Wells Fargo extends services pact with Genpact to December 2017

NEW DELHI: BPO major Genpact today said its master services agreement (MSA) with financial services major Wells Fargo has been extended through December 2017.

Under terms of the agreement, Genpact will continue to provide business process management services supporting Wells Fargo's business lines across the company, Genpact said in a statement.

"Genpact is honoured to provide business process management services to Wells Fargo for an additional five years," Genpact Senior Vice President and Business Leader (BFSI and Healthcare) Mohit Thukral said.

Financial details of the agreement were not disclosed. In 2005, Genpact had inked a seven-year pact with US-based Wachovia to set up an offshore operation to support the latter's business process outsourcing efforts. Wachovia was later acquired by Wells Fargo in 2008.

Currently, Wells fargo holds less than five per cent stake in Genpact.

Wells Fargo is a provider of banking, mortgage, investing, credit card, insurance, and consumer and commercial financial services.

Genpact has over 56,000 professionals around the globe delivering services to its more than 600 clients from a network of 67 delivery centres across 18 countries.