Synechron forays into knowledge outsourcing

Synechron, the high-end software services company, has announced its entry into the knowledge process outsourcing (KPO) sector in the mortgage banking domain.

Synechron Chief Operating Officer (COO) Zia Bhutta said in a video conference that the company intended to become a complete IT services provider.

Bhutta said that the company had already signed three clients for KPO services in mortgage banking and expected 6 -10 clients in this vertical in 6-12 months.

The company would run a 200-seat operation in Pune centre.

Bhutta said that the mortgage outstanding market was $16 trillion in the US alone. "We sees a huge opportunity in entering the niche area. Many established companies are focusing on low-end BPO services," Bhutta said.

Faisal Hussian, chief executive officer, Synechron said, "The company is focusing upon providing all services from business process outsourcing, to IT services, testing, KPO, infrastructure management and business consulting to companies in the four domains of mortgage banking, capital markets, insurance and internet domains.

"We first plan to foray in mortgage banking vertical," he added.

Synechron is a $20 million company, 38 per cent of whose business comes from mortgage banking accounts, followed by capital market at 35 per cent, insurance at 10-15 per cent and balance in the internet domain vertical.

"At present, KPO is a very meagre portion of our revenues but in two years we expect KPO to account for 38-40 per cent of our total mortgage banking revenues. Also by the end of this year," added Hussian.