Finextra Research: Latest fintech news, analysis, interviews, features and opinion by industry experts

EDB and ErgoGroup in merger talks

Nordic IT services groups EDB Business Partner and ErgoGroup are in talks over a possible merger.

01 June 2010

Speculation mounts over Infosys bid for Logica

UK IT services group Logica could be the subject of a £2.9 billion bid from Indian giant Infosys, according to the Daily Mail.

21 May 2010

News/Outsourcing

RBS to shed 2600 jobs; 500 roles to be shipped offshore

The Royal Bank of Scotland is to cut a further 2600 jobs from its UK insurance and retail banking arms, bringing the total number of job losses at the Edinburgh-based bank to 22,600 since the onset of the financial crisis.

10 May 2010

News/Outsourcing

KKR in talks to buy Firstsource majority stake - Reuters

American private equity giant Kohlberg Kravis Roberts & Co (KKR) is in negotiations to buy a controlling stake in Indian BPO outfit Firstsource from ICICI Bank, Metavante and Temasek, according to Reuters.

13 April 2010

News/Outsourcing

Nordea inks five year Web application outsourcing deal with Accenture

Nordea has inked a five year outsourcing contract with Accenture for the development and maintenance of applications to support the Scandinavian bank's Web sites. Financial terms of the deal were not disclosed.

07 April 2010

News/Outsourcing

Union calls on government to protect jobs as ANZ shifts more work overseas

Australia and New Zealand Bank (ANZ) is to shift more work overseas with the opening of a new back office processing centre in the Philippines that will employ 300 local staff.

06 April 2010

News/Outsourcing

SIA-SSB reports Bank of Italy contract win

Bank of Italy has awarded SIA-SSB a five year, EUR23 million, contract to manage its interbank computerised archive of bad cheques and payment cards.

10 March 2010

News/Outsourcing

St George customers sent wrong statements after vendor blunder

Up to 42,000 St George Bank customers have been sent printed statements containing the account information of other people after a "production issue" at vendor Salmat.

04 March 2010

News/Outsourcing

Wipro snatches multi-million dollar PSB outsourcing contract from Satyam

India's Punjab and Sind Bank (PSB) has handed a $21 million ten-year IT integration project to Wipro after dissolving an earlier contract with Satyam Computer Services.

25 February 2010

News/Outsourcing

Deutsche Börse plans lay-offs and outsourcing as income dips

German exchange operator Deutsche Börse has outlined plans to save EUR50 million through an unspecified number of job cuts and outsourcing initiatives after reporting a EUR33 million net loss for the fourth quarter.

17 February 2010

News/Outsourcing

Deutsche Börse mulling staff cuts, outsourcing - Handelsblatt

Deutsche Börse is to cut up to 10% of its 3,300-strong workforce as it bids to lower costs in the face of strong competition, according to a report in German business daily Handelsblatt.

28 January 2010

News/Outsourcing

Nyse signs Citi as first client for global market data admin service

Citi is to be the first customer for Nyse Technologies' new market data administration service, developed in collaboration with consultancy Jordan & Jordan.

25 January 2010

News/Outsourcing

Barclays to bring IT back inhouse as Accenture outsourcing deal expires

Barclays has decided not to renew a six-year, £400 million IT outsourcing contract with Accenture when it expires in June, taking the work back in-house.

11 January 2010

News/Outsourcing

BNY Mellon Asset Servicing establishes outsourcing group

The Bank of New York Mellon's asset servicing division has set up a dedicated global outsourcing group led by Lou Maiuri, CEO and chairman of Eagle Investment Systems.

15 December 2009

News/Outsourcing

State Street to acquire Mourant fund admin business

State Street is expanding its global fund administration and alternative servicing capabilities with an agreement to acquire Jersey-based Mourant International Finance Administration (MIFA) in a cash transaction. Terms of the deal, which is expected to close in Q1 2010, were not disclosed.

01 December 2009

News/Outsourcing

Credit Agricole and Equens in payment processing 'merger' talks

France's Credit Agricole has signed an agreement to "explore the possibility" of merging its card and payment processing operations with Equens.

25 November 2009

News/Outsourcing

More jobs to go at Lloyds as Equitable Life shifts business to HCL

More jobs are set to go at Lloyds as UK insurance house Equitable Life announces plans to transfer its outsourced policy administration business from the UK banking group to Indian IT firm HCL.

23 November 2009

News/Outsourcing

Samlink signs EUR55 million IT services deal with IBM

IBM has signed a seven-year, EUR55 million strategic outsourcing agreement with Finnish IT banking service provider Samlink.

17 November 2009

News/Outsourcing

Union calls on UK Border Agency to investigate Lloyds' use of Indian IT contractors

Lloyds Banking Group Union (LTU) is calling on the UK's Border Authorities to investigate the bank's use of Indian IT contractors on homegrown projects.

12 November 2009

News/Outsourcing

Firstsource stakeholders look to sell up - Reuters

ICICI Bank, US technology group Metavante and Singapore state investor Temasek have revived plans to sell their stakes in Indian BPO venture Firstsource, according to Reuters.

09 November 2009