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

National Bank Financial renews IBM IT management deal

Canada's National Bank Financial Group has agreed a seven year extension, worth C$450 million, to its IT infrastructure management deal with IBM.

16 April 2009

News/Outsourcing

Tech Mahindra wins Satyam bid

Tech Mahindra, an Indian IT firm part owned by BT, has won the bidding to buy a 51% stake in fraud-hit Satyam Computer Services for around $579 million.

14 April 2009

News/Outsourcing

B&B outsources credit risk to Euristix

State-owned Bradford & Bingley (B&B) has outsourced its credit risk management to London-based consultancy Euristix as it winds down its mortgage business.

08 April 2009

News/Outsourcing

Tieto outline another 620 job cuts

Just months after outlining plans to axe 350 jobs, recession hit Scandinavian IT services vendor Tieto says it has begun the process of cutting a further 620 positions.

07 April 2009

News/Outsourcing

Thomson Reuters wins multi-million dollar Manulife outsourcing deal

Thomson Reuters has inked a multi-million dollar investment management outsourcing support deal with Canada's Manulife Financial Corporation (MFC).

30 March 2009

News/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.

27 March 2009

News/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.

25 March 2009

News/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.

25 March 2009

News/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.

24 March 2009

News/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.

24 March 2009

News/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.

23 March 2009

News/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.

16 March 2009

News/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.

11 March 2009

News/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.

03 March 2009

News/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.

26 February 2009

News/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.

19 February 2009

News/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.

18 February 2009

News/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".

16 February 2009

News/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.

11 February 2009

News/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.

05 February 2009