Metavante, ICICI OneSource in Outsourcing Agreement

Metavante, the US-headquartered financial services provider, has entered into an outsourcing agreement with ICICI Onesource, an Indian outsourcing services provider. The company has also acquired a 11.5 percent stake in ICICI One Source for an undisclosed amount.
Under the terms of the agreement, Metavante will get exclusive distribution rights for ICICI OneSources’ BPO services to the North American Banking and Financial market. Also, as part of the agreement, ICICI OneSource will get recognition as exclusive offshore delivery partner and preferred onshore delivery partner for BPO services to financial institutions serviced by Metavante.