Latest Outsourcing News: Finextra Research

Accenture wins Van Lanschot Bankiers outsourcing contract

Van Lanschot Bankiers has awarded Accenture a seven-year, multi-million dollar outsourcing contract to develop and maintain the Dutch bank's overall core banking applications, including credit services, asset and risk management.

13 January 2009

News/Outsourcing

Wipro banned from World Bank contracts

The reputation of India's IT services industry took another blow today after it emerged that Wipro has been barred from working for the World Bank, less than a month after it was revealed Satyam Computer Services has been blacklisted by the institution.

12 January 2009

News/Outsourcing

Icesave collapse prompts 150 redundancies at Newcastle Building Society

Newcastle Building Society has blamed the loss of a key outsourcing contract with failed Icelandic Internet bank Icesave, along with tough economic conditions, for its decision to make 150 staff redundant.

09 January 2009

News/Outsourcing

IBM reports Indian and Chinese bank contract wins

India's Kotak Mahindra Bank has inked a $5 million IT infrastructure services deal with IBM for the construction and maintenance of a green data centre and IP network infrastructure.

08 January 2009

News/Outsourcing

Satyam chief quits after admitting cooking the books

The founder and chairman of Indian outsourcer Satyam Computer Services, B Ramalinga Raju has resigned after admitting the company's profits have been falsely inflated for several years, leading to a $1 billion hole in the balance sheet.

07 January 2009

News/Outsourcing

Steria wins Capita outsourcing deal

Steria has won a five year deal with insurance outsourcer Capita Life & Pensions to provide offshore IT application development and support services for the company's clients.

07 January 2009

News/Outsourcing

Goldleaf sells core processing and teller business to IBT

Tennessee-based Goldleaf Financial Solutions has agreed to sell its core processing and teller automation systems to Integrated Bank Technology (IBT). Financial terms were not disclosed.

06 January 2009

News/Outsourcing

IBM wins Madhav Nagrik Sahakari Bank IT outsourcing deal

Madhav Nagrik Sahakari Bank, a co-operative in the Indian state of Rajasthan, has inked a five year IT outsourcing deal with IBM to support its move into Internet and mobile banking.

15 December 2008

News/Outsourcing

Fidelity puts Indian IT outsourcing unit on the block - Economic Times

US investment house Fidelity has put the IT support arm of its captive Indian back office business on the market, the Economic Times reports, citing two anonymous sources close to the sale process.

15 December 2008

News/Outsourcing

Big Blue scores with Friends Provident and the Chilean Stock Exchange

UK life and pensions outfit Friends Provident has inked a 10 year, £200 million, IT and infrastructure services outsourcing deal with IBM.

10 December 2008

News/Outsourcing

Barclays to axe 100 staff in outsourcing move

Barclays Bank is to axe 109 jobs in the Welsh capital, Cardiff, under plans to outsource the unit that handles the accounts of deceased customers.

08 December 2008

News/Outsourcing

Tsys loses WaMu deal as Chase brings processing in-house

JPMorgan Chase is bringing Washington Mutual's card processing in-house, terminating the distressed bank's current deal with Tsys.

03 December 2008

News/Outsourcing

Blackstone buys majority stake in IT outsourcing arm of India's CMS

US private equity firm Blackstone has acquired a majority stake in the IT outsourcing arm of India's CMS Computers.

01 December 2008

News/Outsourcing

China Postal Savings Bank signs credit card processing deal with CUP Data

China Postal Savings Bank has inked a multi-year credit card processing deal with China UnionPay Data Services (CUP Data).

01 December 2008

News/Outsourcing

BankWest sells stake in IT outsourcing JV to Unisys

Australia's BankWest has sold its 49% stake in IT outsourcing joint venture Unisys West to its tech partner. Financial terms were not disclosed.

26 November 2008

News/Outsourcing

Wincor Nixdorf wins three-year Kontanten ATM outsourcing deal

Wincor Nixdorf has won a three-year ATM managed services contract from Swedish independent cash machine operator Kontanten.

26 November 2008

News/Outsourcing

Raiffeisen International outsources core banking development to Misys/HCL

Raiffeisen International is to outsource development and support of its core banking technology to Misys and Indian outsourcer HCL Technology.

25 November 2008

News/Outsourcing

Online start-up Ivobank contracts with Pasporte for hosted IT services

Ivobank, the London-based online bank launched earlier this year, has signed a five year managed services contract with information and communication technology outsourcing specialist Pasporte.

18 November 2008

News/Outsourcing

Co-op tech workers vote to strike over offshoring

Outsourced Co-operative Bank staff working at French IT services firm Steria in the UK have voted to go on strike over the offshoring of their jobs to India.

12 November 2008

News/Outsourcing

BNP Paribas sets up Indian BPO joint venture

BNP Paribas Securities Services is to set up a back office processing joint venture in India with Sundaram Business Services, the business process outsourcing arm of financial conglomerate Sundaram Finance.

06 November 2008