Australian bank ANZ is to axe an unspecified number of back-office IT jobs as a result of moving work to its Bangalore facility.
Australian press reports say the job cuts among 900 back-office staff are coming as a result of the bank moving towards a fully automated end-to-end mortgage process.
The system uses digital imaging technology instead of paper-based methods, and is expected to reduce the time it takes to process a loan from about a week to two days.
ANZ has told the Australian press that a “small” proportion of the 900 staff will be lost, but hasn’t so far confirmed the exact number.
The bank has recently increased the number of employees at its Bangalore development centre.
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