TROY, Mich., Nov. 13, 2009 (GLOBE NEWSWIRE) -- Syntel (Nasdaq:SYNT), a global information technology services and Knowledge Process Outsourcing (KPO) firm, today announced that it 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 climbed six spots to 34th on the list, which was chosen from a pool of technology providers that derive more than one-third of their revenue from the financial services industry. In all, 74 percent of Syntel's 2008 revenues were attributable to financial services, including both information technology and KPO solutions.
"Syntel's financial services revenue grew by 38% in 2008, which is substantially higher than our overall growth rate of 22%," said Syntel CEO Keshav Murugesh. "This acceleration is due to Syntel's investments in value added services for financial services firms, including our robust risk and compliance offering, as well as custom KPO and domain specific services for retail and commercial banking, cards and payments, capital markets and insurance."
The FinTech 100 are evaluated based on calendar year revenues and the percentage of revenues exclusively attributed to financial services.
For more information about the rankings, visit www.financial-insights.com/fintech or view the FinTech Special report at http://www.americanbanker.com/fintech100/.
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 September 30, 2009, Syntel employed more than 11,400 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 September 30, 2009.