,545. € 786) and given the prospect of this difference will continue to grow.
This new business environment has its name: "New Normal".
New rules and expectations of European clients as forcing banks to change dramatically.
Banks need to narrow the scope of activities on core activities, which go hand in hand with greater outsourcing and investment in automated banking processes. In addition, regulations require banks fundamental changes in internal processes,
This means that the sector consultants and service providers (such as. Supplies IT) with close links to finance grow.
Big IT names as IBM, Dell, Logica, HP,AT&T, Oracle, Siemens and others have here strong IT hubs with over 20 thous. IT specialist developers, consultants, IT migration projects and optimising back offices for Western European customers.
The banks in Central Europe are merging to regional centres, plus local banks managed very well SEPA End Day in February 2014.
Slovakia has great potential to enhance value-added services at the expense of hitherto prevailing call centres and service centres.
Slovaks are in banking processes and technologies a good choice in terms of education, work experience and language skills, and at lower personnel costs.
Bratislava has the potential to be outsourced back-office IT developer no.1 of European financial centres
In the next 5-10 years we expect the services sector to financial institutions in Bratislava grow significantly.
From Bratislava is in fact possible to operate efficiently Austrian and Western European financial markets.