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  October 3, 2013: Finance Firm Opens BPO Center

Capital One Financial Corporation, one of the largest financial institutions in the US, yesterday opened its newest and largest support services facility in the country, employing over 2,200 Filipinos to provide support operations to its US Credit card and retail bank services business.
The new Capital One Philippines Support Services Corp. (COPSSC) is located in Northgate Cyberzone of the Filinvest Corporate City in Alabang.
Healther Cox, Capital One executive vice-president of US Card Operations, said they have decided to put its support services facility here because, "We know that the Philippines is a leading destination for call contact centers and the incredible talent of the Filipino workers."
Capital One, which acquired HSBC's Card and Retail Services in the US in May 2012, has technically absorbed HSBC's contact operation here with 2,200 people.
But COPSSC general manager Paul Townsend said they did not just merely absorbed the HSBC people but they offered the former HSBC workers to work with the new company. He said they are still hiring more to further increase its business footprint in the country.
Townsend also said that while the existing operations only serve the company's US operations and clients in the US, they will evaluate their operations on hopes of expanding its services to other markets as well.
Capital One operates four support services facilities in the US, UK, Canada and India, but the Philippines, which is majority voice services, is its largest site.
Capital One also announced the formation of a new partnership with the Tuloy Foundation to develop a call center/customer service curriculum and ongoing associate volunteer program. Capital One's initial investment of P1 million pesos will go towards formalizing this new learning center and vocational curriculum that will provide the Tuloy schoolchildren with a valuable skills set that they can put to use immediately upon graduation from the program.
"At Capital One we are committed to making a real and positive difference in the communities where we live and work," said Townsend.
"We look forward to becoming trusted neighbors and community partners, as we share our expertise and resources with local economic development programs and nonprofit organizations," he said.
Founded in 1994, Capital One has over 65 million customer accounts and 42,000 associates. The company offers a wide variety of financial products and services to consumers in the US, Canada and United Kingdom.
Capital One Financial Corporation is financial holding company whose subsidiaries has $209.0 billion in deposits and $296.5 billion in total assets as of June 30, 2013.

Source: Manila Bulletin - October 3, 2013

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