State Bank of India has outsourced the back-office operations of its foreign branches and offices to Intelenet Global Services (IBG), a third-party BPO service company.
In all, six companies had put in their bids offering business process outsourcing services. Besides IBG, those who qualified the technical norms were Infosys, Tata Consultancy Services (TCS) and Wipro, while the two which didn’t were 3i and IBM.
“Moving out the back-office work to a third party would reduce costs. We expect to improve efficiency as well as response time”, a senior SBI official said.
Intelenet employs over 25,000 people across 30 locations globally. SBI’s global banking business operates through a network of 84 offices and branches in 32 nations.
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