NEW DELHI, September 9, 2009: GE Capital announced today that GE Capital Business Process Management Services Private Limited, a joint venture company between GE Capital and State Bank of India for credit card operations, has won 'Asia's Best Mature Captive Services Delivery' award from the Shared Services Outsourcing Network (SSON) atthe 12th Annual Asian Shared Services & Outsourcing week in Singapore. This is the second Asian-level award in 2009 for an SBI Card operation. Earlier this year, SBI Card was voted as the most trusted brand in credit card category in the Reader's Digest Asia Trusted Brands 2009 Survey for the second year in a row.
GE Capital Business Process Management Services services 3 million cardholders of SBI Card. SBI Card is a joint venture between State Bank of India and GE Capital to offer Indian consumers a wide range of credit cards. It operates through two joint venture companies -- SBI Cards & Payment Services Pvt. Ltd., which focuses on the marketing and distribution of SBI Card, and GE Capital Business Processes Management Services Pvt. Ltd. Apart from servicing SBI Card customers, GE Capital Business Processes Management Services also services customers of several third-party loyalty programs in the country, including those of the Tata Group and the Indian Railways, and manages the back-office operations of over half a dozen partnership cards that are part of the SBI Card portfolio, including those with the Indian Railways, the Tata Group, Dena Bank and SpiceJet.
Anish Shah, President & CEO, GE Capital said, "The 10-year partnership between GE and SBI has successfully created one of the leading credit card operations in the country. This award is a testimony to the process excellence that has been achieved by this joint venture."
"We have continuously focused on understanding customer needs and driving value for SBI Card. We have been able to successfully leverage GE's global best practices in building a robust technology and human resources infrastructure that is well equipped to exceed the expectations of millions of customers, as we continue to increase our customer base through SBI's wide distribution network. We are delighted that the Shared Services & Outsourcing Network has recognized our capabilities and the work we have done," said Gautam Bose, CEO, GE Capital Business Process Management Services.
Diwakar Gupta, CEO, SBI Card said, "The Asia SSON award and the Reader's Digest award laud our customer focus and also strengthen our resolve to promote levels of greater transparency and customer service."
The Shared Services & Outsourcing Network is the largest and most established global community of over 12,000 shared services and outsourcing professionals, across 95 countries, and is a part of International Quality & Productivity Center, a world leader in offering more than 2000 conferences annually across more than 25 industries. SSON's annual excellence awards recognize and promote captive and outsourced shared services that demonstrate winning practices. These awards form the industry's benchmark in best practices and business excellence. The Shared Services Excellence Awards Asia 2009 boasted of an esteemed panel of judges from across organizations such as Citi, ANZ, Intel, SAP, HP, Credit Suisse, DHL and Google.
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About GE Capital India
GE Capital has been operating in India since 1993 and is one of the leading non-banking financial operations in India. GE Capital combines local understanding with the global reach of GE to provide end-to-end financial solutions to meet the diverse needs of Indian corporate and retail customers through a wide range of financial products and services. GE Capital's businesses in India are organized under various business units including those focused on corporate finance, asset-based lending, leasing, commercial distribution financing, energy and infrastructure projects financing, merger & acquisition financing, mortgages, loans and credit cards (through a ten-year-old strategic joint venture with State Bank of India).
About SBI Card
SBI Card is a joint venture between State Bank of India and GE Capital to offer Indian consumers extensive access to a wide range of world-class, value-added payment products and services. The partners have set up two joint venture companies to develop a credit card business in India -- SBI Cards & Payment Services Pvt. Ltd., which focuses on the marketing and distribution of SBI Card and GE Capital Business Processes Management Services Pvt. Ltd., which handles the technology and processing needs of SBI Card. Visit www.sbicard.com for more details
Contact:
Gayatri Rath
India Communications Leader, GE Capital
+91 124 4808918 / +91 9873691843
[email protected]
Poonam Tibrewal/Shipra Malhotra
Corporate Voice I Weber Shandwick for GE Capital
+91 9811029543 / 9873824699
[email protected]
[email protected]