Outsourcing

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/Outsourcing

Tsys renews card payment deal with Rabobank

TSYS (TSS) today announced that Rabobank has renewed its payments agreement with TSYS to continue processing the bank’s consumer card portfolio.

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Pimco renews State Street outsourcing deal

State Street Corporation (STT) announced today that it has been reappointed by PIMCO to provide investment manager services outsourcing in support of $1.55 trillion in assets under management.

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Atos scores long term Aegon contract

Industry leading digital services company, Atos UK&I, today announced it has secured a thirteen year contract with life and pensions provider Aegon to deliver its protection business processes.

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FCA fines Aviva over shoddy outsourcing oversight

The Financial Conduct Authority (FCA) has today fined Aviva Pension Trustees UK Limited and Aviva Wrap UK Limited (together Aviva) £8,246,800 for failings in its oversight of its outsourced providers in relation to the protection of client assets.

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Over half of financial institutions look to outsource tax services

Research conducted by SIX Securities Services has revealed that as financial institutions become increasingly capital constrained, almost a third (32%) are looking to outsourcing as a way to reduce costs.

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ING-Diba outsources ATM network management to NCR

NCR Corporation (NYSE: NCR), a global leader in omni-channel solutions, announced today that it is now running and managing ING-DiBa Germany’s entire ATM network.

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QIIB signs managed services contract with NCR

Qatar International Islamic Bank (QIIB), one of the leading banks in Qatar, announced today that it has chosen NCR, a global leader in omni-channel technologies to monitor and manage QIIB’s ATM network for several years, helping the bank to improve efficiency and reduce operational costs.

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MainstreamBPO to acquire New York based hedge fund administrator Fundadministration, Inc.

Fund administration provider MainstreamBPO Limited group (ASX: MAI) has announced to the ASX the execution of an agreement to acquire New York based hedge fund administration business Fundadministration, Inc.

/Outsourcing

Lloyds renews Tsys processing deal

Tsys (TSS) today announced that Lloyds Banking Group, the UK's leading provider of current accounts, savings, personal loans, credit cards and mortgages, has renewed its agreement with Tsys to continue to process the bank’s UK commercial card portfolio.

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Al Taif Group, Iraq, signs with Covalent for outsourced card and payment processing

On the side lines of the biggest payments events of the region, Cards & Payments Middle East in Dubai, Al Taif Money Transfer Co (TMT), a subsidiary of Al Taif Group Iraq signed up Covalent (supported by UnionPay International - Al Taif Official Payroll Payment Card Solution), a Joint Venture of TPS and Access Group for powering up their entire Cards & Payments Infrastructure.

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Tieto and Sparbanken Syd sign outsourcing agreement for securities business

Tieto has signed an agreement with Sparbanken Syd for the bank’s securities business. The agreement is valid for five years and covers IT systems, operations and back office services.

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Chase Bank Kenya migrates card portfolio to OpenWay's Way4 platform

Chase Bank Kenya, an innovative and fast-growing bank with an ambitious strategy across Africa, has successfully migrated its full card portfolio to the WAY4 payment software platform from Electra Card System.

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Northern Trust enhances servicing for private equity

In response to increased demand for outsourced alternative asset administration, Northern Trust announced today enhancements to its private equity support with the launch of its capital call execution service.

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IBM inks maintenance deal with Indian white label ATM operator

IBM (NYSE:IBM) today announced that it has entered into a seven year strategic relationship with BTI Payments Private Ltd, India’s fastest growing White Label ATM (WLA) operator, to transform its IT Infrastructure. BTI Payments, which runs over 3000 “India1” branded White Label ATMs will leverage IBM’s managed services solution to deploy and manage an incremental 4,000 Automated Teller Machines (ATM) across the country.

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Nationwide extends BT networking deal

BT today announced that it has won a six-year contract with Nationwide, the world’s largest building society, to continue to provide the network infrastructure underpinning its digital transformation strategy.

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LBBW transfers management of more than 700 branch systems to Wincor Nixdorf

Landesbank Baden Württemberg (LBBW) has commissioned Wincor Nixdorf to take over central operations management of its branch systems – consisting of automated teller machines, cash recyclers, self-service terminals and automated teller safes – to ensure more efficient self-service and higher system availability.

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DNB Bank awards five-year application outsourcing deal to Infosys

Infosys (INFY), a global leader in consulting, technology, outsourcing and next-generation services, today announced that it has won a contract to transform the application landscape of DNB Bank of Norway.

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Tieto and ICA Banken sign outsourcing agreement for securities business

Tieto has signed a five-year outsourcing agreement with ICA Banken for operations, system and back office services for the bank’s securities business.

/Outsourcing

Freedom Credit Union selects Symitar

Jack Henry & Associates, Inc. (JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its Symitar® division announced today that Freedom Credit Union has selected EASE™, the outsourced delivery model of the Episys® core processing system.

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Deutsche Bank awards application development and maintenance services contract to HCL Technologies

HCL Technologies (HCL), a leading global IT services provider, today announced that it has signed an Application Development and Maintenance contract with Deutsche Bank.

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