eFunds expands BPO operations in India
Announcement posted by eFunds International 16 Jul 2003
Opens additional call center capacity in Mumbai
eFunds Corporation (Nasdaq: EFDS), a leading provider of risk management, EFT, ATM and outsourcing solutions, has expanded its Global Outsourcing operations in India by increasing the capacity of one of its call centers in Malad, Mumbai by 200 seats. eFunds, one of the earliest players in the outsourcing space in India, will now have a total of 2,900 people employed in its outsourcing services centers in Mumbai, Gurgaon (Delhi) and Chennai.
eFunds manages third party outsourcing contracts for US and UK based clients in the financial services, retail and telecommunications sectors. The company's core outsourcing offerings are centered around the management of customer accounts - from account acquisition through account maintenance, payments, collection services and customer retention.
"The outsourcing sector is still experiencing tremendous growth. eFunds' global expertise in the financial services space, coupled with our process improvement and technology capabilities, makes us strategically positioned to be the partner of choice in India for an increasing number of high-profile companies in the US and UK.," said Kathleen Flanagan, Senior Vice President, Division Executive, Outsourcing Solutions, at eFunds Corporation. "We are extremely positive about the future of India as a world leader in BPO and eFunds will continue to develop its talent base to provide world class services to its clients."
Industry figures on India
The Indian call centre industry will grow by 68 per cent in the next 12 months to touch 158,000 seats, overtaking Australia to become the largest call centre country across Asia in 2004. Australia is currently on top with 135,000 seats and will grow to only 146,000 seats in the next year. These are the results of a research study done by callcenters.net, an Australian research and consulting firm. According to the study, India currently has over 1,200 call centres, 154,000 agents and 96,000 seats. The figures include both in-house and outsourced call centres.
About eFunds
Headquartered in Scottsdale, Ariz., eFunds Corporation (Nasdaq: EFDS) is an industry leader with nearly 30 years of experience and expertise in electronic payments. eFunds provides electronic transaction processing, ATM solutions, risk management, professional and outsourcing services to financial institutions, electronic funds transfer networks, government agencies and retailers around the world.
Committed to providing excellent customer service and award-winning products, eFunds enables their clients to reduce transaction and infrastructure costs, detect potential fraud and enhance relationships with customers. eFunds is one of the largest third-party processors of EFT, is the largest non-bank deployer of ATMs in North America, and is the provider of the world's largest debit database. www.efunds.com.
About eFunds International
Based in Australia, eFunds International Limited is the Asia Pacific operation of eFunds Corporation. The company's software and business solutions include: CONNEXT, which offers ATM and POS electronic funds transfer driving, switching, authorisation and settlement services to banks and financial networks; DataNavigatorT, a back-office solution for the post-processing of retail electronic transactions; Webpay, for secure authenticated messaging; Trintech solutions; and Business Process Outsourcing - the provision of high quality managed services, including call centres and back office processes. eFunds Corporation owns the service mark eFundsSM and the trademarks DataNavigatorT and CONNEXT.
Statements made in this release concerning the Company's or management's intentions, expectations, or predictions about future results or events are "forward-looking statements'' within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are necessarily subject to risks and uncertainties that could cause actual results to vary from stated expectations, and such variations could be material and adverse. Factors that could result in such a variation include, but are not limited to, the inherent unreliability of earnings and revenue growth predictions due to numerous factors, including many beyond the Company's control, potential difficulties, delays and unanticipated expenses inherent in the development and marketing of new products and services, competitive factors, and the numerous risks and potential additional costs, disruptions and delays associated with the establishment of new business initiatives. Additional information concerning these and other factors that could cause actual results to differ materially from the Company's current expectations is contained in the Company's Annual Report on Form 10-Q for the quarter ending March 31, 2003.
