Latest Outsourcing News: Finextra Research

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

News/Outsourcing

BNY Mellon wins Invesco funds mandate

BNY Mellon Asset Servicing has been appointed by Invesco to provide global custody, fund accounting and fund administration services for UK and offshore assets valued at over $50 billion.

29 January 2009

News/Outsourcing

AXA names Capita preferred bidder for £500m outsourcing deal

French insurance group AXA has chosen Capita as preferred bidder for a pensions administration outsourcing contract worth £500 million, in a move union Unite says puts up to 350 UK jobs at risk.

22 January 2009

News/Outsourcing

IBM and BNP Paribas extend outsourcing joint venture to Italy's BNL

IBM and BNP Paribas have signed a EUR318 million, six-year agreement for their existing joint venture, BP²I, to handle the IT infrastructure operations of the French bank's Italian subsidiary, Banca Nazionale del Lavoro (BNL).

21 January 2009

News/Outsourcing

Satyam loses State Farm Insurance contract

Satyam Computer Services has had its IT outsourcing contract with US-based State Farm Insurance terminated in the wake of revelations about a $1 billion accounting fraud at the Indian firm.

19 January 2009

News/Outsourcing

Accenture wins Van Lanschot Bankiers outsourcing contract

Van Lanschot Bankiers has awarded Accenture a seven-year, multi-million dollar outsourcing contract to develop and maintain the Dutch bank's overall core banking applications, including credit services, asset and risk management.

13 January 2009

News/Outsourcing

Wipro banned from World Bank contracts

The reputation of India's IT services industry took another blow today after it emerged that Wipro has been barred from working for the World Bank, less than a month after it was revealed Satyam Computer Services has been blacklisted by the institution.

12 January 2009

News/Outsourcing

Icesave collapse prompts 150 redundancies at Newcastle Building Society

Newcastle Building Society has blamed the loss of a key outsourcing contract with failed Icelandic Internet bank Icesave, along with tough economic conditions, for its decision to make 150 staff redundant.

09 January 2009

News/Outsourcing

IBM reports Indian and Chinese bank contract wins

India's Kotak Mahindra Bank has inked a $5 million IT infrastructure services deal with IBM for the construction and maintenance of a green data centre and IP network infrastructure.

08 January 2009

News/Outsourcing

Satyam chief quits after admitting cooking the books

The founder and chairman of Indian outsourcer Satyam Computer Services, B Ramalinga Raju has resigned after admitting the company's profits have been falsely inflated for several years, leading to a $1 billion hole in the balance sheet.

07 January 2009

News/Outsourcing

Steria wins Capita outsourcing deal

Steria has won a five year deal with insurance outsourcer Capita Life & Pensions to provide offshore IT application development and support services for the company's clients.

07 January 2009

News/Outsourcing

Goldleaf sells core processing and teller business to IBT

Tennessee-based Goldleaf Financial Solutions has agreed to sell its core processing and teller automation systems to Integrated Bank Technology (IBT). Financial terms were not disclosed.

06 January 2009

News/Outsourcing

IBM wins Madhav Nagrik Sahakari Bank IT outsourcing deal

Madhav Nagrik Sahakari Bank, a co-operative in the Indian state of Rajasthan, has inked a five year IT outsourcing deal with IBM to support its move into Internet and mobile banking.

15 December 2008

News/Outsourcing

Fidelity puts Indian IT outsourcing unit on the block - Economic Times

US investment house Fidelity has put the IT support arm of its captive Indian back office business on the market, the Economic Times reports, citing two anonymous sources close to the sale process.

15 December 2008

News/Outsourcing