Firstsource enters outsourcing deal with Axis Bank

MUMBAI, INDIA: Firstsource Solutions, a global BPO service provider today announced the signing of a five-year outsourcing agreement with Axis Bank, private sector bank in India.

Firstsource, as a part of the agreement, would offer customer contact services (voice, email and web chat) to retail customers of Axis Bank.

Services to Axis Bank retail customers would be across the fixed, savings and current account category while credit card services would be to its platinum, corporate, regular and travel card customers. Firstsource will provide these services from its centers in Mumbai and Chennai in 11 Indian languages, said a press release. 

“We are delighted to partner with Axis Bank. Outsourcing to specialists can help the Indian banking and financial services sector become more competitive, deliver greater efficiency and increased customer satisfaction,” said Chandra Iyer, EVP and head of Asia Business Unit. 

He added that the BPO outsourcing is still in the nascent stage as far as the Indian banking sector goes but its advantages are well-documented internationally and they hope to bring these advantages to Axis Bank.

Firstsource currently derives 24 per cent of its revenues from the BFSI vertical. It delivers an extensive range of back-office, customer management and collections services for the BFSI industry spanning retail banking, mortgage, bank cards, insurance, custody and research and analytics.

Firstsource’s clients in the BFSI industry include several banks in the U.S. and UK and seven of the 10 largest credit card companies in the U.S, added the release.