Outsourcing

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Co-op and Steria offshoring move prompts industrial action threat

/Outsourcing

Co-op and Steria offshoring move prompts industrial action threat

French IT services firm Steria is facing the threat of strike action by workers in Northern England over the offshoring of outsourced Co-operative Bank jobs.

ANZ to shift more jobs offshore after reporting first fall in profit for a decade

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ANZ to shift more jobs offshore after reporting first fall in profit for a decade

ANZ has warned of more job cuts and an expansion of its offshoring programme after reporting its first annual profit fall in 10 years.

Fintech stocks steady

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Fintech stocks steady

The Finextra50 Financial Technology Index rose 1.3% to 55.59 last week driven by decent bounces for many fintech stocks including Temenos and Mphasis after the previous week's market wreckage. But others, such as Oracle Financial Services Solutions, continued to plummet in value.

Morse hit by Lehman charge

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Morse hit by Lehman charge

UK IT services group Morse says it will record a £500,000 charge in the third quarter relating to the collapse of US investment bank Lehman Brothers.

Wall Street Systems launches post-trade processing utility

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Wall Street Systems launches post-trade processing utility

Wall Street Systems has launched a "pay as you go" post-trade processing utility for FX cash, FX derivatives, money markets, vanilla interest rate derivatives, and listed futures and options.

TCS to buy Citi Indian BPO unit for $505m

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TCS to buy Citi Indian BPO unit for $505m

Tata Consultancy Services (TCS) has confirmed that it will acquire Citi's captive Indian back office division for a cash consideration of $505 million.

Nomura to buy Lehman Indian BPO operations

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Nomura to buy Lehman Indian BPO operations

Japanese securities firm Nomura says it will acquire the Indian back office and technology operations of bankrupt Lehman Brothers. Financial terms of the agreement were not disclosed.

IBM to develop common call centre system for three Japanese banks

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IBM to develop common call centre system for three Japanese banks

IBM has signed agreements with Chiba Bank, Daishi Bank and Hokkoku Bank for the development of a call centre system that will be used by all three Japanese firms.

Hbos looking to offshore 2000 tech jobs - report

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Hbos looking to offshore 2000 tech jobs - report

British banking group Hbos - which is set to be taken over by Lloyds TSB - is planning to offshore around 2000 UK-based IT jobs to centres in India, according to press reports.

Crunch to hit Indian BPO industry but opportunities await

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Crunch to hit Indian BPO industry but opportunities await

India's BPO firms will be hit by the current global economic turmoil over the next few months but could be well placed to take advantage of the crisis in the longer term, says the National Association of Software and Service Companies (Nasscom).

Barclays to hire 1500 IT staff in Singapore

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Barclays to hire 1500 IT staff in Singapore

Despite the fall out from the credit crunch, UK banking group Barclays is planning to add 1500 staff to its newly-established technology facility in Singapore over the next five years.

Euroclear signs for BT managed security services

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Euroclear signs for BT managed security services

European depository Euroclear has signed a three year deal with UK telco BT for the provision of security monitoring and management services.

Wincor Nixdorf takes majority stake in Bankberatung

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Wincor Nixdorf takes majority stake in Bankberatung

Wincor Nixdorf has acquired a 51% stake in Bankberatung, a provider of IT consultancy and services to German retail banks. Financial terms of the deal were not disclosed.

Lloyds TSB told to ditch offshoring

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Lloyds TSB told to ditch offshoring

Lloyds TSB should be forced to halt all offshoring programmes in return for government support for its takeover of Hbos, according to a union representing thousands of staff at the bank.

Fundtech Q3 earnings hit by Lehman-related charge

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Fundtech Q3 earnings hit by Lehman-related charge

US financial technology vendor Fundtech says it will record a charge in the third quarter of up to $600,000 relating to the bankruptcy of Lehman Brothers.

Polish Central Securities Depository signs for Microsoft BizTalk Server

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Polish Central Securities Depository signs for Microsoft BizTalk Server

The Polish National Depository for Securities (KDPW) is implementing Microsoft's BizTalk Server for Swift as its enterprise financial messaging platform and will use the technology for the transport, management and exchange of Swift transactions.

SIA-SSB wins Austrian cards contract; plans Warsaw, Moscow offices

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SIA-SSB wins Austrian cards contract; plans Warsaw, Moscow offices

Sinsys, a majority-owned subsidiary of SIA-SSB, has won a five-year card issuing processing contract with Austria's PayLife Bank.

HSBC offers 'plug-and-play' outsourced payments processing

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HSBC offers 'plug-and-play' outsourced payments processing

HSBC has launched a 'plug-and-play' outsourced payments system for corporates and banks looking to ease back office connectivity issues and lower the ongoing fixed costs associated with managing their own transaction processing activities.

RBS launches Swift service bureau for corporates

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RBS launches Swift service bureau for corporates

Royal Bank of Scotland has launched a Swift service bureau for corporates that require an outsourced service for connecting to the interbank network.

Banks cut IT budgets as crunch bites - Forrester

/Outsourcing

Banks cut IT budgets as crunch bites - Forrester

Nearly half of US and European financial services firms have cut their technology budgets this year due to the economic crisis, according to a survey from Forrester Research.

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