TROY, Mich., Sept. 30, 2009 (GLOBE NEWSWIRE) -- Syntel (Nasdaq:SYNT) today announced that it has been cited for its specialization in financial services in a new research report.
The independent Forrester report, by analyst Sudin Apte, states that "There are several midsize providers that clearly differentiate themselves based on a unique value proposition. They offer an incremental value-add, a unique specialization...that large companies will not normally be in a position to match."
Entitled "Why Do you Need Tier Two Providers? (And you Do Need Them!)," (September 2009) the report cites Syntel for its Banking and Financial services industry specialization, stating that "The players in this category build industry-specific knowledge and solutions. They focus their centers of excellence on harnessing business processes and domain capability."
According to Syntel, it has made significant investments in its suite of financial services solutions, developing targeted services and frameworks for online banking, risk management, fraud management, emerging payments, analytics, compliance, medical banking, trade processing and reconciliations, among others.
The report states that "Syntel, by emphasizing strong client-centricity, further reinforces its value to its clients beyond the simple relevance of its solutions."
Syntel CEO and President Keshav Murugesh remarked that Syntel's emphasis on customer service and "small enough to listen, big enough to deliver" attitude is resonating well with customers.
"Staying flexible and responsive to customers as we continue to grow is the cornerstone of our business model," said Murugesh. "What sets Syntel apart from larger players is that as an agile, more nimble organization, we are better able to truly partner with our clients, driving their operations and enabling them to achieve their business goals through our customized solutions."
The full report is available for purchase at www.forrester.com.
About Syntel
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. Recently named one of the "50 Best Managed Global Outsourcing Vendors" by The Black Book of Outsourcing, Syntel is assessed at SEI CMMi Level 5, and is ISO 27001 and ISO 9001:2000 certified. As of June 30, 2009, Syntel employed more than 11,300 people worldwide. To learn more, visit us at: www.syntelinc.com.
Safe Harbor Provision
This news release includes forward-looking statements, including 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 Form 10-K document dated March 12, 2009 and the Company's Quarterly Report on Form 10-Q for the period ending June 30, 2009.