Technology and operations firm iGATE Global Solutions has bagged a $20 million outsourcing contract from ING Vysya Bank.
The five-year pact was signed by iGATE Global Solutions' head (BPO/BSP), Tiger Ramesh, and ING Vysya Bank's senior executive vice-president and head of operations and technology, Jean Louis Lemaire, in Bangalore on Wednesday.
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Through this partnership, iGATE Global would assist in driving the IT strategy for ING Vysya Bank, which is part of the multinational financial services giant ING Global, iGATE officials told a news conference.
The deal comes close on the heels of the $1.69 million acquisition of IdeaSpace business by iGATE Global.
"iGATE Global plays a key role in the entire value chain from hardware identification to procurement, to defining and implementing the technology strategy for the bank," officials said.
iGATE would also take responsibility for all data sent through video conferencing from California, CEO of iGATE Global, Phaneesh Murthy, said adding his company was confident of delivering according to the expectations of ING Vysya Bank, which has entrusted it with the entire technology function.