Latest Outsourcing News: Finextra Research

Aviva sells BPO unit to WNS

Insurance group Aviva has sold its offshoring operations to Indian business process outsourcing (BPO) firm WNS in a £115 million cash deal.

11 July 2008

News/Outsourcing

IBM wins Banco Fondo Comun IT outsourcing deal

Venezuela's Banco Fondo Comun (BFC) has inked a five year information technology services deal with IBM.

08 July 2008

News/Outsourcing

Lender Processing Services joins the Finextra50 index

Lender Processing Services (LPS), the subsidiary spun off in a separate NYSE listing by Fidelity National Information Services last week, has entered the Finextra50 Financial Technology Index. The index fell .8% to 80.92 in a short week for US markets. The Innovation Group saw the biggest gain while Bravura led the losers.

07 July 2008

News/Outsourcing

SunGard buys Ireland's Delphi Technologies

Fintech powerhouse SunGard has acquired Delphi Technologies, an Ireland-based provider of IT consulting and professional services to banks, insurers and telcos. Financial terms of the deal were not disclosed.

02 July 2008

News/Outsourcing

Nationwide outsources IT networks to BT

The UK's Nationwide Building Society is outsourcing the management of its networked IT services to BT under a seven year, £160 million deal.

30 June 2008

News/Outsourcing

Citi looking to sell Indian BPO and tech units - report

Citigroup is looking to restructure its Indian back office operations and put its BPO and technology divisions up for sale, according to local press reports which cite IBM as the "lead contender" for the assets.

27 June 2008

News/Outsourcing

EDB sells Swedish unit to BancTec

Nordic IT services group EDB Business Partner is selling its Swedish subsidiary Inndata to US BPO vendor BancTec. Financial terms of the deal were not disclosed.

23 June 2008

News/Outsourcing

Crunch to spur IT outsourcing - study

Hit by the credit crunch, banks are looking to outsource operations as a way of deferring investment in their technology infrastructures, according to research from business advisory outfit EquaTerra.

20 June 2008

News/Outsourcing

HSBC creates 250 call centre jobs

UK banking group HSBC is creating 250 call centre jobs over the next two years at its operations in Newport, Wales, but will outsource work currently handled by the unit to outside firms.

19 June 2008

News/Outsourcing

TietoEnator slumps as bid talks end

Shares in Scandinavian IT services vendor TietoEnator slumped in morning trading after it said talks with potential suitors had ended without any firm offers.

19 June 2008

News/Outsourcing

Credit crunch to boost demand for outsourcing - report

The credit crunch will drive a wave of outsourcing and offshoring in financial services as cash becomes tighter and banks look to cut costs, according to a UK study.

18 June 2008

News/Outsourcing

Robeco terminates Ordina IT outsourcing deal

Dutch asset manager Robeco has terminated a 10-year outsourcing agreement with ICT services firm Ordina following a disagreement over the platform selected to manage its back office processes.

18 June 2008

News/Outsourcing

Accenture wins Icap outsourcing deal

London-based interdealer broker Icap has awarded a five year contract to develop and maintain its European Union credit trading platform to technology consultancy Accenture.

11 June 2008

News/Outsourcing

TietoEnator slumps as Nordic Capital sells stake

Shares in Scandinavian IT services vendor TietoEnator have slumped on news that Nordic Capital's bid vehicle Cidron Services has sold off a 4.4% holding in its business.

20 May 2008

News/Outsourcing

HP acquisition plans benefit Mphasis

HP's planned acquisition of EDS drove shares in Indian outsourcing specialist Mphasis up 18.84% last week. The firm, 62% owned by EDS, led the gainers in a strong week for the Finextra 50 Financial Technology Index, which closed up four per cent to 88.69. i-Flex and Broadridge also saw significant rises while Thomson Reuters shares experienced their biggest one-week gain since the merger completed. S1, Microgen and Bravura were the only companies to buck the trend last week and record significant share price falls.

19 May 2008

News/Outsourcing

TietoEnator shareholders look to block Nordic Capital bid

A group of shareholders that hold a combined 10.4% stake in TietoEnator have stated that they will not accept Nordic Capital's EUR15 per share offer for the IT services firm.

16 May 2008

News/Outsourcing

Lloyds TSB offshores 450 IT jobs

UK bank Lloyds TSB is transferring up to 250 permanent IT jobs and 200 contractor positions to offshore centres in India.

14 May 2008

News/Outsourcing

HP to acquire EDS

Hewlett Packard (HP) has confirmed that it is acquiring IT services firm Electronic Data Systems (EDS) in a deal worth around $13.9 billion.

13 May 2008

News/Outsourcing

Bank of New York Mellon buys Lamp Technologies

Bank of New York Mellon has acquired Lamp Technologies, a Dallas-based provider of back office accounting and administration services to alternative investment firms. Financial terms of the deal have not been disclosed.

12 May 2008

News/Outsourcing

Outsourcing and offshoring take centre stage at Finexpo

Finexpo - Outsourcing Strategies, a new one-day conference and exhibition from Finextra on 5 June in London will feature keynote presentations from Deutsche Bank, IBM and Société Générale. It will also feature panel discussions covering best practice and the latest outsourcing trends on the sell-side and buy-side - from business processes such as trade execution, risk management and analysis through to back-office processing, infrastructure and application development.

09 May 2008