Outsourcing

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Norwich Union set to cut 500 operations jobs

/Outsourcing

Norwich Union set to cut 500 operations jobs

UK insurer Norwich Union is set to axe up to 500 operations jobs at its York offices and transfer the work to third party suppliers.

Banco Espírito Santo expands IBM IT outsourcing contract

/Outsourcing

Banco Espírito Santo expands IBM IT outsourcing contract

Portugal's Banco Espírito Santo (BES) has expanded its IT outsourcing contract with IBM to cover the bank's entire midrange infrastructure.

India's HCL to acquire Liberata Financial Services

/Outsourcing

India's HCL to acquire Liberata Financial Services

Indian IT systems house HCL Technologies is to acquire the fixed assets of UK life and pensions outsourcer Liberata Financial Services for $2 million.

Visa Europe migrates to new BT network

/Outsourcing

Visa Europe migrates to new BT network

Visa Europe is migrating its transaction network onto BT's IP-based 21CN Global Network under a five year managed services deal.

Thailand's Thanachart signs IT services deal with IBM

/Outsourcing

Thailand's Thanachart signs IT services deal with IBM

Thailand's Thanachart Bank has inked a seven year, $60 million, information technology outsourcing services deal with IBM.

Aviva sells BPO unit to WNS

/Outsourcing

Aviva sells BPO unit to WNS

Insurance group Aviva has sold its offshoring operations to Indian business process outsourcing (BPO) firm WNS in a £115 million cash deal.

IBM wins Banco Fondo Comun IT outsourcing deal

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IBM wins Banco Fondo Comun IT outsourcing deal

Venezuela's Banco Fondo Comun (BFC) has inked a five year information technology services deal with IBM.

Lender Processing Services joins the Finextra50 index

/Outsourcing

Lender Processing Services joins the Finextra50 index

Lender Processing Services (LPS), the subsidiary spun off in a separate NYSE listing by Fidelity National Information Services last week, has entered the Finextra50 Financial Technology Index. The index fell .8% to 80.92 in a short week for US markets. The Innovation Group saw the biggest gain while Bravura led the losers.

SunGard buys Ireland's Delphi Technologies

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SunGard buys Ireland's Delphi Technologies

Fintech powerhouse SunGard has acquired Delphi Technologies, an Ireland-based provider of IT consulting and professional services to banks, insurers and telcos. Financial terms of the deal were not disclosed.

Nationwide outsources IT networks to BT

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Nationwide outsources IT networks to BT

The UK's Nationwide Building Society is outsourcing the management of its networked IT services to BT under a seven year, £160 million deal.

Citi looking to sell Indian BPO and tech units - report

/Outsourcing

Citi looking to sell Indian BPO and tech units - report

Citigroup is looking to restructure its Indian back office operations and put its BPO and technology divisions up for sale, according to local press reports which cite IBM as the "lead contender" for the assets.

EDB sells Swedish unit to BancTec

/Outsourcing

EDB sells Swedish unit to BancTec

Nordic IT services group EDB Business Partner is selling its Swedish subsidiary Inndata to US BPO vendor BancTec. Financial terms of the deal were not disclosed.

Crunch to spur IT outsourcing - study

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Crunch to spur IT outsourcing - study

Hit by the credit crunch, banks are looking to outsource operations as a way of deferring investment in their technology infrastructures, according to research from business advisory outfit EquaTerra.

HSBC creates 250 call centre jobs

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HSBC creates 250 call centre jobs

UK banking group HSBC is creating 250 call centre jobs over the next two years at its operations in Newport, Wales, but will outsource work currently handled by the unit to outside firms.

TietoEnator slumps as bid talks end

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TietoEnator slumps as bid talks end

Shares in Scandinavian IT services vendor TietoEnator slumped in morning trading after it said talks with potential suitors had ended without any firm offers.

Credit crunch to boost demand for outsourcing - report

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Credit crunch to boost demand for outsourcing - report

The credit crunch will drive a wave of outsourcing and offshoring in financial services as cash becomes tighter and banks look to cut costs, according to a UK study.

Robeco terminates Ordina IT outsourcing deal

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Robeco terminates Ordina IT outsourcing deal

Dutch asset manager Robeco has terminated a 10-year outsourcing agreement with ICT services firm Ordina following a disagreement over the platform selected to manage its back office processes.

Accenture wins Icap outsourcing deal

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Accenture wins Icap outsourcing deal

London-based interdealer broker Icap has awarded a five year contract to develop and maintain its European Union credit trading platform to technology consultancy Accenture.

TietoEnator slumps as Nordic Capital sells stake

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TietoEnator slumps as Nordic Capital sells stake

Shares in Scandinavian IT services vendor TietoEnator have slumped on news that Nordic Capital's bid vehicle Cidron Services has sold off a 4.4% holding in its business.

HP acquisition plans benefit Mphasis

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HP acquisition plans benefit Mphasis

HP's planned acquisition of EDS drove shares in Indian outsourcing specialist Mphasis up 18.84% last week. The firm, 62% owned by EDS, led the gainers in a strong week for the Finextra 50 Financial Technology Index, which closed up four per cent to 88.69. i-Flex and Broadridge also saw significant rises while Thomson Reuters shares experienced their biggest one-week gain since the merger completed. S1, Microgen and Bravura were the only companies to buck the trend last week and record significant share price falls.

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