Outsourcing

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Raiffeisen International outsources core banking development to Misys/HCL

/Outsourcing

Raiffeisen International outsources core banking development to Misys/HCL

Raiffeisen International is to outsource development and support of its core banking technology to Misys and Indian outsourcer HCL Technology.

Online start-up Ivobank contracts with Pasporte for hosted IT services

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Online start-up Ivobank contracts with Pasporte for hosted IT services

Ivobank, the London-based online bank launched earlier this year, has signed a five year managed services contract with information and communication technology outsourcing specialist Pasporte.

Co-op tech workers vote to strike over offshoring

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Co-op tech workers vote to strike over offshoring

Outsourced Co-operative Bank staff working at French IT services firm Steria in the UK have voted to go on strike over the offshoring of their jobs to India.

BNP Paribas sets up Indian BPO joint venture

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BNP Paribas sets up Indian BPO joint venture

BNP Paribas Securities Services is to set up a back office processing joint venture in India with Sundaram Business Services, the business process outsourcing arm of financial conglomerate Sundaram Finance.

Wipro leads race to bag Citi Indian tech arm - Economic Times

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Wipro leads race to bag Citi Indian tech arm - Economic Times

Citigroup is reportedly in talks to sell its Indian IT and infrastructure outsourcing arm, Citi Global Services, with Wipro emerging as the frontrunner to buy the business.

Bank bail-outs to hit IT spending and offshoring - TowerGroup

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Bank bail-outs to hit IT spending and offshoring - TowerGroup

The UK Government's £50 billion banking recapitalisation programme will split the industry in two, with important implications for technology spending, offshoring and non-banking competition, according to an analysis by TowerGroup.

Penson Worldwide faces $25m loss on exposure to failed Canadian broker

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Penson Worldwide faces $25m loss on exposure to failed Canadian broker

Shares in clearing, settlement and technology service provider Penson Worldwide have lost more than 39% after the company reported today that it has $25 million in exposure to Evergreen Capital Partners Inc., which has ceased operations.

Liffe to self-clear from Q1 next year

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Liffe to self-clear from Q1 next year

To terminate its LCH.Clearnet clearing contract the London-based derivatives exchange owned by Nyse Euronext will make a one-time payment of EUR260 million.

Co-op and Steria offshoring move prompts industrial action threat

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Co-op and Steria offshoring move prompts industrial action threat

French IT services firm Steria is facing the threat of strike action by workers in Northern England over the offshoring of outsourced Co-operative Bank jobs.

ANZ to shift more jobs offshore after reporting first fall in profit for a decade

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ANZ to shift more jobs offshore after reporting first fall in profit for a decade

ANZ has warned of more job cuts and an expansion of its offshoring programme after reporting its first annual profit fall in 10 years.

Fintech stocks steady

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Fintech stocks steady

The Finextra50 Financial Technology Index rose 1.3% to 55.59 last week driven by decent bounces for many fintech stocks including Temenos and Mphasis after the previous week's market wreckage. But others, such as Oracle Financial Services Solutions, continued to plummet in value.

Morse hit by Lehman charge

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Morse hit by Lehman charge

UK IT services group Morse says it will record a £500,000 charge in the third quarter relating to the collapse of US investment bank Lehman Brothers.

Wall Street Systems launches post-trade processing utility

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Wall Street Systems launches post-trade processing utility

Wall Street Systems has launched a "pay as you go" post-trade processing utility for FX cash, FX derivatives, money markets, vanilla interest rate derivatives, and listed futures and options.

TCS to buy Citi Indian BPO unit for $505m

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TCS to buy Citi Indian BPO unit for $505m

Tata Consultancy Services (TCS) has confirmed that it will acquire Citi's captive Indian back office division for a cash consideration of $505 million.

Nomura to buy Lehman Indian BPO operations

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Nomura to buy Lehman Indian BPO operations

Japanese securities firm Nomura says it will acquire the Indian back office and technology operations of bankrupt Lehman Brothers. Financial terms of the agreement were not disclosed.

IBM to develop common call centre system for three Japanese banks

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IBM to develop common call centre system for three Japanese banks

IBM has signed agreements with Chiba Bank, Daishi Bank and Hokkoku Bank for the development of a call centre system that will be used by all three Japanese firms.

Hbos looking to offshore 2000 tech jobs - report

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Hbos looking to offshore 2000 tech jobs - report

British banking group Hbos - which is set to be taken over by Lloyds TSB - is planning to offshore around 2000 UK-based IT jobs to centres in India, according to press reports.

Crunch to hit Indian BPO industry but opportunities await

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Crunch to hit Indian BPO industry but opportunities await

India's BPO firms will be hit by the current global economic turmoil over the next few months but could be well placed to take advantage of the crisis in the longer term, says the National Association of Software and Service Companies (Nasscom).

Barclays to hire 1500 IT staff in Singapore

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Barclays to hire 1500 IT staff in Singapore

Despite the fall out from the credit crunch, UK banking group Barclays is planning to add 1500 staff to its newly-established technology facility in Singapore over the next five years.

Euroclear signs for BT managed security services

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Euroclear signs for BT managed security services

European depository Euroclear has signed a three year deal with UK telco BT for the provision of security monitoring and management services.

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