News

eFunds expanding operations in India

March 16, 2004

MUMBAI, India - With the outsourcing market booming in India, eFunds International is expanding its operations in the country, adding 900 employees, which represents a 40 percent increase to its existing workforce.

According to a CyberMedia News report, eFunds has inaugurated a new facility in Mumbai to house some of the new employees. The first phase of this expansion is expected to be operational in April, with 300 employed there initially.

The new center is the company's third in India.

"eFunds is focused on three key vertical markets, financial services, retail and telecommunications, all of which are beginning to fully appreciate the benefits of outsourcing. We also have a large customer base and we plan to leverage those existing relationships to extend our outsourcing activities," said Kathleen Flanagan, the company's senior vice president of Global Outsourcing Solutions.

She added, "India is a key growth market for us, with over 75 percent of our employees based here. With the new capacity, we anticipate having 4,500 associates in India by the end of 2004."