Misys IFA Services has become the latest UK company to outsource IT operations to India with the establishment of a compliance centre outside New Delhi.
The move is part of a five-year deal with Indian outsourcing specialist NIIT SmartServe, worth $10m.
Paul Charles, head of corporate communications for Misys said the deal would not affect any of the 25 staff currently providing the compliance needs of its 7,000 IFA network members. He said: ‘It will be easier to manage our cost base in India. As the volume of business goes up and as IFAs push through more business, this centre will help us to monitor and speed up the transactions and improve the processes we currently have in place.’
As more of the compliance operation is pushed out to India, Charles said the UK staff would be used to help implement and administer new member services to be announced next year. Charles said the move was part of Misys’ drive to improve its overall efficiency ahead of the proposed float in 2004.
Other companies which have moved IT operations to India include Prudential, Zurich and Royal and Sun Alliance.