LPO Outfits Set to Profit
Hyderabad: Subprime might be a bad word in the financial world particularly after some financial institutions in the US having to face rough weather due to their transactions in the segment.
But, there is a flip side to the story too. The subprime crisis in the US is actually resulting in increased business opportunity for the legal process outsourcing (LPO) outfits in the country.
Generally, subprime is an activity of lending money at higher interest rates to individuals with lessthan-perfect credit history.
Some of the major financial institutions in the US have landed in trouble due to the issues related to recovery of such advances and are trying out various methods including legal options to clean their records. Though in its nascent stage, the Indian legal process outsourcing segment is finding an unexpected business opportunity in the subprime crisis. Though the LPO sector is stated be of mere $146 million in size, it is expected to cross $640 million by 2010.
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