RJ and Makay

"Creating shared value," the new catch phrase used in corporate circles to describe the seemingly incompatible goals of making money and doing good in the world, was a key topic at the Committee Encouraging Corporate Philanthropy conference. The conference was held in New York on Monday as part of International Corporate Philanthropy Day.

These days, conference attendees agreed, philanthropy is no longer just about donating to charity but about executives making social responsibility a part of doing business. "Once you understand the impact you can have ... then you are on mission, then it becomes spiritual, it becomes part of the DNA of the company," says Bill Green, chairman of Accenture.

Within the outsourcing industry, the information technology sector and healthcare might be at the forefront, but financial services isn’t lacking in activity. Even though advisory firm TPI reported it observed a drop in the outsourcing of financial services during the 1^st and 2^nd quarter, there are still plenty of instances that contrast with the TPI index reports.

For instance, on the 15^th of September, outsourcing provider Broadridge says it’s expanding its services to meet the demand of financial institutions and provide more flexibility beyond securities processing. New services are to include securities clearance and settlement, corporate actions, tax reporting, mutual funds, accounts payable, treasury, risk, and compliance.