Latest Outsourcing News: Finextra Research

Swedbank awards five-year outsourcing deal to LogicaCMG group company

WM-data has won a five-year contract for Swedbank's IT development and applications management. As part of the agreement, LogicaCMG will set up a dedicated centre for the bank within its operations in Bangalore, India.

25 February 2008

News/Outsourcing

TietoEnator banking and insurance president departs

Nordic IT services vendor TietoEnator says Matti Viljo, the president of its banking and insurance unit is leaving the company "by mutual agreement", along with group chief financial officer Timo Salmela.

18 February 2008

News/Outsourcing

Citi shelves sale of Indian BPO unit - report

US banking giant Citigroup has temporarily halted the sale of its business process outsourcing (BPO) unit in India, according to local press reports.

05 February 2008

News/Outsourcing

Deutsche Bank acquires hedge fund administrator HedgeWorks

Deutsche Bank has acquired HegeWorks, a California-based provider of hedge fund administration services. Financial terms of the deal were not disclosed.

01 February 2008

News/Outsourcing

IBM inks NAB outsourcing deal

National Australia Bank (NAB) has signed a three year outsourcing agreement with IBM for the management of its desktop and service desk IT infrastructure. The deal includes the provision of desktop support services for 28,000 bank employees.

23 January 2008

News/Outsourcing

VocaLink to manage HSBC ATMs in convenience stores

UK transaction processing outfit VocaLink has won a three year deal to operate HSBC's new remote estate of free-to-use cash machines which will be located convenience stores across the country.

18 January 2008

News/Outsourcing

Atos Origin inks LV= IT outsourcing deal

UK insurance firm LV=, formally known as Liverpool Victoria, has contracted with Paris-listed IT services firm Atos Origin for the management of its mainframe and mid-range infrastructure.

17 January 2008

News/Outsourcing

Atos Origin inks BNP Paribas outsourcing deal

Paris-listed Atos Origin has won a five-year contract, worth £50 million, to provide outsourced technology services to French banking group BNP Paribas.

09 January 2008

News/Outsourcing

TietoEnator outlines EUR100m cost cutting plan

Nordic IT services vendor TietoEnator is embarking on a restructuring and cost cutting programme designed to generate annual savings of more than EUR100 million by the end of 2009.

03 January 2008

News/Outsourcing

OMX reports Tocom trading technology contract

Swedish technology group and exchange operator OMX has inked a deal to supply an integrated trading and clearing platform for commodity derivatives to the Tokyo Commodity Exchange (Tocom).

19 December 2007

News/Outsourcing

IBM inks EUR42.3m Cajasol IT services deal

IBM is reporting a EUR42.3 million IT outsourcing contract with Cajasol, the Spanish savings bank formed by the merger of Caja San Fernando and El Monte.

17 December 2007

News/Outsourcing

NAB to offshore maintenance and support of legacy platforms; sets up cyber crime unit

National Australia Bank (NAB) is outsourcing maintenance, management and support of some legacy systems to Indian offshore providers Infosys and Satyam in a move that has implications for around 300 IT staff at the bank.

14 December 2007

News/Outsourcing

Nyse Euronext to buy out IT JV; bring technology back in-house

Nyse Euronext says it has agreed in principle to buy Atos Origin's stake in the Atos Euronext Market Solutions (AEMS) joint venture, in a move that will bring its technology operations back in-house.

12 December 2007

News/Outsourcing

UK bank IT spending to rise

Despite the implications of this year's global credit crunch, UK bank expenditure on software and IT services is set to grow at a compound annual growth rate of 7.7% between 2007 and 2011, according to a study by European research outfit Pierre Audoin Consultants.

07 December 2007

News/Outsourcing

Deutsche Bank to open new Indian operations centre

Deutsche Bank has signed a letter of intent to set up an offshore operations centre in Jaipur, India.

06 December 2007

News/Outsourcing

Banks give cautious welcome to new VAT regime; outsourcing set to benefit

Bank lobby groups have given a guarded welcome to European Commission proposals for a Directive aimed at simplifying the current VAT regime for financial and insurance services.

29 November 2007

News/Outsourcing

Nyse Euronext and Atos Origin to dismantle IT JV - reports

Nyse Euronext and Atos Origin are in talks that could result in the dismantling of their Atos Euronext Market Solutions IT services joint venture.

27 November 2007

News/Outsourcing

BNP Paribas to provide post-trade processing for Nyfix dark liquidity ATS

French banking group BNP Paribas has agreed a deal to provide pan-European post trade services for Nyfix's Euro Millennium, an off-exchange trading system for listed cash equities that is expected to launch in early 2008.

26 November 2007

News/Outsourcing

NAB looking to move 400 IT jobs offshore - reports

National Australia Bank (NAB) is considering shifting a further 400 technology jobs to offshore service providers in India, according to press reports.

21 November 2007

News/Outsourcing

Detica reports 'sharp decline' in business from banks

Shares in UK business and technology group Detica slumped after it reported a "sharp decline" in business from investment banks towards the end of its first half following the global credit crunch.

19 November 2007