iDLX ventures in India

Mr. Gus Blanchard, Chairman, President & CEO of the US $1.8 billion Fortune 1000 Deluxe Corporation will visit India between August 24-28, 1999. During this period, Mr. Blanchard will visit New Delhi, Chennai and Mumbai.

As a part of the visit, Mr. Blanchard, along with Dr. Nikhil Sinha, President and CEO, iDLX, will inaugurate iDLX's state-of-the-art Shared Services Centre in Gurgaon. In addition, Mr. Blanchard and Dr Sinha will announce significant investments in the financial services sector and detail out the company's business plans.

Mr. Blanchard's visit gains further significance in light of the fact that the prominent financial institutions in India are looking at IT-enabled services as the future of the industry.  NASSCOM has estimated revenues of Rs. 81,000 crore from such IT-enabled services by the year 2008.

A leading luminary of the financial services fraternity, Mr. Blanchard was appointed Deluxe's President and Chief Executive Officer in May 1995. He now serves as Chairman of his Board of Directors. His professional experience ranges over 25 years in reputed organisations including AT&T, where he last served as Senior Vice President responsible for national business sales. He has also served as Executive Vice President of General Instrument Corporation, a supplier of systems and equipment to the cable and the satellite television industry, apart from holding the position of Chairman and CEO of Harbridge Merchant Services, a credit card processing company in the US.

iDLX's business focuses on IT (Information Technology), Consulting and Business Process Outsourcing through a combination of offshore facilities in India and high quality on-site consulting in USA. Its clients include leading financial institutions. iDLX Technology Partners is a business unit of Deluxe Corporation, USA and provides technology and technology-enabled services to financial institutions. It has an employee strength of over 800 professionals based in India and in the US. Its software development center (SDC) in Chennai has over 300 professionals, and a second SDC is expected to be operational in the city within the next six to nine months.

Deluxe Corporation was founded in 1915. This US$ 1.8 billion Deluxe Corporation is a Fortune 1000 company headquartered in St. Paul, Minnesota, US. Its other business units include eFunds Corporation, Deluxe Paper Payment Systems and Deluxe Government Services.