The Official Blog of Acuity Knowledge Partners

Costa Rica: An Ideal Nearshore Destination

Published on January 28, 2019 by Miriam Manrique

Acuity Knowledge Partnerschose Costa Rica as a strategic business location because of its talent. The country has the best educational system in Latin America that is very well positioned in the world. English proficiency is rated first in TOEIC and second in TOEFL in the region, while 8% of the GDP is invested in education by constitutional mandate.

Because of the country’s political and economic stability, Costa Rica has seen a significant increase in the services sector in the last 17 years. Its services exports have grown from $849 million in 2000 to $5,000 million in 2017. During this period, over 150 multinationals have invested and opened new centers in the country, employing more than sixty thousand people, up from one thousand in 2000.

Over 30 of the top financial services firms, including 5 of the top 10 global investment banks, leading commercial banks and consulting firms, as well as hedge funds and asset managers have leveraged our nearshore support out of Costa Rica. Over 200 subject matter experts work as an extension of the client’s teams based in the Americas, bringing in investment savings in excess of $50 million.

In Acuity Knowledge Partners Costa Rica, we are proud to be an employer of choice and have access to great talent that has become key to deliver best-in-class services to our clients. In the last 13 years, we have focused on hiring, developing, and retaining our employees. At the same time, we have also focused on creating a knowledge culture in which people learn and grow while working with well-renowned financial institutions, which has resulted in us being ranked as a Great Place to Work ® for 9 years in a row.

Leading financial services firms have derived important benefits by partnering with Acuity Knowledge Partners Costa Rica. A top global consulting firm has 30 analysts supporting the client’s data and research services team in Boston. The group of experts handles more than a thousand requests a month and supports more than twenty researchers and consultants across multiple sectors and geographies. Solutions it provides include general research, economic and quantitative research, and practice area research.

A US retail bank within the top 15 largest banks has benefited from our dedicated support to the origination, underwriting, and portfolio management teams. The bank’s analysts have been able to find more time to focus on client facing activities and in depth analysis, while we focused on high-end tasks. We have also improved the time used to spread financials and reduced error rates to less than 1.5%.

Leading investments banks have used Costa Rica as a nearshore location to provide real-time investment research and banking services. They have access to a talent base of trained resources, get research and banking support with substantial cost savings, take advantage of our sector and subject matter experts, and benefit from our diverse language support including Spanish, Portuguese, French, German, English, among others. 

We have an experienced management team with more than 50 years of experience providing financial services with the objective of developing strong partnerships and have the best nearshore location in the Americas. Finally, and most importantly, the Costa Rica center is an integral component of the Acuity Knowledge Partners global platform with the goal of providing real time support to our clients located in the Americas with seamless quality and excellent standards.

Explore how you can leverage nearshoring to gain strategic business advantage and stay ahead of the curve. Get in touch at contact@acuitykp.com

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About the Author

Miriam has over 16 years of work experience transforming, growing, and leading near-shore specialized finance companies with high levels of client satisfaction and employee engagement; our Costa Rica center has been ranked as a Great Place to Work for nine years consecutively. She is ranked in the Top 100 Business Women in Latin America. A CFA charterholder, she holds a Master of Business Administration in Finance and Economics, a Certification in Strategy and Innovation, and a Bachelor’s degree in Economics.

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