Latest Outsourcing News: Finextra Research

London Stock Exchange partners Wipro to launch reconciliation utility

The London Stock Exchange has partnered with Indian IT services firm Wipro to launch a hosted reconciliation utility designed to eliminate the needs for firms to invest in technology, people and processes for tracking their outstanding transactions.

09 July 2014

News/Outsourcing

As cyber threat grows, EU regulators warn FS firms on IT budgets

Europe's financial institutions have been told by regulators that they must protect their IT budgets in order to guard against the growing threat of cyber attacks.

03 April 2014

News/Outsourcing

UBS to outsource fixed income platform to Murex and ION - Reuters

Swiss bank UBS is to outsource large parts of its fixed income technology infrastructure to Murex and ION, according to Reuters.

20 January 2014

News/Outsourcing

BBVA Compass to cut 600 jobs in outsourcing pact

BBVA Compass is to cut up to 600 jobs in the US after agreeing outsourcing deals with Xerox and Accenture.

10 January 2014

News/Outsourcing

IBM takes control of $1.3 billion ADTS business

IBM has taken a controlling stake in Associated Dexia Technology Services, which provides IT services to financial institutions formerly within the Dexia Group, including Belfius Bank, Belfius Insurance and Banque Internationale à Luxembourg.

09 December 2013

News/Outsourcing

Standard Chartered client bank statements found on hacker's laptop

The private banking statements of 647 high-net-worth clients of Standard Chartered Bank have been found on the laptop of a hacker busted by Singapore Police.

06 December 2013

News/Outsourcing

FIS tech to power India's first bank for women

India's first public sector bank for women opens its doors today, powered by technology from US fintech vendor FIS.

19 November 2013

News/Outsourcing

Markit acquires DTCC corporate actions validation service

Financial data outfit Markit has acquired the assets of Global Corporate Actions Validation Service from the Depository Trust & Clearing Corporation (DTCC). Financial terms of the deal were not disclosed.

17 June 2013

News/Outsourcing

Deutsche Bank buys Xchanging out of JV

London-based back office processing provider Xchanging has agreed to sell its 51% stake in Xchanging Transaction Bank (XTB) back to partner Deutsche Bank for EUR40.5 million in cash.

15 May 2013

News/Outsourcing

LME terminates lucrative Xchanging contract

Xchanging has lost a £25 million per annum infrastructure servicing contract with the London Metal Exchange as the LME's new owners call time on a profitable eight-year relationship for the BPO provider.

30 April 2013

News/Outsourcing

Asia Pacific banks step up risk IT spending

Nearly two thirds of Asia Pacific banks expect to see their risk management technology budgets grow this year, according to research from IDC Financial Insights.

04 March 2013

News/Outsourcing

Swisscom acquires Entris Banking IT outsourcing business

Swiss IT integration house Swisscom is to acquire the Entris Banking IT outsourcing business of RBA-Holdings, which provides services to 41 regional and savings banks across the country.

08 February 2013

News/Outsourcing

Indian financial services IT spending to grow 12% in 2012 - Gartner

Indian banking and securities companies will spend 416 billion rupees on IT products and services in 2013, an increase of more than 12% on last year, according to Gartner.

30 January 2013

News/Outsourcing

Lloyds to offshore more IT jobs

Lloyds Banking Group has been slammed by union Unite over plans to offshore 190 IT jobs as part of larger round of 940 UK layoffs.

23 January 2013

News/Outsourcing

SocGen considers outsourcing 400 back office jobs - Reuters

French bank Societe Generale is pondering outsourcing around 400 corporate and investment back office jobs to Accenture, according to Reuters.

22 November 2012

News/Outsourcing

India to double ATM numbers to 200,000 by 2016

The number of ATMs in India will double over the next four years, to 200,000, as regulatory changes that open the market up to non-banks take effect, according to Celent.

12 October 2012

News/Outsourcing

Lloyds to run IT for Co-op branch network

The bargain-basement acquisition of 632 Lloyds bank branches and 754 ATMs by the UK's Co-operative group includes a long-term technology services agreement between the two parties.

19 July 2012

News/Outsourcing

RBS meltdown blamed on Indian IT operative

Royal Bank of Scotland is refusing to confirm or deny reports that an inexperienced IT operative in India was partially responsible for the computer meltdown that afflicted payments processing at the bank last week.

27 June 2012

News/Outsourcing

Wells Fargo exploring plans to move more jobs overseas

Wells Fargo is considering exporting jobs to offshore sites in India and the Philippines as it embarks on a company-wide cost-cutting programme aimed at eliminating billions of dollars in quarterly expenses.

21 June 2012

News/Outsourcing

Cognizant wins $330m ING US contract

ING US has inked a seven year, $330 million, insurance business process services contract with Cognizant that sees 1000 employees transfer to the vendor.

15 June 2012