Home > News and Events none
- News and Events
- Press Release
- Fact Sheet
- Media Contact
- MindTree Logo
- MindTree in Media
- News Archives
- Events
June 26, 2007 - New York and Bangalore, India
CIT, together with MindTree Consulting, an international IT and R&D services company, has established an offshore development center in Bangalore, India that will initially employ 75 consultants. The consultants will be responsible for application development and maintenance activities for CIT’s Specialty Finance, Sales, Collaboration, and Corporate IT systems. The development center is expected to grow to more than 100 consultants, as CIT continues to invest in technology to support its global operations.
“Through our partnership with MindTree, CIT has the opportunity to access an economically-efficient pool of high quality talent,” said Michael Baresich, CIT’s Chief Information Officer. “While cost reduction is a key factor in many off shoring relationships, we are also focused on implementing a strategy that will improve the quality of our internal processes, controls and metrics, while building a talented, global workforce that will ultimately differentiate CIT in the marketplace.”
The work will be performed in India and the United States in a collaborative environment. Through this model there is shared ownership and accountability to ensure that the day-to-day work being performed improves the quality of processes, services, controls and metrics at CIT. This structure aligns CIT’s business expertise with the development and process expertise of MindTree consultants.
“We are pleased to partner with CIT as it aligns its IT organization to improve its operating efficiencies,” said Krishnakumar Natarajan, MindTree President and CEO, IT Services. “Our extensive experience and expertise in the financial services market will enable CIT to lower costs while improving the performance of its IT group.”
MindTree has grown to a team of over 4,500 professionals, and offers IT services in application development and maintenance, business intelligence solutions, ERP and supply chain management, testing, Mainframe and iSeries support and enhancement. MindTree also provides R&D Services in the areas of product and semiconductor design, operating systems, protocol engineering, embedded applications, product testing and licensing of intellectual property.
In 2006, MindTree was a recipient of the MAKE award for excellence in the area of Knowledge Management, and was named the leading service provider in the “Human Capital Development” category by Global Services magazine. In 2007, MindTree was rated among the world’s top 100 outsourcing service providers by the International Association of Outsourcing Professionals. MindTree has consistently been chosen as one of the best employers in several independent surveys during the last three years. For more information, please visit www.mindtree.com
Director of Internal Communications, STS
(862) 485-7017
Michele.Caselnova@CIT.com
Director of External Communications & Media Relations
(212) 461-7711
Curt.Ritter@CIT.com
Mary Flynn
Director of Media Relations
Mary.Flynn@CIT.com
MindTree Consulting
080-26711777
manoj_chandran@mindtree.com
CIT ANNOUNCES GLOBAL SOURCING INITIATIVE TO IMPROVE OPERATING EFFICIENCIES
Establishes Offshore Development Center in Bangalore, IndiaNEW YORK and BANGALORE, INDIA
June 26, 2007 - CIT Group Inc. (NYSE: CIT), a leading global provider of commercial and consumer finance solutions, today announced its first significant global sourcing initiative designed to streamline the Company’s technology operations and improve its operating efficiencies.CIT, together with MindTree Consulting, an international IT and R&D services company, has established an offshore development center in Bangalore, India that will initially employ 75 consultants. The consultants will be responsible for application development and maintenance activities for CIT’s Specialty Finance, Sales, Collaboration, and Corporate IT systems. The development center is expected to grow to more than 100 consultants, as CIT continues to invest in technology to support its global operations.
“Through our partnership with MindTree, CIT has the opportunity to access an economically-efficient pool of high quality talent,” said Michael Baresich, CIT’s Chief Information Officer. “While cost reduction is a key factor in many off shoring relationships, we are also focused on implementing a strategy that will improve the quality of our internal processes, controls and metrics, while building a talented, global workforce that will ultimately differentiate CIT in the marketplace.”
The work will be performed in India and the United States in a collaborative environment. Through this model there is shared ownership and accountability to ensure that the day-to-day work being performed improves the quality of processes, services, controls and metrics at CIT. This structure aligns CIT’s business expertise with the development and process expertise of MindTree consultants.
“We are pleased to partner with CIT as it aligns its IT organization to improve its operating efficiencies,” said Krishnakumar Natarajan, MindTree President and CEO, IT Services. “Our extensive experience and expertise in the financial services market will enable CIT to lower costs while improving the performance of its IT group.”
About CIT
CIT Group Inc. (NYSE: CIT), a leading global commercial and consumer finance company, provides clients with financing and leasing products and advisory services. Founded in 1908, CIT has approximately $80 billion in managed assets and possesses the financial resources, industry expertise and product knowledge to serve the needs of clients across approximately 30 industries worldwide. CIT, a Fortune 500 company and a member of the S&P 500 Index, holds leading positions in vendor financing, factoring, equipment and transportation financing, Small Business Administration loans, and asset-based lending. With its global headquarters in New York City, CIT has approximately 7,500 employees in locations throughout North America, Europe, Latin America and Asia Pacific. www.cit.comAbout MindTree Consulting
Founded in 1999, MindTree Consulting is an international IT and R&D services company with development centers in India and the U.S. The Company provides end-to-end project execution through OneShore™, a hybrid delivery model.MindTree has grown to a team of over 4,500 professionals, and offers IT services in application development and maintenance, business intelligence solutions, ERP and supply chain management, testing, Mainframe and iSeries support and enhancement. MindTree also provides R&D Services in the areas of product and semiconductor design, operating systems, protocol engineering, embedded applications, product testing and licensing of intellectual property.
In 2006, MindTree was a recipient of the MAKE award for excellence in the area of Knowledge Management, and was named the leading service provider in the “Human Capital Development” category by Global Services magazine. In 2007, MindTree was rated among the world’s top 100 outsourcing service providers by the International Association of Outsourcing Professionals. MindTree has consistently been chosen as one of the best employers in several independent surveys during the last three years. For more information, please visit www.mindtree.com
CIT Media Relations
BANGALORE
Michele CaselnovaDirector of Internal Communications, STS
(862) 485-7017
Michele.Caselnova@CIT.com
NEW YORK
C. Curtis RitterDirector of External Communications & Media Relations
(212) 461-7711
Curt.Ritter@CIT.com
Mary Flynn
Director of Media Relations
Mary.Flynn@CIT.com
MindTree Consulting Media Relations
Manoj ChandranMindTree Consulting
080-26711777
manoj_chandran@mindtree.com
