TOKYO -- Japan's Sumitomo Mitsui Financial Group (SMFG) will consolidate systems development operations at a new company in India in October as part of a broader effort to reduce overlapping functions across regions and cut costs.
Finance
Sumitomo Mitsui to shift systems development, back-office work to India
Consolidated hub seen saving $60m-plus yearly, eventually growing to 1,000 employees
Sumitomo Mitsui plans to consolidate systems development and support work at a new company in Chennai, India. (Photo by Nikkei)
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