CSC (NYSE: CSC) strengthened its presence in Latin America by introducing to the market a wide spectrum of software and services for the financial services industry at the Inter-American Federation of Insurance Companies (FIDES) conference in Las Vegas this week.
To address the needs of financial services firms throughout the region, CSC is enhancing its software, including core administration systems, to support the currency, language and unique country-specific regulations and business requirements. Firms will also benefit from CSC's client-centric approach to providing management consulting, systems integration and business process and IT outsourcing.
Leveraging its recent acquisition of BearingPoint Brazil, strategic in-country alliances and more than 1,000 CSC employees based in Latin America, CSC is offering these solutions to the general, life, health and group insurance; reinsurance; banking; and credit companies of the region. This includes local firms as well as multinational corporations with Latin American operations. More than 1,200 financial services clients throughout the world currently use CSC's portfolio of software and services to efficiently run their operations and improve customer service.
"Latin America's financial services markets are among the fastest growing in the world, as companies seek IT solutions to improve their market positions," said Eric Prothero, a senior vice president of IDC. "It's no surprise that a global IT software and services company is building relationships and expanding its offerings in the region."
Two-thirds of the world's top 50 insurers and one-third of the world's top 50 banks have chosen CSC solutions. CSC is in the process of building in-country service delivery centers or forming alliances with IT services firms for localized implementation and support in select Latin American countries. CSC employees are currently located in Argentina, Brazil, Chile, Colombia, Costa Rica, Guatemala, Mexico and Peru.
"Our multi-year strategic growth plan for financial services is built on leveraging key horizontal capabilities, such as ERP software implementation support, systems conversions and infrastructure outsourcing, and adding vertical industry expertise to provide a comprehensive set of solutions," said Jim Cook, president of CSC's Business Solutions and Services Sector. "With this proven set of globally tested solutions and an expanding footprint, CSC brings new, enhanced options for insurance, reinsurance and banking in this dynamic and growing market."