The German powerhouse bank explains why it uses both India and Russia for its offshoring needs. Russia's closer, for one thingDeutsche Bank (DB) is one of the world's largest banks and has long used outsourcing and offshoring, at various sites around the world, but this week it took its relationship with Russian IT services player Luxoft to a new level.
So why would it work with this supplier, at sites in Russia, rather than have more work carried out in its established offshore locations - such as Bangalore, Mumbai or Manila - where it has captive operations or works with local companies?
For DB's COO of technology for global banking, Daniel Marovitz, whose teams mainly work out of European locations such as the City of London in the UK and Germany, Russia represents what many call a near-shore option.
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