The Banking, Financial Services, and Insurance (BFSI) sector’s reliance on outsourcing continues to grow, driven by digital transformation and cost optimization needs. While India remains the dominant player in global IT outsourcing, leading firms are now adopting a new strategy to mitigate risks.
This approach maintains existing Indian operations while adding Vietnam as a complementary destination, creating a balanced, resilient outsourcing model that combines India’s scale with Vietnam’s emerging advantages.
The Case for Diversified Outsourcing Partnerships
India’s dominance in BFSI outsourcing is well-earned, with its vast talent pool, deep financial services expertise, and mature IT ecosystem. However, relying solely on any single market—no matter how established—creates vulnerabilities. Talent shortages during peak periods, infrastructure limitations, and regional uncertainties can disrupt operations.
Vietnam emerges as the natural “+1” in this case, offering complementary strengths rather than attempting to replace India’s mature outsourcing industry. The country provides additional capacity during India’s peak demand periods, alternative development centers for business continuity, and access to a growing pool of specialized talent. This dual-hub approach allows firms to maintain their Indian operations while building parallel capabilities in Vietnam, creating operational redundancy without disruption.
Vietnam’s Strategic Value in a Multi-Hub Model
Vietnam has rapidly emerged as a premier destination for BFSI outsourcing, offering distinct advantages that address India’s limitations. The country boasts a rapidly growing tech workforce with strong capabilities in fintech, cybersecurity, and AI—skills critical for modern financial services.
- Vietnam ranks 10th in World Rank of Best Developers Survey.
- Vietnam Ranks 3rd for Artificial Intelligence Coders according to Hacker Rank’s Report of 2021.
- Vietnamese coders rank 11th globally in terms of their skill ratings according to the 2022 TopCoder Report’s Developer Skills Charts
Top technologies offered
Geographically, Vietnam offers superior time zone alignment with European markets, enabling real-time collaboration for UK firms. The government’s proactive support for IT sector growth, combined with political stability and modern infrastructure, creates an ideal business environment.
Rather than replacing Indian ODCs, Vietnam serves as a strategic complement—allowing firms to maintain scale while adding operational redundancy. This balanced approach future-proofs outsourcing strategies against regional disruptions while optimizing costs and talent access.
Read more: Unlocking Vietnam’s Potential: Bridging the Global Tech Talent Gap
Beyond the Shortage: How CMC Global Fuels U.K Tech Growth
The persistent IT talent gap in the U.K. is slowing innovation, increasing costs, and straining existing teams—but it doesn’t have to. CMC Global offers a strategic, scalable solution backed by decades of experience and a vast network of elite IT professionals. Here’s how we help businesses overcome this challenge:
Instant Access to a Deep Talent Pool
With 3,000+ highly skilled IT specialists across software development, cloud computing, cybersecurity, AI, and more, we can quickly match your project with the right expertise—eliminating months of recruitment delays.
Proven Success with U.S. Businesses
Having delivered 300+ projects for U.S. clients, we understand the compliance, security, and quality standards required. Our two U.S.-based country directors ensure seamless communication and alignment with your business goals.
This deep experience drove results for a U.S. bank needing 24/7 fraud protection. By implementing their Banking Fraud Alert System, we achieved:
- Real-time monitoring with zero downtime
- 100% control over transaction security
- A scalable framework to combat evolving threats
Flexible Engagement Models
We adapt to your needs—whether it’s short-term contractors, dedicated teams, or end-to-end project delivery—with transparent pricing tailored to your goals:
- Fixed-cost projects for predictable budgets and timelines.
- Staffing models to scale expertise up or down as needed.
- Hybrid models blend both approaches for optimal flexibility and cost efficiency.
Backed by proven industry-expertise, including specialized AI-DX Consultancy for digital transformation, we deliver tailored solutions that address industry-specific challenges—from regulatory compliance in banking to AI-driven diagnostics in healthcare.
Our Data & AI solutions unlock actionable insights, while Digital & Cloud Services streamline operations and future-proof your infrastructure. Whether you’re modernizing legacy systems or deploying cutting-edge AI, we combine the right talent, certified tools, and measurable ROI to ensure your success—without cutting corners.
Future-Ready Talent Strategies
Beyond filling immediate gaps, we help you build long-term resilience through upskilling programs, workforce planning, and scalable offshore/nearshore solutions that reduce dependency on local hiring.
The IT talent shortage won’t disappear overnight—but with CMC Global, you won’t have to face it alone. Let’s connect to discuss how we can deploy the right talent, reduce costs, and keep your projects on track.
