Lloyds Banking Group is aiming to “deploy new technology to drive additional operational efficiencies that will make banking simple and easier."

"Devices will recognize the user rather than having to remember an assortment of letters and numbers that are forgotten or could be guessed," said Lloyds.

From IT to BPO to regulatory compliance efforts, we are now arriving "at that place where the banks are ready to outsource,” says Anupam Jain of Everest Group.