Metavante joins with Indian Offshore Outsourcing vendor to offer services

The latest news in the Information Technology market is Metavante joins with Indian Offshore Outsourcing vendor to offer services to their global clients. Metavante is a technology and services provider to the United States banking and payments sectors. Now the company has decided to have a tie-up with the Indian company to provide better services to their global clients. According to the deal company will provide (BPO) Business Process Outsourcing services from Indian Offshore Outsourcing vendor ICICI OneSource. This declaration was made by the spoke person of the company on Wednesday 12th April 2006.

Metavante is a wholly-owned subsidiary firm of Marshall & Ilsley. Metavante is an expanded financial services firm in Wisconsin. The company has also obtained an 11.5% involvement in the equity of ICICI OneSource for an unrevealed price. This joint venture is expected to work well for both the service providers globally. ICICI OneSource again is one of the leading names in India in the financial sector.

Offshore Outsourcing Services

Metavante's clients are very curious in gaining benefits of global Offshore Outsourcing services, stated by Donald Layden, Metavante's executive vice president (EVP) for corporate development. This declaration was made in a conference called on Wednesday 12th April 2006. He also stated that, this tie-up with Indian Offshore Development service provider would definitely help and fulfill the expectations of their valuable clients globally.

This phenomenon of taking service help of Offshore Development firm is not new in this industry. Some large global banks and other financial service organizations have taken advantage of Offshore Outsourcing for many years. Their experience with this business process is also good. These tie-ups, taking place for a long with the Offshore Development service providers, have placed regional banks at a competitive shortcoming in the usefulness and efficiency of their business processes and service globally.

The tie-up between these two service providers gives ICICI OneSource approach to Metavante's relationships with more than 8,000 financial organizations for Offshore Outsourcing purpose. This list also includes 91 of the top 100 United States banks, and more than 900 customers in banking and financial services sector to which it offers core account processing services and other financial services.

ICICI OneSource is one of the India’s leading BPO service providers in IT Outsourcing services with more than 8,000 qualitative manpower strengths. ICICI OneSource has nine services delivery units in India and one in the United States. The revenue of the firm was $123 million for the year ended March 31 2006, announced by Ananda Mukerji.

According to the deal between the two companies, Metavante will be the elite point of ICICI OneSource's BPO services and offers to the North American banking and financial services and sectors and payments markets. Sequentially, ICICI OneSource will be Metavante's exclusive Offshore Outsourcing delivery partner. It would favor onshore delivery partner for BPO services and facilities to financial institutions and other service sector.