A quarter of financial services providers pinpoint cost as the biggest barrier to launching new products, research suggests.
According to a study conducted by financial outsourcing firm Opal, 24% of firms say cost constraints were the primary reasons affecting their ability to go to market with an insurance, investments or savings product.
Technology constraints (22%) and marketing resources (18%) were also cited as reasons.
The study questioned a number of providers whose products range from savings and investments to insurance and protection.
Tony Collins, Opal managing director, says the results reveal the "Achilles' heel" of the financial service providers in today's market - cost and technology constraints.
"More and more providers are recognising using outsourcing can benefit their business, particularly in these two areas," he says.
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