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Trading through these two other banks would, however, reduce the back office work -- and therefore costs -- at Allfirst.
This is worrying, as the City is increasingly reliant on temporary staff to do administrative and "back office" work, including IT.
Areas that benefited over the past two decades from the migration of "back office" work out of central cities could now see a share of those jobs leave for other parts of the world, warn Kroll and Bardhan.
Several industry practitioners will each spend one to two sessions providing a hands-on experience that recreates the operations and decision-making process of front, middle, and back office work at a bank.
Among the tasks the company will undertake for Microsoft, said Vivek Paul, Wipro's chief executive for technologies, is performing basic business functions, essentially back office work, one of the fastest-growing industries in India.
The spread of the Internet has brought the Wal-Mart model to all kinds of businesses, especially service jobs, like computer programming and back office work, that once seemed immune to foreign competition.
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DHL, a big logistics group, is to switch back-office work from west London to Prague.
Look at the growing proportion of back-office work that foreign banks are moving to India by offshoring and outsourcing.
Capita could do the back-office work of the police service with half the staff, he reckons.
Back-office work, along with computer programming and data crunching, is "offshored" to India, so our dollars go even further.
BT said it would continue to outsource back-office work and functions that do not involve taking customers' calls offshore.
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