Quick answer
Financial services outsourcing is the use of dedicated outside professionals for operations, finance, customer support and technology work at banks, lenders, fintechs, insurers and investment firms, while the institution keeps credit, risk and compliance decisions. Connext recruits, employs and co-manages those professionals in Colombia, Mexico, the Philippines and India; they work in the client's systems under the client's policies.
Institutions rarely run out of work. They run out of people to do it, and the gaps show up in the same places:
Files wait for conditions, title and servicing work while volume grows.
Reconciliations slip to the last week, and financial and regulatory reports land late.
Books stay unreconciled and cash forecasts arrive after the decision they were meant for.
Peak demand and language coverage outrun the team.
Data entry and multi-step workflows pile up faster than headcount.
Hiring locally fixes it slowly, and some technical roles cannot be filled in the local market at all.
Real situation
A Florida-based global investment management firm and a Hawaii-based bank both built Connext teams for technical roles their local markets could not supply. The firm's first team led affiliated entities to onboard teams of their own; the bank's team grew to 17 people, including loan servicing.
people on the bank's team, including loan servicing
“I liked the leadership, flexibility, and commitment to retaining people with a profoundly human touch.”
COO, Fintech Company
Loan servicing, loan processing, closing and title coordination, treasury and cash, financial and regulatory reporting preparation, and customer support.
Data management and entry, lending operations, customer support with a bilingual help desk, and finance support.
Fund accounting, investor reporting support, portfolio-company finance and IT help desk.
Accounting and close, payroll, collections, controllers and CPAs.
The institution keeps
Every decision that carries regulatory or credit risk: final credit decisions and underwriting sign-off, regulatory filings and signatures, examiner contact, and the risk and compliance program with its policies and accountability. It also keeps approval and release of payments, every system role (granted and removed by the institution), the direction of the work and the approval of each hire.
Connext handles
The rest of the support: recruiting, employment, payroll, benefits and in-country compliance through its employer-of-record structure, secure facilities and equipment, and co-management. Connext's teams prepare documents, track conditions, draft reports for review before anything is filed, and prepare payment runs for approval.
Financial institutions buy offshore support under third-party risk rules. In June 2023 the Federal Reserve, the FDIC and the OCC issued joint guidance that asks banking organizations to manage third-party risk through the whole life of a relationship, from planning and due diligence to contract negotiation, ongoing monitoring and termination (Federal Reserve SR 23-4, June 7, 2023). The institution's own risk and compliance teams decide what each relationship requires. Here is what Connext supplies at each stage.
A scoping call and job description calibration define the scope before anyone is hired.
Connext holds a SOC 2 Type II audit for the Security criterion and is PCI DSS compliant. Facilities have biometric, controlled-access entry, Connext provides the equipment, and no client data is stored offshore.
Country-specific managers co-manage each team, with weekly syncs and shared KPIs.
Every function runs on Connext equipment, in facilities covered by Connext's SOC 2 Type II audit, with system access set by your team.
Bill rates per month, Philippines, from the Roles and Rates sheet.
These are simulations of role prices. Given your job description, Connext can provide more accurate pricing to support your company's needs.
Pending sign-off not for publication
Finance has to confirm the basis of the savings column: in the source sheet those percentages do not reconcile with the printed ranges. The sheet also has no rows for loan servicing, fund accounting, treasury, reporting or collections.
Six steps, and four of them happen before a client sees anyone.
1
Connext and the client align on the role before the search starts.
2
Applicants are screened with AI-enabled tools.
3
Candidates complete assessments.
4
A Connext Operations Manager interviews the candidates who pass.
5
Each packet holds the resume, bill rate, assessment scores and interview notes.
6
The client interviews and chooses.
We bring the talent; you choose the perfect fit.
A non-traditional BPO changing traditional outsourcing
Certifications
SOC 2 Type II attestation report and PCI DSS compliant.
Facilities and power
Secure global facilities with biometric, controlled-access entry, Connext-provided equipment, and no client data stored offshore.
Support structure
Connext is the employer of record and handles payroll, benefits, facilities, IT and in-country compliance. Country-specific managers and an operations manager support each team.
We make it our mission to enable your growth
Teams start from a job description, with no upfront cost, and the average time to hire is 21 days. Teams add people in stages as volume grows.
Built-to-spec solutions with detailed implementation
Every search starts with job description calibration. Every candidate clears AI-enabled screening, assessments and an Operations Manager interview before a packet reaches you, and each packet holds the resume, bill rate, assessment scores and interview notes.
Management style adopted from the US military
Connext is veteran-owned and operated. High responsiveness, accountability and discipline.
Strong ethos and aligned values
of Connext hires are still on the job at 90 days, and 91% at six months.
Pending sign-off · not for publication
The wording of the AI-enabled screening step is still pending sign-off.