Firstsource Recognized As Leading Global Services Provider To The Financial Services Industry

MUMBAI, INDIA and NEW YORK, NY -- Firstsource Solutions, a global provider of business process outsourcing (BPO) services, today announced that American Banker and Bank Technology News, together with IDC Financial Insights, have included Firstsource in its annual FinTech 100 ranking.  Firstource is recognized as one of the leading 100 global technology, service and data providers to the financial services industry.  

Firstsource ranked 53rd on this year’s list, an increase of one position from the previous year, which attests to the company’s stability and importance to the industry.  The ranking includes firms that derive more than one-third of their revenue from the financial services industry, which is a core segment of Firstsource’s delivery capabilities.

“In what has been an unprecedented year for the financial services sector, Firstsource is honored to be acknowledged among its peers as a partner that provides organizations with strategies to improve business process management that contributes to increased organizational efficiency,” commented Ananda Mukerji, managing director and CEO Firstsource.  “This accolade reinforces Firstsource’s commitment to helping banks, financial services and insurance companies achieve operational flexibility, differentiated customer service and cut costs, allowing the companies to focus on their core competencies.”

The ranking is categorized and evaluated based on 2008 calendar year-end revenues and the percentage of revenues attributed to financial services. The special report, which publishes in American Banker on October 29 and Bank Technology News’ November issue, contains detailed statistics on suppliers of hardware, software and services to the financial services industry, paired with expert analysis and commentary on the industry.

Firstsource delivers an extensive range of services for the banking, financial services and insurance (BFSI) industry, including account inquiries and fund transfers; check, remittance and item processing; mortgage origination, servicing and underwriting; card activations and authorizations; lost and stolen card reissuance; insurance application processing and quotation requests; policy amendments and cancellations; middle and back office processes for debt and forex trading; custody operations and fund services; early- and-late stage collections; research and analytics.  Firstsource’s BFSI clients include several of the largest U.S. banks and seven of the 10 largest credit card companies in the U.S.  Today, Firstsource has over 3,500 employees in the U.S. in over a dozen delivery centers.

For more information about the rankings, visit www.financial-insights.com/fintech. To view the FinTech Special report, visit www.AmericanBanker.com/fintech100

About Firstsource
Firstsource (NSE: FSL, BSE: 532809, Reuters: FISO.BO, Bloomberg: FSOL@IN) is a leading global BPO (business process outsourcing) service provider headquartered in India. Firstsource provides customized business process management to global leaders in the Banking & Financial Services, Telecom & Media and Healthcare sectors. Its clients include Fortune 500 and FTSE 100 companies. Firstsource has a global delivery model with operations in India, U.S., UK, Argentina and Philippines. (www.firstsource.com).