Press release from GlobeNewswire (a Nasdaq OMX company)
Syntel Named a Top 50 Global Financial Technology Provider
Wednesday, October 12, 2011
TROY, Mich., Oct. 12, 2011 (GLOBE NEWSWIRE) -- Syntel, Inc. (Nasdaq:SYNT), a global Information Technology services and Knowledge Process Outsourcing (KPO) firm, today announced that it has been has been named to the FinTech 100, an annual ranking of the top global technology providers servicing the financial services industry, as named by American Banker, Bank Technology News and IDC Financial Insights.
Syntel was ranked 32nd on the 2011 list, an improvement of five spots over the Company's 2010 ranking.
"Syntel's growth stems from our commitment to building the capacity to grow with our clients, as well as expanding our portfolio of high value technology solutions," said Syntel CEO and President Prashant Ranade. "Our financial services and insurance teams are focused on developing new offerings that enable our clients to meet their current and future challenges."
Over the past year, Syntel has expanded its financial services and insurance solutions to include offerings such as Cloud computing, mobile analytics and reconciliation services for Exchange Traded Derivatives.
The FinTech rankings evaluate technology providers that derive more than one-third of their revenue from the financial services industry. In 2010, Syntel's revenue from the financial services and insurance sectors exceeded $390 million, including both information technology and KPO solutions.
For more information about the rankings, visit www.financial-insights.com/fintech.
To view the FinTech Special report, visit www.AmericanBanker.com/fintech100.
Syntel (Nasdaq:SYNT) is a leading global provider of integrated information technology and Knowledge Process Outsourcing (KPO) solutions spanning the entire lifecycle of business and information systems and processes. The Company is driven by its mission to create new opportunities for clients by harnessing the passion, talent and innovation of Syntel employees worldwide. Syntel leverages dedicated Centers of Excellence, a flexible Global Delivery Model, and a strong track record of building collaborative client partnerships to create sustainable business advantage for Global 2000 organizations. Syntel is assessed at SEI CMMi Level 5, and is ISO 27001 and ISO 9001:2008 certified. As of June 30, 2011, Syntel employed more than 18,000 people worldwide. To learn more about Syntel's financial services solutions, visit us at: www.syntelinc.com/banking-financial-services/.
Safe Harbor Provision
This news release includes forward-looking statements, including those with respect to the future level of business for Syntel, Inc. These statements are necessarily subject to risk and uncertainty. Actual results could differ materially from those projected in these forward-looking statements as a result of certain risk factors set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 2010, the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2011, or from other factors not currently anticipated.
CONTACT: North America/Europe: Jon Luebke Syntel 248/619-3503 firstname.lastname@example.org AsiaPac: Suruchi Sharma Syntel +91 9833691415 email@example.com