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Mindtree chosen by SWIFT as preferred offshoring partner

April 29, 2009 - Bangalore, INDIA

Offshore relationship will provide SWIFT with extended product development capability to help meet new business challenges

MindTree Limited, a global IT Solutions Company, announced today that it has been chosen as offshore service partner of SWIFT, the financial messaging provider for more than 8,500 banking organizations, securities institutions and corporate customers in over 200 countries. MindTree will host a new secure SWIFT Offshore Delivery Center (ODC) in Bangalore, providing SWIFT with the ability to control development costs and to modulate capabilities at short notice.

MindTree and SWIFT staff will jointly design, integrate, develop, enhance and maintain a number of SWIFT's products.

"After careful evaluation of several potential offshoring partners, we are pleased to announce the selection of MindTree," said SWIFT Head of Products, Brian Haughan. "MindTree has demonstrated a strong commitment to the relationship, its staff is skilled in highly technical environments and there is a culture of continuous learning."

"This partnership is an indication of SWIFT's belief in MindTree's capability to deliver world-class solutions and services in the financial services market. We are confident that the SWIFT ODC at MindTree will cater to the product development and other technology solution needs of SWIFT and its global customers," said MindTree Vice President and Head, Financial Services, Gaurav Johri. MindTree's Financial Services Industry Group recognizes the mix of challenges faced by the global banking and financial industry - from the need for better risk management to rapid product expansion and market penetration. Some of MindTree's key service offerings to the varied financial services industry segments are IT strategy consulting, applications development, product development, integration and maintenance, and validation services.

"This will further strengthen MindTree's position as a premier offshoring partner for the Financial Services industry and, particularly, for first-time outsourcers," said MindTree General Manager and Head - Europe, Vishaal Gupta.

Safe Harbor

Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause our actual results to differ materially from those in such forward-looking statements. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.


SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect over 8,500 banking organizations, securities institutions and corporate customers in more than 200 countries. SWIFT enables its users to exchange automated, standardized financial information securely and reliably, thereby lowering costs, reducing operational risk and eliminating operational inefficiencies. SWIFT also brings the financial community together to work collaboratively to shape market practice, define standards and debate issues of mutual interest.

About Mindtree

MindTree Ltd. is a global IT Solutions Company specializing in IT Services, Independent Testing, Infrastructure Management and Technical Support (IMTS), Knowledge Services and Product Engineering, which comprises of R&D Services and Outsourced Product Development. MindTree partners with its clients to create a transparent, value-based relationship. Our people build innovative solutions in a wide range of technology domains that enable our customers to succeed in their business goals.

MindTree was named among the Top 30 offshore service providers by the International Association of Outsourcing Professionals and Fortune Magazine. Widely known for its focus on human capital development, MindTree has been consistently rated among the most admired employers by several industry surveys, including Great Places To Work Institute, Hewitt Associates and Mercer. MindTree was ranked No. 1 among the Most Admired Knowledge Enterprise (MAKE) India Award winners for the second consecutive year in 2008. MindTree is the winner of the National Award for Excellence in Corporate Governance in India in 2007-08. The Company is publicly listed in India. Please visit us at

For more information, contact:

Ashwini Rajeswara
MindTree Limited

Jay Russo
LVA Communications