Xchanging, a UK-based provider of processing services to the financial services industries, has relocated its Singapore operations to a new center.

According to the company, this center will be headed by William Woo, who was recently appointed as managing director for South East Asia.

Xchanging claims that the new center follows global best practice in design and technology to create a state-of-the-art environment. It follows a repeatable format seen in all Xchanging offices across the world. The design supports lean processing, collaboration and transparency with customers.

David Andrews, CEO Xchanging, said: “Establishing our South East Asia headquarters marks a significant milestone for Xchanging as it forwards our ambition to be the global business processor of choice for our customers.

“Singapore is undoubtedly emerging as a global financial services hub; the region as such is taking a leadership position in the utilization of new generation technologies such as Cloud Computing. This makes it a logical step in our growth strategy. Our existing customer relationships such as with the Government of Singapore and DHL give us a good head start in the region.”

Xchanging’s Asia Pacific business includes Australia, Singapore, Malaysia, India, China and Japan.

Kerry Purcell, head of Asia Pacific for Xchanging, said: “To address opportunities in the diverse economies of this region, we have organized ourselves as three sub-regions in Asia Pacific – Australia, India and surrounding South Asian countries and South East Asia. As a central business hub, Singapore was the perfect location for us to set up our South East Asia headquarters.

“There is a growing demand for technology and BPO services in the region. Our center in Singapore brings us closer to our customers in the region to offer Xchanging’s expertise and services to companies across industries in South East Asia.”