CIT opens ODC in Bangalore

NEW DELHI: Commercial and consumer finance solutions provider CIT Group Inc. in partnership with MindTree Consulting, an IT and R&D services company, has established an offshore development center in Bangalore.

The center will carry out application development and maintenance of CIT’s Specialty Finance, sales, collaboration and corporate IT systems.

The center would initially employ 75 consultants. Subsequently, the center would be increased to over 100 consultants.

“While cost reduction is a key factor in many off shoring relationships, we are also focused on implementing a strategy that will improve the quality of our internal processes, controls and metrics, while building a talented, global workforce that will ultimately differentiate CIT in the marketplace,” said Michael Baresich, CIT’s chief information officer.

“We are pleased to partner with CIT as it aligns its IT organization to improve its operating efficiencies. Our extensive experience and expertise in the financial services market will enable CIT to lower costs while improving the performance of its IT group,’’ said Krishnakumar Natarajan, MindTree president and CEO, IT Services.