ANZ off-shores home loan approvals
I was surprised that my old employer, ANZ Bank, is now approving home loans from India. I was there when they started to review existing customers loan arrangements which was being done out of Manila, but approvals! Interestingly ANZ missed out on a new home loan because they approved a loan well below what was requested.It also took them 7 days to have it approved. So I went across to a competitor, it was all approved within 48 hours and I managed to get it at a cheaper rate. This is the way ANZ are moving and generally most banks and businesses are continuing to offshore so they can reduce costs, however with rising unemployment in this country, offshoring could be the next big political issue for this country and not only will their costs come down but so will their income!
