Capco Establishes Capco IT Services India; Ness Technologies Awarded Multi-Year Offshore Agreement to Support Capco Subsidiary.Business Editors/High-Tech Writers BANGALORE, India--(BUSINESS WIRE)--Dec. 10, 2003 Capco, a leading global financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. and technology solutions provider, announced today the establishment of Capco IT Services India Pvt. Ltd. In addition, Ness Technologies, through its offshore services division Ness Global Services, has secured a three-year agreement to provide offshore and systems integration services for Capco. The partnership is expected to be worth approximately US$20 million to Ness over the three-year period. Capco Services India is an integral component of Capco's business strategy and client focus. Capco is unique in the financial services industry in providing integrated consulting services, technology solutions, and managed services An umbrella term for third-party monitoring and maintaining of computers, networks and software. The actual equipment may be inhouse or at the third-party's facilities, but the "managed" implies an ongoing effort; for example, making sure the equipment is running at a certain quality . The Company helps its global clients modernize their business models and architectures to create strategic revenue and cost advantages. "While most financial institutions are under tremendous pressure to embrace straight through processing In financial technology, the ability to process a stock transaction by computer from beginning to end without manual intervention at any of the stages. , reduce costs, and increase efficiency, they have little time or opportunity to 'think big' and contemplate radical ways of developing new business strategies and transformational changes," said Rob Heyvaert Rob Heyvaert is a Belgian businessman. He is the founder, chairman and Chief Executive Officer of the Capital Markets Company, commonly known as Capco, a consultancy. Before founding Capco, he created Cimad Consultants and sold it to IBM. , Chairman and Chief Executive Officer, Capco. "Capco India offers our clients a viable offshore services option as we help them reinvent their business models, and Ness is a prestigious partner to support these new client services." Under the three-year agreement, Ness will provide onshore systems integration and offshore information technology development and systems integration services for Capco's worldwide client base. "We are pleased to partner with a financial services industry leader such as Capco in addressing client demands to transform their businesses, streamline business processes and cut costs, " said Raviv Zoller, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Ness Technologies. "It is a great opportunity for us to support Capco in providing outsourcing, offshore IT services, and systems integration services that meet these increasing customer needs." "Ness has in-depth knowledge of both the financial services industry and the specific requirements of Capco and its clients," added Zoller. "Financial services is an important industry for Ness, a global company that serves international clients such as American Express American Express (NYSE: AXP), sometimes known as "AmEx" or "Amex", is a diversified global financial services company, headquartered in New York City. The company is best known for its credit card, charge card and traveler's cheque businesses. , JP Morgan, Deutsche Bank Deutsche Bank AG (IPA: /'dɔɪ.tʃə/[1]) (ISIN: DE0005140008, NYSE: DB) (English: German Bank , Chase, GE Capital, Bank Hapoalim Bank Hapoalim (Hebrew: בנק הפועלים lit. Bank of the Workers) is the largest Israeli bank. , Bank Leumi Bank Leumi (Hebrew: בנק לאומי, lit. National Bank) is an Israeli bank. and Czech National Bank The Czech National Bank (Czech: Česká Národní Banka, ČNB) is the central bank and financial market supervisor in the Czech Republic with its headquarters in Prague. The Bank's governor is Zdeněk Tůma. ." Capco jointly published the "2003 Best Practices in Offshoring
Offshoring describes the relocation of business processes from one country to another. Survey" with The Paraas Group and The Weissman Center for International Business at Baruch College. The survey, which appeared in the Capco Institute Journal of Financial Transformation: Offshoring, confirmed the high levels of satisfaction among companies moving IT and business processing work offshore, and their commitment to further offshoring. To view the offshoring Journal and survey results, please visit http://capco.com/journal8.html About Ness Technologies Ness Technologies (www.ness.com) is a leading global provider of Information Technology services, specializing in the design and deployment of leading-edge information management solutions, with offices in 13 countries across the US, Europe, and Asia, and a workforce of over 4,400 experienced information technology and consulting professionals. Strategic alliances and partnerships with leading global software and infrastructure vendors distinguish NESS as a unified IT services provider with unparalleled capabilities, innovative skills and proven expertise - able to cope with the rapidly changing business challenges of its diversified clients. Its annual sales volume is around US$300 million. About Capco Capco is the only leading strategist focused exclusively on modernizing business models and architectures in the financial services industry. The Company provides advice and managed services to top tier clients from offices in North America, Europe, and Asia. For more information, or to learn about Capco's services and solutions, please visit http://www.capco.com/ Capco is a registered trademark of The Capital Markets Company N.V. |
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