ISELIN, New Jersey and BANGALORE, India, September 17, 2013 /PRNewswire/ --
As a part of the multi-year contract, iGATE to establish a Testing Center of Excellence (TCoE) for Associated Banc-Corp
iGATE Corporation (NASDAQ:IGTE), the first Business Outcomes-driven integrated Technology and Operations (iTOPS) solutions provider, today announced that it has signed a multi-year deal to setup and establish a Testing Center of Excellence (TCoE) and provide quality assurance (QA) testing services for the IT applications portfolio of Associated Banc-Corp, one of the top 50, publicly traded, U.S. bank holding companies. Under the agreement this TCOE will perform testing services for all applications in the areas pertaining to Retail Banking, Commercial Banking, Private Client Services and Shared Services. As a part of the TCOE, iGATE will drive efficiencies by standardizing and centralizing the testing function through the introduction of proprietary tools and solutions resulting in year-on-year efficiency improvement.
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iGATE will be leveraging its deep domain experience and prior experience in setting up similar TCOE's to help deliver superior value to clients and enable business readiness through cost optimization, predictable quality, and improved speed to market.
Sanjaya Senanayake, Senior Vice President, Director of Technology Infrastructure, Associated Banc-Corp, said, "With the expanding complexities of business and increasing regulatory requirements, especially in the banking industry, testing plays a critical role to mitigate business catastrophes. iGATE's technology expertise coupled with our innovative products will allow us to offer a seamless and high-quality customer experience."
Commenting on this engagement with Associated Banc-Corp, Sanjay Tugnait, EVP, Head of Sales - North America and Global Head of Alliances, iGATE, said, "iGATE continues to be seen as a pioneer at multiple facets in the industry. This engagement adds another key milestone in our journey towards the success of our testing practice. This innovative platform and operating framework will become transferable to many of our other global clients in the BFSI sector and other Industries."
Through the TCoE, iGATE will provide a wide portfolio of testing services which includes setting up a centralized testing center of excellence which will cater to a wide array of testing services required by Associated Banc-Corp. The testing services provided include, but are not limited to, Sanity Test/Smoke Test, Functional Test, Interface Testing, System Integration Test, Regression Test, Mobile Application Test, DWH Testing, Test Automation, Non Functional Testing (Performance Testing, Security Testing).
Manish Sharma, AVP- Banking iGATE, added, "With this Testing Center of Excellence, iGATE will perform end to end testing for the bank's entire gamut of IT applications. The Testing COE framework is application and service line agnostic, which enables us to be transparent about the process and governance and then draw clear lines of responsibility and shared risk for all parties."
iGATE has a matured testing practice comprising of a team of over 2,600 testing professionals delivering projects for over 100 customers. Apart from having alliances with all major vendors for testing tools, iGATE has its own set of tools and solution frameworks to drive efficiencies and productivity improvements.
About Associated Banc-Corp
Associated Banc-Corp (NASDAQ: ASBC) has total assets of $24 billion and is one of the top 50, publicly traded, U.S. bank holding companies. Headquartered in Green Bay, Wis., Associated is a leading Midwest banking franchise, offering a full range of financial products and services through approximately 240 banking locations serving more than 150 communities throughout Wisconsin, Illinois and Minnesota, and commercial financial services in Indiana, Michigan, Missouri, Ohio and Texas. Associated Bank, N.A. is an Equal Housing Lender, Equal Opportunity Lender and Member FDIC. More information about Associated Banc-Corp is available at http://www.associatedbank.com.
About iGATE
iGATE Corporation is the first integrated technology and operations (iTOPS) company providing full-spectrum consulting, technology and business process outsourcing, and product and engineering solutions on a Business Outcomes-based model. Armed with over three decades of IT Services experience and powered by the iTOPS platform, iGATE's multi-location global organization has a talent pool of more than 28,500 employees and consistently delivers effective solutions to over 300 companies including Fortune 1000 clients spanning verticals such as: banking and financial services; insurance and healthcare; life sciences; manufacturing, retail, distribution and logistics; media, entertainment, leisure and travel; energy and utilities; public sector; and independent software vendors. Please visit http://www.igate.com for more information.
iGATE Corporation is listed on NASDAQ under the symbol "IGTE."
About Business Outcomes
iGATE's industry-first Business Outcomes-based approach focuses on the realization of tangible and measurable results, unlike traditional models which are driven by work, effort, time and manpower. By integrating technology and processes in a proprietary way and pricing services on results, iGATE exchanges fixed costs for a variable cost structure in an attempt to get clients to 'pay for results only' while enabling them to adjust to the peaks and valleys of their demand.
Forward-Looking Statements
Statements contained in this press release regarding the business outlook, the demand for the products and services, and all other statements in this release other than recitation of historical facts are forward-looking statements. Words such as "expect", "potential", "believes", "anticipates", "plans", "intends" and other similar expressions are intended to identify such forward-looking statements. Forward-looking statements in the press release include, without limitation, forecasts of market growth, future revenues, future expectations concerning growth of business, cost competitiveness and expansion of global reach following the acquisition, and other matters that involve known and unknown risks, uncertainties and other factors that may cause results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: difficulties encountered in integrating business; whether certain market segments grow as anticipated; the competitive environment in the information technology services industry and competitive responses to the Company's acquisition of iGATE Computer; and whether iGATE can successfully provide services/products and the degree to which these gain market acceptance. Furthermore, in connection with the iGATE Computer acquisition, the Company has borrowed significant amounts, including through the issuance of high yield notes, and will need to use a significant portion of its cash flows to service such indebtedness, as a result of which the Company might not have sufficient funds to operate its businesses in the manner it intends or has operated in the past. Additional risks relating to the Company are set forth in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2012, as well as the Company's other reports filed with the Securities and Exchange Commission. Actual results may differ materially from those contained in the forward-looking statements in this press release. Any forward-looking statements are based on information currently available to the Company and it assumes no obligation to update these statements as circumstances change. This document does not constitute an offer to purchase or to sell securities in any jurisdiction.
Media Contacts
Prabhanjan Deshpande "PD"
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