iGate bags $20mn ING Vysya infotech mandate

iGate Global Solutions has bagged a $20 million IT outsourcing deal from ING Vysya Bank for a period of 5 years. ING Vysya Bank through this deal will be trimming its own IT spend by around 10 per cent as its current IT spend is in the range of Rs 30-35 crore per annum.

The deal envisages iGate assisting in driving ING Vysya's IT strategy, play a key role in the entire value chain - from hardware identification, to procurement, to defining and implementing the technology strategy for the bank.

iGate will also take responsibility for all data centre operations, systems and network management and local or remote support at ING Vysya locations.

Going further, iGate plans to extend the deal which might include areas such as process outsourcing, data mining and analytics. Through this deal, iGate is also looking at opportunities for offering services to ING Global.

ING Vysya has already been a client of iGate Global when iGate recently took over IdeaSpace, which was the IT division of the bank. Commenting on bagging the $20 million deal, Phaneesh Murthy, chief executive officer, iGate Global, said, "At the time of IdeaSpace acquisition, we spoke about wanting to grow our association with ING Vysya. It is extremely significant that they have entrusted us with the entire technology function of the bank and we are confident of delivering on their expectation."