Indian outsourcing firm Genpact has landed a multi-year contract with the investment banking arm of the Paris-based Credit Agricole group. Under the agreement, Genpact will help the bank by providing IT development and maintenance, production support, infrastructure management and user support in the United States.
Neither company has disclosed financial details of the deal, which highlights the continued growth of Indian BPO firms in the US, but Genpact says it will provide service from its delivery center in New York rather than its expansive facilities in India.
The deal will give birth to a kind of shared services center with many of Credit Agricole’ IT employees being deputed to work at Genpact’s center in New York. This is an extension to an existing contract with the bank in France.
“We are confident that Genpact’s integrated IT services will help us achieve our business objectives, stay competitive, and allow us to run smarter operations,” said Jean-Francois Deroche, CEO of CA-CIB Americas.
CA-CIB operates in 50 countries, employing approximately 12,000 employees .The investment bank believes that Genpact’s ability to transform IT operations will help deal with the management of investment portfolios in the volatile waters of the global financial market.
With more than 62,000 employees in 24 countries, Genpact has recently been focusing on expanding in the Americas. The Indian firm recently opened a new delivery center in Sao Paulo, Brazil.