Financial services companies are currently capturing less than one third of the potential cost savings offered by offshoring operations, according to a study by Deloitte Touche Tohmatsu.

The study found that the most effective offshorers among financial institutions have 6.7 percent of their global headcount offshore, well ahead of the study average of 3.5 percent. If all surveyed companies were to reach this headcount ratio, they could reduce their collective annual cost base by $16 billion -- more than tripling their current reported savings of $5 billion.

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