Leaning on eClerx as a central hub, our clients can rely on us to provide superior operational and business best practices in support of their strategic objectives.
New York, NY (PRWEB) November 20, 2013
eClerx, a leading provider of knowledge and business processing to the global financial services industry, today announced it has been awarded the “International Contract of the Year” at the annual National Outsourcing Association (NOA) Awards. The awards recognize best practice initiatives in outsourcing projects, and reward end-users, suppliers, advisors and destinations.
eClerx was selected for the development and implementation of its reference data operations for a key client in the global investment banking sector. The firm was faced with budgetary and logistical constraints while operating in a complex regulatory environment. Spurred by regulatory pressures from Dodd-Frank, FINRA and FATCA, the organization leveraged eClerx’s expertise to streamline operations amongst each regional team across the globe, increasing the firm’s overall efficiencies, and regulatory compliance.
Through its partnership approach, eClerx enabled the investment bank to achieve various goals, including:
- Reducing turnaround time (TAT) for onboarding new clients and upgrading to create “ready to settle” accounts
- Defining uniform service level agreements (SLA) and key performance indicators (KPI) with regulation reporting and tracking of key risk indicators (KRI)
- Integrating the regional teams and developing best practices to standardize global processes
- Providing an integrated control dashboard to ensure responsiveness to global regulatory updates
“This award further demonstrates the benefits of leveraging a third-party partner to collaboratively eliminate cross-border challenges while maintaining regional and global regulatory compliance,” said Alan Paris, Principal, Financial Services, eClerx. “Leaning on eClerx as a central hub, our clients can rely on us to provide superior operational and business best practices in support of their strategic objectives. Reference data is a crucial part of banks' necessary operational processes, as regulators require more granular information and we are able to optimize the processes and alleviate the burden as firms are pressured to meet the necessary mandates while operating under budget constraints.”
National Outsourcing Association Director Kerry Hallard said, “2013 is a monumental year for the NOAAs, as it was our 10th Anniversary, and yet again we saw a growing number of submissions – all of outstanding quality. The shortlist truly represents the best of the best in outsourcing, and I am extremely proud to see that so many organizations clearly value the positive association of participation.”
The National Outsourcing Association (NOA) is a non-profit organization that represents the interests of outsourcing end users, suppliers and support services. Its focus is on delivering education, excellence and collaboration opportunities in all areas of outsourcing, including information technology outsourcing (ITO), BPO and knowledge process outsourcing (KPO).
eClerx provides critical business operations services to more than 30+ global Fortune 500 clients, including many of the world’s leading financial services firms, online retail and distributors, interactive media and entertainment, high tech and industrial manufacturing, travel and leisure, and software vendors, through operational support, data management and analytics solutions. Incorporated in 2000, eClerx is India’s first and only publicly listed knowledge processing (KPO) company and is today traded on both the Bombay and National Stock Exchanges of India. eClerx was ranked as one of Forbes Asia’s 200 Best Under a Billion List and named as finalist in Teleos’ Most Admired Knowledge Enterprise award. eClerx employs over 6,000 employees across its six Indian delivery centers and offices in Mumbai, Pune and Chandigarh plus global client relationship locations in New York, Philadelphia, London, Silicon Valley, Austin, Dublin and Singapore. For more information, please visit http://www.eclerx.com.