Outsourcing

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Xchanging names HVB man Sohler head of European financial services

/Outsourcing

Xchanging names HVB man Sohler head of European financial services

Xchanging, a UK-based provider of back office processing services, has appointed former HypoVereinsbank (HVB) COO Matthias Sohler as head of European financial services.

Metavante looks for buyer for Indian BPO Firstsource stake - FT

/Outsourcing

Metavante looks for buyer for Indian BPO Firstsource stake - FT

US technology group Metavante has appointed Goldman Sachs to find a buyer for its 20% stake in Indian BPO venture Firstsource, according to the Financial Times.

IBM strike to hit Westpac e-banking

/Outsourcing

IBM strike to hit Westpac e-banking

Users of Westpac's online banking services will face disruption later this week when IBM technical support staff begin strike action, warns the Australian Services Union.

Tata leads race to buy Citi BPO - Economic Times

/Outsourcing

Tata leads race to buy Citi BPO - Economic Times

Tata Consultancy looks set to edge out IBM in the bidding for Citi's captive Indian back office unit, according to the Economic Times.

Bank job losses caused by restructuring, not offshoring - Deutsche Bank

/Outsourcing

Bank job losses caused by restructuring, not offshoring - Deutsche Bank

Internal restructuring has resulted in banks shedding far more staff than the outsourcing of functions to offshore centres, according to a European study by Deutsche Bank.

Job cuts loom as Barclays ends Siemens BPO contract

/Outsourcing

Job cuts loom as Barclays ends Siemens BPO contract

Around 500 UK back office staff are facing redundancy following a decision by Barclays not to renew a business process outsourcing (BPO) contract with Siemens.

Norwich Union set to cut 500 operations jobs

/Outsourcing

Norwich Union set to cut 500 operations jobs

UK insurer Norwich Union is set to axe up to 500 operations jobs at its York offices and transfer the work to third party suppliers.

Banco Espírito Santo expands IBM IT outsourcing contract

/Outsourcing

Banco Espírito Santo expands IBM IT outsourcing contract

Portugal's Banco Espírito Santo (BES) has expanded its IT outsourcing contract with IBM to cover the bank's entire midrange infrastructure.

India's HCL to acquire Liberata Financial Services

/Outsourcing

India's HCL to acquire Liberata Financial Services

Indian IT systems house HCL Technologies is to acquire the fixed assets of UK life and pensions outsourcer Liberata Financial Services for $2 million.

Visa Europe migrates to new BT network

/Outsourcing

Visa Europe migrates to new BT network

Visa Europe is migrating its transaction network onto BT's IP-based 21CN Global Network under a five year managed services deal.

Thailand's Thanachart signs IT services deal with IBM

/Outsourcing

Thailand's Thanachart signs IT services deal with IBM

Thailand's Thanachart Bank has inked a seven year, $60 million, information technology outsourcing services deal with IBM.

Aviva sells BPO unit to WNS

/Outsourcing

Aviva sells BPO unit to WNS

Insurance group Aviva has sold its offshoring operations to Indian business process outsourcing (BPO) firm WNS in a £115 million cash deal.

IBM wins Banco Fondo Comun IT outsourcing deal

/Outsourcing

IBM wins Banco Fondo Comun IT outsourcing deal

Venezuela's Banco Fondo Comun (BFC) has inked a five year information technology services deal with IBM.

Lender Processing Services joins the Finextra50 index

/Outsourcing

Lender Processing Services joins the Finextra50 index

Lender Processing Services (LPS), the subsidiary spun off in a separate NYSE listing by Fidelity National Information Services last week, has entered the Finextra50 Financial Technology Index. The index fell .8% to 80.92 in a short week for US markets. The Innovation Group saw the biggest gain while Bravura led the losers.

SunGard buys Ireland's Delphi Technologies

/Outsourcing

SunGard buys Ireland's Delphi Technologies

Fintech powerhouse SunGard has acquired Delphi Technologies, an Ireland-based provider of IT consulting and professional services to banks, insurers and telcos. Financial terms of the deal were not disclosed.

Nationwide outsources IT networks to BT

/Outsourcing

Nationwide outsources IT networks to BT

The UK's Nationwide Building Society is outsourcing the management of its networked IT services to BT under a seven year, £160 million deal.

Citi looking to sell Indian BPO and tech units - report

/Outsourcing

Citi looking to sell Indian BPO and tech units - report

Citigroup is looking to restructure its Indian back office operations and put its BPO and technology divisions up for sale, according to local press reports which cite IBM as the "lead contender" for the assets.

EDB sells Swedish unit to BancTec

/Outsourcing

EDB sells Swedish unit to BancTec

Nordic IT services group EDB Business Partner is selling its Swedish subsidiary Inndata to US BPO vendor BancTec. Financial terms of the deal were not disclosed.

Crunch to spur IT outsourcing - study

/Outsourcing

Crunch to spur IT outsourcing - study

Hit by the credit crunch, banks are looking to outsource operations as a way of deferring investment in their technology infrastructures, according to research from business advisory outfit EquaTerra.

HSBC creates 250 call centre jobs

/Outsourcing

HSBC creates 250 call centre jobs

UK banking group HSBC is creating 250 call centre jobs over the next two years at its operations in Newport, Wales, but will outsource work currently handled by the unit to outside firms.

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