Outsourcing

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Portrait to buy Norwegian CRM outfit Million Handshakes

/Outsourcing

Portrait to buy Norwegian CRM outfit Million Handshakes

UK CRM vendor Portrait Software has agreed terms to acquire Million Handshakes, a Norway-based provider of outbound campaign management and marketing software.

TietoEnator rejects EUR1.1bn bid

/Outsourcing

TietoEnator rejects EUR1.1bn bid

Nordic IT services firm TietoEnator has rejected an unsolicited EUR1.1 billion takeover bid from private equity outfit Cidron Services as too low.

Indian fintech vendors battered again

/Outsourcing

Indian fintech vendors battered again

Continuing market volatility resulted in Indian fintech stocks taking a bath last week, further depressing the Finextra50 stock index.

Finextra opens registration for new outsourcing conference

/Outsourcing

Finextra opens registration for new outsourcing conference

Finextra has opened registration for a new one-day conference which will explore the challenges - and opportunities - for financial firms looking to optimise their current outsourcing arrangements and seek new geographies and business and operational areas, that could benefit from a more strategic sourcing approach.

Banks to shift more IT offshore - Infosys

/Outsourcing

Banks to shift more IT offshore - Infosys

US and European financial institutions will look to shift more technology operations offshore as budgets are squeezed following last year's credit crisis, according to the head of India's Infosys Technologies.

Cashcard awards ITS A$250m ATM contract

/Outsourcing

Cashcard awards ITS A$250m ATM contract

Australian ATM operator Cashcard has signed a five year contract, worth A$250 million, with Sydney-based ITS for the supply and maintenance of 6000 Wincor Nixdorf cash machines.

Merrill Lynch hires Sanzone as chief administrative officer

/Outsourcing

Merrill Lynch hires Sanzone as chief administrative officer

Merrill Lynch has hired Thomas Sanzone - currently chief information officer (CIO) at Credit Suisse - to oversee its global technology, operations and corporate services groups.

IT vendor management increasingly important to banks - study

/Outsourcing

IT vendor management increasingly important to banks - study

More effective IT vendor management could save banks between 10% and 30% of their technology expenditure according to a US study conducted by Silicon Valley-based research firm The FactPoint Group for ITM Software.

Swedbank awards five-year outsourcing deal to LogicaCMG group company

/Outsourcing

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.

TietoEnator banking and insurance president departs

/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.

Citi shelves sale of Indian BPO unit - report

/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.

Deutsche Bank acquires hedge fund administrator HedgeWorks

/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.

IBM inks NAB outsourcing deal

/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.

VocaLink to manage HSBC ATMs in convenience stores

/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.

Atos Origin inks LV= IT outsourcing deal

/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.

Atos Origin inks BNP Paribas outsourcing deal

/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.

TietoEnator outlines EUR100m cost cutting plan

/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.

OMX reports Tocom trading technology contract

/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).

IBM inks EUR42.3m Cajasol IT services deal

/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.

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

/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.

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