CIT sets up offshore centre in Bangalore

CIT Group, a global provider of commercial and consumer finance solutions, in association with IT and R&D services firm MindTree Consulting, has established an offshore development centre in Bangalore to increase its operating efficiencies.

The centre, housed within the MindTree campus, will initially have 75 consultants to handle application development and maintenance activities for CIT's speciality finance, sales, collaboration and corporate IT systems.

The employee strength is expected to grow to more than 100 consultants as CIT invests in technology to support its global operations. The centre can accommodate up to 120 consultants.

"While cost reduction is a key factor in many off-shoring relationships, we also intend to implement a strategy that will improve the quality of our internal processes, controls and metrics, and build a talented global workforce. This first global sourcing initiative is designed to streamline the company's technology operations,'' Michael Baresich, chief information officer,CIT, said.