Outsourcing

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India proposes tougher IT outsourcing rules for banks

/regulation

India proposes tougher IT outsourcing rules for banks

India's central bank, the Reserve Bank of India (RBI), is set to introduce new rules for IT outsourcing within the financial services sector.

/cloud

Finastra Managed Services arrives on AWS

Today Finastra announces the launch of Finastra Managed Services (FMS) on Amazon Web Services (AWS) to enable banks and financial institutions to access FMS in the AWS cloud.

/payments

BPC expands into the Americas and Caribbean

Leading global payments firm BPC today announced its expansion into the Americas to support the payments and processing needs of traditional financial institutions, payments processors and fintech firms.

/regulation

BNY Mellon Fund Services fined €10.8 million by Irish central bank over outsourcing arrangements

On 22 March 2022, the Central Bank of Ireland (the Central Bank) reprimanded and fined BNY Mellon Fund Services (Ireland) DAC (BNY DAC or the Firm) €10,780,000 pursuant to its Administrative Sanctions Procedure (the ASP) for 16 regulatory breaches relating to the outsourcing of fund administration activities.

/markets

Delta Capita acquires JDX Consulting

Delta Capita continues to strengthen its capability and accelerate growth with the acquisition of JDX Consulting.

/retail

CSE partners with CBI and Nexi for Open Banking development

CSE, leader in banking outsourcing, CBI, hub for technological innovation and digitalization in finance and Nexi, European leader in PayTech, sign a partnership enabling Payment Service Providers to offer a wider range of financial services to their clients over a unique interface.

FCA selects Aiimi’s Insight Engine for three year contract

/regulation

FCA selects Aiimi’s Insight Engine for three year contract

Following an extensive evaluation and Alpha testing phase, the FCA has selected UK data firm Aiimi’s Insight Engine to improve the regulator’s data analytics.

Money 20/20 EU: ‘A listing is for life, not just for Christmas’

/regulation

Money 20/20 EU: ‘A listing is for life, not just for Christmas’

Amsterdam: Finextra is on the ground at Money 20/20 Europe, attending a host of sessions to provide you with key highlights from the most popular sessions throughout the conference.

Westpac rolls back offshore outsourcing for customer facing contact roles

/retail

Westpac rolls back offshore outsourcing for customer facing contact roles

Westpac has brough over 1000 jobs back to Australia following a commitment in 2020 to roll back offshoring of customer facing contact roles.

/retail

Tesco Bank to transfer 200 debt collecting staff to Arrow Global in outsourcing deal

Arrow Global Group plc ("Arrow") and Tesco Bank have announced plans to transfer the collections and recoveries operations (Financial Assist) within Tesco Bank’s Customer Service division to Arrow.

Commerzbank faces €200m hit after ditching HSBC outsourcing deal

/markets

Commerzbank faces €200m hit after ditching HSBC outsourcing deal

Commerzbank will write off €200 million in the second quarter after deciding to abandon plans to outsource securities settlement to HSBC, citing "technical implementation risks".

/regulation

FCA finds weaknesses in some Host authorised fund management firms

Host AFMs are fund operators that delegate investment management to third party investment managers outside of their corporate group.

Successful strategies in adopting Hybrid Cloud in Financial Services

/Outsourcing

Successful strategies in adopting Hybrid Cloud in Financial Services

321 downloads

/wealth

Lifetri selects Caceis for outsourcing asset management middle and back office

The Dutch insurer Lifetri Group has selected Caceis for the outsourcing of the middle and back office of its asset management organisation.

/retail

Blackstone bids to take controlling interest in Mphasis

Blackstone (NYSE:BX) today announced that private equity funds managed by Blackstone have entered into definitive agreements to acquire a majority stake in Mphasis Limited (NSE: MPHASIS).

The Floor appoints former Citi exec Attar CTO

/people

The Floor appoints former Citi exec Attar CTO

The Floor, an Israeli AI-powered vendor management outfit for banks, has appointed former Citi executive Tsafrir Attar as chief technology officer.

/Outsourcing

M&G outsources middle office to State Street

State Street Corporation (NYSE: STT) today announced that it has been appointed by M&G Corporate Services Limited, part of M&G plc, (M&G) to provide outsourced middle office services.

/retail

Nationwide renews with TCS

Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, announced that it has renewed its strategic partnership and services footprint with Nationwide Building Society, the world’s largest building society and one of the largest savings and mortgage providers in the UK, to help strengthen the latter’s enterprise agility and operational resilience.

/regulation

DKB selects BearingPoint RegTech Factory and Abacus360 for regulatory reporting

Deutsche Kreditbank AG (DKB) will use the full-service offering of BearingPoint RegTech to meet its regulatory reporting requirements.

/wealth

SocGen Private Bank outsources international back office IT to Azqore

In a constant drive to improve the quality of service and user experience, Societe Generale signs with Azqore, a subsidiary of Indosuez Wealth Management, an agreement related to the execution of back-office operations and a large part of the IT services of Societe Generale Private Banking's international entities.

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