Latest Outsourcing News: Finextra Research

SS&C buys financial data hub Evare

Connecticut-based fintech vendor SS&C Technologies has acquired Evare, a managed service provider for financial data acquisition, transformation and delivery. Financial terms of the deal were not disclosed.

23 March 2009

News/Outsourcing

ANZ refutes offshoring claims

ANZ has refuted reports that it is to axe 500 Australian back office and technology jobs and shift the workload to its offshore centre in Bangalore.

16 March 2009

News/Outsourcing

Payzone sued by Welcome Break in ATM row

Ireland's Payzone has confirmed it is being sued by UK motorway service station operator Welcome Break in a dispute over ATM maintenance targets and charges made to customers for cash machine withdrawals.

11 March 2009

News/Outsourcing

Aviva inks £700m data centre management deal with EDS

UK insurance group Aviva has inked a 10 year, £700 million contract with US IT services firm EDS for the management of two UK data centres.

03 March 2009

News/Outsourcing

Tieto to axe 350 jobs

Scandinavian IT services vendor Tieto has begun the process of axing around 350 staff in Northern Europe in a bid to weather the global economic storm.

26 February 2009

News/Outsourcing

SEB outsources Sepa direct debits processing to Equens

Sweden's SEB is to outsource processing of Sepa direct debit transactions to European payment processor Equens.

19 February 2009

News/Outsourcing

IBM to deliver application testing services to Deutsche Bank

IBM has been selected by Deutsche Bank to transform the integration testing part of its application service delivery for the Private & Business Clients and Global Banking business units.

18 February 2009

News/Outsourcing

Merrill to shift outsourcing contracts from Satyam to Tata - Economic Times

Merrill Lynch is shifting a majority of its contracts from troubled Indian software firm Satyam Computer Services to rival Tata Consultancy Services, the Economic Times reports, citing "software industry sources familiar with the matter".

16 February 2009

News/Outsourcing

Morse reports heavy losses; sells off CSTIM

UK IT services group Morse is to discontinue its Investment Management Consulting business and restructure its operations after reporting a group-wide operating loss of £17.3 million for the six months ended 31 December 2008.

11 February 2009

News/Outsourcing

NAB suspends Satyam outsourcing plans - The Australian

National Australia Bank is to put on hold plans to outsource more technology functions to troubled Indian IT services group Satyam.

05 February 2009

News/Outsourcing

BNY Mellon wins Invesco funds mandate

BNY Mellon Asset Servicing has been appointed by Invesco to provide global custody, fund accounting and fund administration services for UK and offshore assets valued at over $50 billion.

29 January 2009

News/Outsourcing

AXA names Capita preferred bidder for £500m outsourcing deal

French insurance group AXA has chosen Capita as preferred bidder for a pensions administration outsourcing contract worth £500 million, in a move union Unite says puts up to 350 UK jobs at risk.

22 January 2009

News/Outsourcing

IBM and BNP Paribas extend outsourcing joint venture to Italy's BNL

IBM and BNP Paribas have signed a EUR318 million, six-year agreement for their existing joint venture, BP²I, to handle the IT infrastructure operations of the French bank's Italian subsidiary, Banca Nazionale del Lavoro (BNL).

21 January 2009

News/Outsourcing

Satyam loses State Farm Insurance contract

Satyam Computer Services has had its IT outsourcing contract with US-based State Farm Insurance terminated in the wake of revelations about a $1 billion accounting fraud at the Indian firm.

19 January 2009

News/Outsourcing

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