Kanbay unveils Expansion Plans for India; to launch operations in Hyderabad
Announces setting up of fourth software development facility within one month of opening of it's third development facility in Pune
INDIA, HYDERABAD, July 28th, 2003: Kanbay Inc. a premier global systems integrator providing high-quality, high-value solutions to the financial services industry announced today plans to set up its development facility in Hyderabad. The plans were finalized today in the afternoon between
Mr. Chandrababu Naidu, Honorable Chief Minister, Andhra Pradesh and Mr. Raymond Spencer, Chairman and CEO, Kanbay International.
The other three facilities of Kanbay are located at Talwade, Pune with a total strength of over 1300 professionals.
The new facility to come up at Hyderabad will be spread over an area of over 15 acres and will see an initial investment of over 50 crores in the first phase and will house 2500 professionals. Since last year, Kanbay has recruited over 800 professionals. Kanbay plans to increase its total strength in India to 3000 by the end of 2004Mr. Raymond Spencer, Chairman and CEO, Kanbay International. said, "We are extremely pleased to be starting operations in Hyderabad. We are experiencing high growth for past couple of years from customers in the US, Europe and through out Asia and this demand is expected to remain strong over the next few years. To meet this growing demand, India remains our best bet to deliver quality solutions consistently to our clients globally."
"Hyderabad, with its strong Government support, has abundant availability of talented IT professionals and coupled with good infrastructure facilities .It makes a good reason for us to be here" added Mr. Spencer.
"The recent expansion of Kanbay in India is a testimony of Kanbay's commitment to leverage Indian skill sets to augment its business. Hyderabad offers a good mix of experienced and fresh talent which makes us confident of delivering best quality software solutions to our customers on a continual basis," Said Mr. Cyprian D'Souza, CEO, Kanbay India.
India is the largest software development facility for Kanbay with over 1300 of the total 1600 professionals worldwide. Kanbay leveraged its ‘offshore outsourcing model' by understanding associated risks and developing processes for the long-term success of the strategy.
It has unique Kanbay Global Link end-to-end project and quality management methodology that enables global service delivery across multiple client sites. Kanbay was recently named as a Laureate for the 2003 Computerworld Honors Collection for its GlobalLink methodology.
In addition to Kanbay's appointment as a Laureate for the Computerworld Honors Program, the company's KGM model recently was recognized for achieving SEI-CMM Level 5 - the highest level a company can attain within the Software Engineering Institute's (SEI) industry standards for software development processes. Both honors substantiate Kanbay's success as a company in institutionalizing its processes, addressing evolving client needs and creating a culturally integrated environment that sets it apart as a global leader.
Kanbay has an impressive client list in the financial services sector that includes established fortune 500 companies and conglomerates.
About Kanbay
Kanbay is a premier global systems integrator that provides high-quality, high-value solutions to the insurance, banking, credit card, and securities industries. It provides a complete lifecycle of services including program management, business analysis, technology planning, architecture, application development and maintenance, and support. Kanbay's specialized services include business intelligence, package selection, customization, and implementation. With its corporate offices in Rosemont, Illinois, Kanbay has over 1,600 professionals in twelve locations throughout the US, Europe, Australia, Hong Kong, Singapore, Japan and India.
