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Barclays confirms ABN Amro merger talks as IT challenge looms

Mar 20, 2007, By ComputerworldUK reporter

Acquisition talks come as both banks shake up IT

Barclays has confirmed its interest in acquiring Dutch bank ABN Amro later today, paving the way for what could be Europe's biggest financial services sector merger.

A buy-out could have profound implications for IT operations at the Dutch bank, which announced plans to axe hundreds of IT jobs in October in a bid to rationalise its organisation and improve efficiency after poor third quarter results.

Read the full news report from here @ Computer World UK

BlogOut provides global outsourcing updates across industries & business functions. See BlogOut Directory for the complete list of categories

Labels: banks-europe, banks-uk, finance-europe, finance-uk, it-banks, it-europe, it-finance, it-finance-uk, it-uk, netherlands

UK Finance giants defend offshore outsourcing

Mar 28, 2007

The UK’s financial giants have defended their Indian call centre operations amid fresh concerns from British customers about data security and declining customer service.

An internal report from insurer Norwich Union found shortcomings in its Indian call centres may potentially lead to losses of more than £10million, and fines from the FSA.

Banking giant HSBC was also accused this week of running a ‘first-class and second class system’ that sees affluent callers dealt with in the UK, while poorer ones are diverted to the sub-continent. A HSBC spokesperson dismissed the claims. Similarly, asked yesterday about Norwich Union’s troubled call centres in India, the National Outsourcing Association (NOA) hinted it was unfair to suggest the location was to blame.

Read the full news report from here @ Contractor UK

BlogOut provides global outsourcing updates across industries & business functions. See BlogOut Directory for the complete list of categories

Labels: banks-europe, banks-uk, finance-uk, offshore-problems, opposition, problems-europe, problems-india, uk

Credit Suisse considers massive switch to offshore

by Antony Savvas, 27 February 2007, Computer Weekly

Credit Suisse is considering outsourcing over half of its 5,000 IT jobs in Switzerland to offshore centres, including India, to slash operating costs.

According to Swiss newspaper SonntagsZeitung, the bank is planning to offshore 50% to 70% of IT jobs in Switzerland, as part of plans to make around £1bn in cost savings.

Read more from here @ Computer Weekly

BlogOut provides global outsourcing updates across industries & business functions. See BlogOut Directory for the complete list of categories

Labels: banks-europe, banks-offshore, banks-switzerland, it-banks, switzerland

Luxoft Increases Co-Operation with Deutsche Bank to Exploit Their Successful CRM Solution

Don Panek - CRMDirectory Editor

15 March 2007

Luxoft Increases Co-Operation with Deutsche Bank to Exploit Their Successful CRM Solution; joint initiative to commercialise innovative ‘Client First’ tool

HANNOVER, Germany and MOSCOW - Luxoft, Russia’s largest provider of high-end IT out-sourcing services, today announced that it is extending its co-operation with Deutsche Bank, one of the world’s leading investment banks.

Luxoft will provide development resources in Russia and the Ukraine to enhance and further innovate Client First, a cutting-edge Client Relationship Management (CRM) package.

Read the full report from here @ CRM Directory

BlogOut provides global outsourcing updates across industries & business functions. See BlogOut Directory for the complete list of categories

Labels: banks-europe, banks-germany, finance-europe, it-banks, it-finance, it-finance-europe, it-germany, it-russia, russia

Why Deutsche Bank Spreads Its Outsourcing

The German powerhouse bank explains why it uses both India and Russia for its offshoring needs.

by Tony Hallett and Andy McCue

Deutsche Bank (DB) is one of the world's largest banks and has long used outsourcing and offshoring, at various sites around the world, but this week it took its relationship with Russian IT services player Luxoft to a new level.

So why would it work with this supplier, at sites in Russia, rather than have more work carried out in its established offshore locations - such as Bangalore, Mumbai or Manila - where it has captive operations or works with local companies?

Read the full article here to find the answer - @ Business Week

BlogOut provides global outsourcing updates across industries & business functions. See BlogOut Directory for the complete list of categories

Labels: banks, banks-europe, banks-germany, banks-offshore, finance-europe, finance-offshore, it-banks, it-finance

Credit Suisse to shift Swiss IT jobs offshore - report

Investment bank Credit Suisse is looking to outsource over half of the 5000 IT jobs at its operations in Switzerland to cheaper offshore centres, according to press reports.

According to a report by Swiss Sunday newspaper SonntagsZeitung the bank is planning to offshore 50-70% of IT jobs in Switzerland under plans to SFr2.5 billion in cost savings.

Read more from here, at Finextra

BlogOut provides regular, global outsourcing updates for all industries & business functions, in hundreds of categories. See BlogOut Directory for the complete list of categories

Labels: banks, banks-europe, banks-offshore, banks-switzerland, europe, investment-banking, it-banks, it-europe, it-finance, it-finance-europe, it-switzerland, offshore, switzerland

Barclaycard to Shut Manchester Call Center, to Outsource to India

March 09, 2007

Barclaycard, the credit card division of Barclays, has announced the shutting of a call center in Manchester. The bank has decided to route more customer queries to India.

The Manchester call center mostly handles customer service and sales calls for U.K. credit card customers.

More about this from Global Services Media

BlogOut provides regular, global outsourcing updates for all industries & business functions, in hundreds of categories. See BlogOut Directory for the complete list of categories

Labels: banks, banks-europe, banks-uk, call-centres, call-centres-banks, call-centres-europe, call-centres-india, call-centres-offshore, call-centres-uk, finance, finance-europe, finance-uk

Project watch: HR BPO in action

27th February 2007

By Patrick O'Brien, Computer Business Review Online

Business process outsourcing is becoming as ubiquitous as IT outsourcing, as companies look to improve efficiency. Patrick O'Brien looks at how three companies dealt with the complex process of moving their human resources functions to a third party.

Companies analysed - Marriott Hotels UK, Unilever, Lloyds TSB UK

See the full analysis here

Labels: banks, banks-europe, consumer-goods, consumer-goods-europe, hotels, hotels-europe, hr, hr-banks, hr-consumer-goods, hr-europe, hr-hotels, hr-uk

Cornelia Wels-Maug, Ovum.com - Feb 07, 2007

IBM signs large outsourcing deal with German savings banks

IBM signed a deal with Sparkassen Informatik (SI), representing two-thirds of the approximately 400 German savings banks. The contract will run over a 5-year period and is worth about €600 million. It contains hard- and software elements as well as IT services and financial services.

More info from here

Labels: banks, banks-europe, banks-germany, it-banks, it-germany, it-maintenance, mainframes