Latest Outsourcing News: Finextra Research

Nordic Capital extends offer for TietoEnator

Private equity firm Nordic Capital has extended the offer period for its EUR15 per share bid for IT services firm TietoEnator after the European Commission (EC) gave the deal the greenlight.

07 May 2008

News/Outsourcing

Australian union calls on government to halt offshoring

Australia's Financial Sector Union (FSU) has called for the country's government to act to prevent banks from shifting jobs to overseas centres amid concerns that Westpac is looking to offshore more work.

02 May 2008

News/Outsourcing

Inconsistent PSD implementation threatens Sepa project- Logica

Disparities in the implementation of the European Payments Services Directive (PSD) across EU borders may lead to a reinforcement of national payments networks and undermine the push for a single euro payments area (Sepa), says a new report from IT services firm Logica.

22 April 2008

News/Outsourcing

Wincor Nixdorf takes majority stake in prosystems IT

Wincor Nixdorf has taken a 51% controlling stake in prosystems IT, a provider of outsourcing services to German savings banks. Financial terms of the deal were not disclosed.

22 April 2008

News/Outsourcing

IBM wins Cetelem IT services deal

BNP Paribus subsidiary Cetelem has signed a $2.8 million information technology services deal with IBM to support its operations in Argentina.

18 April 2008

News/Outsourcing

TietoEnator rises on EDB merger rumours

Shares in Nordic IT services firm TietoEnator gained in morning trading following press reports that the company could be merged with rival EDB Business Partners if it is acquired by private equity outfit Cidron Services.

09 April 2008

News/Outsourcing

Banks switching to 'process utilities' service model to cut costs - study

More than a third of the cost-reduction measures implemented by financial institutions in the past three years have failed to deliver the required savings and as a result banks are turning to a new process utility model based around the concept of shared services, to boost efficiency, says consultancy Booz Allen Hamilton.

25 March 2008

News/Outsourcing

Portrait to buy Norwegian CRM outfit Million Handshakes

UK CRM vendor Portrait Software has agreed terms to acquire Million Handshakes, a Norway-based provider of outbound campaign management and marketing software.

20 March 2008

News/Outsourcing

TietoEnator rejects EUR1.1bn bid

Nordic IT services firm TietoEnator has rejected an unsolicited EUR1.1 billion takeover bid from private equity outfit Cidron Services as too low.

20 March 2008

News/Outsourcing

Indian fintech vendors battered again

Continuing market volatility resulted in Indian fintech stocks taking a bath last week, further depressing the Finextra50 stock index.

17 March 2008

News/Outsourcing

Finextra opens registration for new outsourcing conference

Finextra has opened registration for a new one-day conference which will explore the challenges - and opportunities - for financial firms looking to optimise their current outsourcing arrangements and seek new geographies and business and operational areas, that could benefit from a more strategic sourcing approach.

07 March 2008

News/Outsourcing

Banks to shift more IT offshore - Infosys

US and European financial institutions will look to shift more technology operations offshore as budgets are squeezed following last year's credit crisis, according to the head of India's Infosys Technologies.

05 March 2008

News/Outsourcing

Cashcard awards ITS A$250m ATM contract

Australian ATM operator Cashcard has signed a five year contract, worth A$250 million, with Sydney-based ITS for the supply and maintenance of 6000 Wincor Nixdorf cash machines.

05 March 2008

News/Outsourcing

Merrill Lynch hires Sanzone as chief administrative officer

Merrill Lynch has hired Thomas Sanzone - currently chief information officer (CIO) at Credit Suisse - to oversee its global technology, operations and corporate services groups.

04 March 2008

News/Outsourcing

IT vendor management increasingly important to banks - study

More effective IT vendor management could save banks between 10% and 30% of their technology expenditure according to a US study conducted by Silicon Valley-based research firm The FactPoint Group for ITM Software.

04 March 2008

News/Outsourcing

Swedbank awards five-year outsourcing deal to LogicaCMG group company

WM-data has won a five-year contract for Swedbank's IT development and applications management. As part of the agreement, LogicaCMG will set up a dedicated centre for the bank within its operations in Bangalore, India.

25 February 2008

News/Outsourcing

TietoEnator banking and insurance president departs

Nordic IT services vendor TietoEnator says Matti Viljo, the president of its banking and insurance unit is leaving the company "by mutual agreement", along with group chief financial officer Timo Salmela.

18 February 2008

News/Outsourcing

Citi shelves sale of Indian BPO unit - report

US banking giant Citigroup has temporarily halted the sale of its business process outsourcing (BPO) unit in India, according to local press reports.

05 February 2008

News/Outsourcing

Deutsche Bank acquires hedge fund administrator HedgeWorks

Deutsche Bank has acquired HegeWorks, a California-based provider of hedge fund administration services. Financial terms of the deal were not disclosed.

01 February 2008

News/Outsourcing

IBM inks NAB outsourcing deal

National Australia Bank (NAB) has signed a three year outsourcing agreement with IBM for the management of its desktop and service desk IT infrastructure. The deal includes the provision of desktop support services for 28,000 bank employees.

23 January 2008