The managed service office will provide reconciliation, corporate action and cash management services for the client, which has not been named.
SmartStream has transferred the bank’s operations and processes to the new site, and will manage the its Jaipur and Bangalore sites
The client was previously managed from SmartStream’s Bangalore office, but the move is intended to provide increased business continuity and resilience.
The new office will be managed by Nick Smith, senior vice president of managed services at SmartStream.
Smith said: “We are delighted to service our major client initially from our Bangalore campus and now our brand new location in Jaipur, where we have the necessary infrastructure for a managed service offering and an excellent talent pool—hiring the best people for the job is one of the key advantages of this office.”
“Since the opening there has been an incredible amount of interest from other financial institutions. Our goal is clearly to service our clients with the best technology and the fully trained staff who can provide the best quality service”.