ING Approaches 30% Cost-Reduction Target After Two Years of Outsourcing

BRUSSELS - Dutch banking giant ING Group has almost reached its 30% cost-reduction target after two years of outsourcing global reference data management to Capco Reference Data Services (CRDS), now Netik, according to speakers at a Netik seminar in London in June.

In March 2006, ING completed the transfer of reference data management to CRDS. The firm had built a data management system with a database of two million securities. "It was key to our business, but it was not our business," said Brus

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