Statements made in this release concerning the Company's or management's intentions, expectations, or predictions about future results or events are "forward-looking statements'' within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are necessarily subject to risks and uncertainties that could cause actual results to vary from stated expectations, and such variations could be material and adverse. Factors that could result in such a variation include, but are not limited to, the inherent unreliability of earnings and revenue growth predictions due to numerous factors, including many beyond the Company's control, potential difficulties, delays and unanticipated expenses inherent in the development and marketing of new products and services, competitive factors, and the numerous risks and potential additional costs, disruptions and delays associated with the establishment of new business initiatives. Additional information concerning these and other factors that could cause actual results to differ materially from the Company's current expectations is contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2002.
eFunds manages third party outsourcing contracts for US and UK based clients in the financial services, retail and telecommunications sectors. The company's core outsourcing offerings are centered around the management of customer accounts - from account acquisition through account maintenance, payments, collection services and customer retention.
"The outsourcing sector is still experiencing tremendous growth. eFunds' global expertise in the financial services space, coupled with our process improvement and technology capabilities, makes us strategically positioned to be the partner of choice in India for an increasing number of high-profile companies in the US and UK.," said Kathleen Flanagan, Senior Vice President, Division Executive, Outsourcing Solutions, at eFunds Corporation. "We are extremely positive about the future of India as a world leader in BPO and eFunds will continue to develop its talent base to provide world class services to its clients."
Industry figures on India
The Indian call centre industry will grow by 68 per cent in the next 12 months to touch 158,000 seats, overtaking Australia to become the largest call centre country across Asia in 2004. Australia is currently on top with 135,000 seats and will grow to only 146,000 seats in the next year. These are the results of a research study done by callcenters.net, an Australian research and consulting firm. According to the study, India currently has over 1,200 call centres, 154,000 agents and 96,000 seats. The figures include both in-house and outsourced call centres.
About eFunds
Headquartered in Scottsdale, Ariz., eFunds Corporation (Nasdaq: EFDS) is an industry leader with nearly 30 years of experience and expertise in electronic payments. eFunds provides electronic transaction processing, ATM solutions, risk management, professional and outsourcing services to financial institutions, electronic funds transfer networks, government agencies and retailers around the world.
Committed to providing excellent customer service and award-winning products, eFunds enables their clients to reduce transaction and infrastructure costs, detect potential fraud and enhance relationships with customers. eFunds is one of the largest third-party processors of EFT, is the largest non-bank deployer of ATMs in North America, and is the provider of the world's largest debit database. www.efunds.com.
About eFunds International
Based in Australia, eFunds International Limited is the Asia Pacific operation of eFunds Corporation. The company's software and business solutions include: CONNEXT, which offers ATM and POS electronic funds transfer driving, switching, authorisation and settlement services to banks and financial networks; DataNavigatorT, a back-office solution for the post-processing of retail electronic transactions; Webpay, for secure authenticated messaging; Trintech solutions; and Business Process Outsourcing - the provision of high quality managed services, including call centres and back office processes. eFunds Corporation owns the service mark eFundsSM and the trademarks DataNavigatorT and CONNEXT.
Statements made in this release concerning the Company's or management's intentions, expectations, or predictions about future results or events are "forward-looking statements'' within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are necessarily subject to risks and uncertainties that could cause actual results to vary from stated expectations, and such variations could be material and adverse. Factors that could result in such a variation include, but are not limited to, the inherent unreliability of earnings and revenue growth predictions due to numerous factors, including many beyond the Company's control, potential difficulties, delays and unanticipated expenses inherent in the development and marketing of new products and services, competitive factors, and the numerous risks and potential additional costs, disruptions and delays associated with the establishment of new business initiatives. Additional information concerning these and other factors that could cause actual results to differ materially from the Company's current expectations is contained in the Company's Annual Report on Form 10-Q for the quarter ending March 31, 2003.
Statements made in this release concerning the Company's or management's intentions, expectations, or predictions about future results or events are "forward-looking statements'' within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are necessarily subject to risks and uncertainties that could cause actual results to vary from stated expectations, and such variations could be material and adverse. Factors that could result in such a variation include, but are not limited to, the inherent unreliability of earnings and revenue growth predictions due to numerous factors, including many beyond the Company's control, potential difficulties, delays and unanticipated expenses inherent in the development and marketing of new products and services, competitive factors, and the numerous risks and potential additional costs, disruptions and delays associated with the establishment of new business initiatives. Additional information concerning these and other factors that could cause actual results to differ materially from the Company's current expectations is contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2002.