New venture to leverage on business process outsourcing opportunities in the region
Dubai: 25 March, 2008 - Noor Investment Group LLC has entered into a joint venture with leading business process outsourcing (BPO) company, Adventity BPO India Pvt. Ltd.
The joint venture will provide BPO services including, transaction processing, knowledge process outsourcing and call centre management services. The joint venture will primarily offer its services in the GCC, Middle East and North Africa region, as well as Pakistan.
Through the joint venture, Noor Investment Group will be able to leverage on Adventity's expertise in process management in the financial services sector including assets and liabilities, card products, insurance, fund administration, customer relationship management, settlement and reconciliation, advisory services and analytics.
Hussain Al Qemzi, Group CEO, Noor Investment Group said: "Noor Investment Group has been working with Adventity in the last few months in a consulting and BPO capacity.
"Based on our experience to date, we believe that there exists an opportunity to build a world class BPO company to service blue chip companies across the MENA region. This view is shared by Adventity and its Board of Directors, who view MENA as their primary growth market over the next several years."
This joint venture marks the first major investment by Adventity in Dubai and will involve the establishment of a dedicated delivery centre in the region. The aim of the joint venture is to address the growing need for state of the art outsourcing solutions for the financial services industry.
The joint venture will also offer clients the ability to leverage Adventity's recruiting and training pool in India.
Commenting on the occasion Kumar Subramanian, CEO of Adventity, said, "Our partnership with Noor Investment Group further strengthens our strong position in the Middle East North Africa region. This region has been of prime importance to Adventity and our new relationship offers us an ideal opportunity to further our investments in the Middle East and bring significant value and solutions to our customers globally. We are delighted to have been chosen by Noor Investment Group as a partner for the Middle East."
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Noor Investment Group
Noor Investment Group LLC (NIG) is a company focusing on investments in Sharia-compliant, banking, financial and related services. Headquartered in Dubai, NIG is currently executing aggressive growth plans to expand its portfolio of investments across global markets. Noor Islamic Bank PJSC ("NIB"), a full service commercial bank head quartered in Dubai is the flagship entity of, and the primary growth engine within, NIG. NIG is also currently in the process of establishing its Takaful business, which is to offer both Family and General Takaful.
About Adventity
Adventity is the fastest growing provider of strategic end-to-end knowledge and business process outsourcing (KPO/BPO) solutions to the banking, mortgage, financial services, airlines and travel industries globally. With offices in North America, Europe, Middle East and Asia, Adventity's clients include a broad range of Global 1000 companies as well as top investment banks, private equity firms, management consulting firms, multi-billion dollar asset managers and regional and global airlines.
Ranked amongst the Top 25 Best Managed Global Outsourcing Company by the 2007 Black Book of Outsourcing, Adventity provides comprehensive and cost-effective outsourcing solutions, including tailored research and analytical services, credit, debit and cash cards processing, loan origination and processing, underwriting, airline revenue accounting and recovery, fares distribution and customer contact support. The company's focus on customer excellence uses the most regimented processes, the highest caliber talent, deep domain knowledge and maximum information security to deliver end-to-end solutions.
Adventity is funded and supported by Norwest Venture Partners, CIBC Capital Partners, DA Capital and private investors.
Additional information can be found on the company's website: http://www.adventity.com
For more information on Noor Investment Group, please contact:
Ramy El Zein
Noor Investment Group
Tel: +9714 4268787
Email: ramy.elzein@noorbank.com
Maliha Aqeel
Jiwin Public Relations
Exclusive Affiliate of Burson-Marsteller in the Middle East
Tel: +9714 3613598
Mob: +97150 6331976
Email: maliha.aqeel@jiwin.ae
For more information on Adventity, please contact:
R.M. Sriram,
Mobile: +97150-6593237,
email: rmsriram@adventity.com
© Press Release 2008
