Maria Korolov » Archive
Indian Credit Card Market Predicted To Reach 28 Million Cards By 2014
Financial institutions in India by 2014 will issue a combined 28 million credit cards, which would represent a 13% increase from the 24.7 million cards they issued as of March 30 this year, according to a new research report released Dec. 13. Read full article at PaymentsSource (paid subscription required). … Read more »
The Great Risk Race
As Asia’s dynamic markets demand risk management attention and expertise, financial firms rush to fill a talent gap, with particular urgency in China. Three years ago, when Yang Haitao, an experienced financial risk manager, moved to Shanghai to join Nanyang Commercial Bank (China), he knew it was going to be more … Read more »
Build-Operate-Transfer Plan Brings Outsourced Jobs In
Article originally published in Insurance Networking News. Patrick Snowball, executive director of Aviva UK, flew down to Mumbai, India in February to accept an award from the Indian software industry. But India’s National Association of Software and Service Companies (NASSCOM) wasn’t lauding the insurance giant for the jobs it was moving to outsourcing firms on the subcontinent. Instead, Aviva was recognized for taking jobs back. The previous month, Aviva transferred 1,600 employees in Bangalore from an outsourcing vendor, 24/7 Customer, to Aviva Global Services. It was the first move of its kind and size in the Indian business processing outsourcing industry, NASSCOM said. When a vendor creates a … Read more »
NYSE, 3 Others Buying Stakes in India Exchange; SGX in the Wings
This article originally appeared in Securities Industry News (paid subscription required). The parent of the New York Stock Exchange and three other investors said last week that they will each buy 5 percent, $115 million equity stakes in the National Stock Exchange (NSE) of India, that country’s largest exchange and the third-largest in the world in terms of equity trades. The agreement came on the heels of a disclosure that the Singapore Exchange (SGX) was negotiating to invest in the Bombay Stock Exchange (BSE). In the context of other international exchange developments–notably NYSE Group’s pending acquisition of Euronext, the Nasdaq Stock Market’s pursuit of the … Read more »
India Tightens Security
Article originally published in Insurance Networking News. Late spring 2005, the world learned that a crime ring that included call center employees of an Indian outsourcing company stole more than $300,000 from Citibank customers by tricking callers into giving up their PIN numbers. The news sent shockwaves through the industry, as India was the premier destination for business process outsourcing in the world. Many predicted that the Indian outsourcing sector would suffer as a result. Read full article (free registration required). … Read more »