6th December 2005 Draft Guidelines on Outsourcing of Financial Services by banks The world over, banks are increasingly using outsourcing, to third parties who may be unrelated or member of the group/conglomerate as a means of both reducing cost and accessing specialist expertise, not available internally and achieving strategic aims. Outsourcing brings in its wake, several risks like Strategic Risk, Reputation Risk, Compliance Risk, Operational Risk, Exit Strategy Ri