Zensar Technologies, a leading global IT and BPO services provider, today announced a centralized customer relationship management centre for Kotak Mahindra Bank, one of India's most reputed financial organizations. With an aim to creating a differentiated customer service and experience in the currently cluttered credit cards market, Kotak Mahindra Bank has decided to invest in building a specialized centre for CRM with Zensar for its credit card business.

Dr Ganesh Natarajan, Deputy Chairman and MD, Zensar and Chairman NASSCOM at the occasion said, “This partnership with Kotak is a strategic one for Zensar and we look forward to a significant scale up of this business to a 500 seat centre in the near future. This is the first engagement in the domestic market for our BPO business, reiterating our focus and belief in India as a market.”

The centre located at Zensar’s Pune campus would cater to activities such as customer acquisition, customer service, collections and retention for Kotak’s recently launched credit card product range. The operation commenced with 20 associates in April 2008, and has been scaled up to over 250 associates today. This centre will support Kotak cards’ business in ten cities across India with focus on customer experience as one of the key differentiators.

Subrat Pani, Business Head, Credit Cards, Kotak Mahindra Bank said, “With our suite of Simple & Powerful credit cards, we aim to make a difference in the aspirational Indian customer’s life. We as the credit cards industry have to do a lot to make it easier for customers to understand and use credit cards, and above all keep the cardholders happy. The set of people, processes and innovative technologies that we are working with at Zensar is aimed at creating that enhanced customer experience that we look forward to deliver consistently to our cardholders”.

Kotak Credit Cards is the newest addition to the wide array of financial services offerings of the Kotak Group. The card range on offer includes 2 Visa Gold Cards, a Visa Platinum Card and a Visa Signature Card. Kotak cards has taken a fresh approach on card design, and has introduced India’s 1st vertical card. With the CRM centre with Zensar, Kotak Cards is demonstrating its fresh approach to enhanced customer experience in the credit cards industry.

Hiren Kulkarni, Head of Zensar’s BPO said, “Zensar and Kotak are now looking at jointly addressing requirements of business continuity by setting up a 100 seater functional centre in Zensar’s Hyderabad facility. This facility will also address the Southern India market of Bengalooru, Hyderabad, Chennai and Coimbatore.”

Plans have been chalked out to establish dedicated communication infrastructure that will connect Kotak and Zensar’s data centre to host systems specific to Kotak’s business requirements. This is the first domestic account for Zensar in the BPO space exhibiting immense growth opportunities for the Company. The success of this Kotak-Zensar association will go into determining the future for Indian Financial Services and outsourcing industry.

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About Zensar Technologies (www.zensar.com)

Zensar Technologies is among the top 25 software services providers from India. Zensar is the world's first enterprise-wide SEI CMM Level 5 Company and now a CMMI Level 5 Company with industry expertise that spans Retail, Manufacturing, Banking, Finance, Insurance, Telecommunications, Utilities and Pharma. Zensar has more than 4000 employees with sales and operations presence across US, UK, Germany, Sweden, Finland, Middle East, South Africa, Hong Kong, Singapore, Australia, Japan and China. The Company delivers comprehensive services in mission-critical applications, enterprise applications, e-business, BPO and Knowledge Services. The Company has developed tools and methodologies, including the proprietary Solution BluePrint (SBP), which enables its clients with innovative business solutions and a rapid ‘go-to-market’ capability. The Company supports Fortune 500 clients with software business solutions that help them compete in the digital economy.

About Kotak Mahindra Group (www.kotak.com)

The Kotak Mahindra group is one of India's leading banking and financial services organizations, with offerings across personal financial services; commercial banking; corporate and investment banking, and markets; stock broking; asset management and life insurance. The Group has a net worth of Rs 5,824 Crores and assets under management to the tune of Rs 36,544 Crores (as of 31st March 2008). With a market capitalisation of around USD 5.4 Billion (As of March 31st, 2008); listed on the Bombay Stock Exchange), the Kotak Group employs around 20,000 (As of March 31st, 2008) people with over 1,350 offices, spread across 370 cities, and services around 4.4 million customer accounts across India. Kotak also has offices in London, New York, San Francisco, Singapore, Dubai and Mauritius.

Certain statements in this release concerning our future growth prospects are forward-looking statements which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. The Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.