UK business process management vendor Staffware has moved to capitalise on the trend for offshore outsourcing in the financial services sector by developing a relationship with India's Tata InfoTech.
The agreement between Staffware and Tata relates to the development of outsourced workflow services for financial sector firms looking to centralise operations and take advantage of lower labour costs in offshore development centres.
The world's top 100 banks expect to transfer an estimated $356 billion of their operations and two million jobs offshore over the next five years, according to research by Deloitte Consulting.
Tata Infotech was formed in 1978 in partnership with Burroughs Corporation of USA and has long experience in the running of mission-critical business systems and design and implementation of workflow, document management and image handling solutions. The company has agreements with other major players including Cisco, HP, SUN and Unisys.