The Hindu Business Line : Quintant bags big order from GreenPoint

GreenPoint Mortgage, a subsidiary of GreenPoint Financial, is an existing client of Progeon, the BPO arm of Infosys Technologies. Progeon sources have ruled out a possible shift of GreenPoint account to Quintant.

Bangalore , Jan. 18

QUINTANT, the business services provisioning arm of software firm iGate Global, has bagged a "significant" order from US speciality finance company GreenPoint Financial, according to market sources.

The company chose not to comment. The order size could not be ascertained.

Most of the recent order wins are shrouded in secrecy as Indian vendors and the clients choose not to publicise new projects fearing outsourcing backlash in the West.

GreenPoint Mortgage, a subsidiary of GreenPoint Financial, is an existing client of Progeon, the BPO arm of Infosys Technologies.

Mr Phaneesh Murthy, the then Chairman of Progeon and Infosys's sales head, was instrumental in bringing the $30-million five-year deal to Progeon.

He is currently CEO of iGate Global and had been a director on Quintant's board prior to iGate buying it out for Rs 87 crore.

Quashing market talk of a possible shift of GreenPoint account from Progeon to Quintant, Progeon sources said that the account was "very stable" with Progeon.

Earlier, Mr Akshaya Bhargava, Progeon chief, had told Business Line in October last year that the GreenPoint account was stable with minor operational glitches, which were quite common to such outsourced deals.

Quintant was floated with an aim to provide value-added BPO services to a combination of business understanding, technology-enabled frameworks and intelligent analysis of data with a focus on the banking, insurance, card services and investment banking segments.

It was the first Indian BPO company that claimed to own the processes for the clients.

The company aimed to cut costs for its clients by as much as 40-50 per cent through combined offering of technology, offshore delivery, labour arbitrage, process efficiencies, business intelligence and automation.