Outsourcing

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Finextra opens registration for Finexpo - Outsourcing Strategies

/Outsourcing

Finextra opens registration for Finexpo - Outsourcing Strategies

Finextra has opened registration for a one-day conference on 4 June that will look at how the ongoing financial crisis is affecting the globalisation of business models, organisational structure, technology and operations in banking and financial markets.

SmartStream unveils new CEO, launches on-demand recs service

/Outsourcing

SmartStream unveils new CEO, launches on-demand recs service

Philippe Chambadal, head of DIFC Investment's acquisition vehicle DClear, has taken the reins at SmartStream after Ken Archer stepped down in February. DClear became SmartStream's parent company in November 2007 when DIFC stepped in to acquire the vendor after its aborted IPO. Chambadal's first major task as CEO has been overseeing the development and launch of a software-as-a-service (SaaS)-based delivery model for the company's TLM Reconciliations product.

Banco Santander awards Accenture EUR100m integration contract

/Outsourcing

Banco Santander awards Accenture EUR100m integration contract

Spain's Banco Santander has inked a two-year, EUR100 million deal with technology consultancy Accenture as it looks to integrate the various IT systems recently inherited through a spate of acquisitions.

HP reports $50m Shinhan Bank deal

/Outsourcing

HP reports $50m Shinhan Bank deal

Hewlett Packard (HP) has signed a $50 million technology contract with Korea's Shinhan that will involve the sale and leaseback of the bank's IT assets.

Unisys wins BMO Financial Group server systems deal

/Outsourcing

Unisys wins BMO Financial Group server systems deal

Canada's BMO Financial Group has awarded Unisys a four year contract for the provision of mainframe-class server systems and related support services.

SS&C buys financial data hub Evare

/Outsourcing

SS&C buys financial data hub Evare

Connecticut-based fintech vendor SS&C Technologies has acquired Evare, a managed service provider for financial data acquisition, transformation and delivery. Financial terms of the deal were not disclosed.

ANZ refutes offshoring claims

/Outsourcing

ANZ refutes offshoring claims

ANZ has refuted reports that it is to axe 500 Australian back office and technology jobs and shift the workload to its offshore centre in Bangalore.

Payzone sued by Welcome Break in ATM row

/Outsourcing

Payzone sued by Welcome Break in ATM row

Ireland's Payzone has confirmed it is being sued by UK motorway service station operator Welcome Break in a dispute over ATM maintenance targets and charges made to customers for cash machine withdrawals.

Aviva inks £700m data centre management deal with EDS

/Outsourcing

Aviva inks £700m data centre management deal with EDS

UK insurance group Aviva has inked a 10 year, £700 million contract with US IT services firm EDS for the management of two UK data centres.

Tieto to axe 350 jobs

/Outsourcing

Tieto to axe 350 jobs

Scandinavian IT services vendor Tieto has begun the process of axing around 350 staff in Northern Europe in a bid to weather the global economic storm.

SEB outsources Sepa direct debits processing to Equens

/Outsourcing

SEB outsources Sepa direct debits processing to Equens

Sweden's SEB is to outsource processing of Sepa direct debit transactions to European payment processor Equens.

IBM to deliver application testing services to Deutsche Bank

/Outsourcing

IBM to deliver application testing services to Deutsche Bank

IBM has been selected by Deutsche Bank to transform the integration testing part of its application service delivery for the Private & Business Clients and Global Banking business units.

Merrill to shift outsourcing contracts from Satyam to Tata - Economic Times

/Outsourcing

Merrill to shift outsourcing contracts from Satyam to Tata - Economic Times

Merrill Lynch is shifting a majority of its contracts from troubled Indian software firm Satyam Computer Services to rival Tata Consultancy Services, the Economic Times reports, citing "software industry sources familiar with the matter".

Morse reports heavy losses; sells off CSTIM

/Outsourcing

Morse reports heavy losses; sells off CSTIM

UK IT services group Morse is to discontinue its Investment Management Consulting business and restructure its operations after reporting a group-wide operating loss of £17.3 million for the six months ended 31 December 2008.

NAB suspends Satyam outsourcing plans - The Australian

/Outsourcing

NAB suspends Satyam outsourcing plans - The Australian

National Australia Bank is to put on hold plans to outsource more technology functions to troubled Indian IT services group Satyam.

BNY Mellon wins Invesco funds mandate

/Outsourcing

BNY Mellon wins Invesco funds mandate

BNY Mellon Asset Servicing has been appointed by Invesco to provide global custody, fund accounting and fund administration services for UK and offshore assets valued at over $50 billion.

AXA names Capita preferred bidder for £500m outsourcing deal

/Outsourcing

AXA names Capita preferred bidder for £500m outsourcing deal

French insurance group AXA has chosen Capita as preferred bidder for a pensions administration outsourcing contract worth £500 million, in a move union Unite says puts up to 350 UK jobs at risk.

IBM and BNP Paribas extend outsourcing joint venture to Italy's BNL

/Outsourcing

IBM and BNP Paribas extend outsourcing joint venture to Italy's BNL

IBM and BNP Paribas have signed a EUR318 million, six-year agreement for their existing joint venture, BP²I, to handle the IT infrastructure operations of the French bank's Italian subsidiary, Banca Nazionale del Lavoro (BNL).

Satyam loses State Farm Insurance contract

/Outsourcing

Satyam loses State Farm Insurance contract

Satyam Computer Services has had its IT outsourcing contract with US-based State Farm Insurance terminated in the wake of revelations about a $1 billion accounting fraud at the Indian firm.

Accenture wins Van Lanschot Bankiers outsourcing contract

/Outsourcing

Accenture wins Van Lanschot Bankiers outsourcing contract

Van Lanschot Bankiers has awarded Accenture a seven-year, multi-million dollar outsourcing contract to develop and maintain the Dutch bank's overall core banking applications, including credit services, asset and risk management.

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