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March 21, 2004

E-Loan puts positive spin to offshoring

"Opt for India to get your work done faster": E-Loan; "Yes, we'd like that": customers

At a time when other US companies are playing it safe and even asking their offshore outsourcing service providers not to talk about their contracts, Pleasanton, CA-based online lender E-loan Inc. is putting a positive spin to its offshore outsourcing operation.

E-Loan has an outsourcing deal with a BPO services firm (reportedly, Wipro), under which the latter's employees located in India process requests for home equity loans made by E-Loan's US-based customers. Since early February, E-Loan has been expressly asking customers whether they would like to have their loans processed in the US or India. The company also tells customers that going for the India option, would mean that their loans get processed 2 days faster. E-Loan's testing has shown that 86% of customers prefer to go for the faster processing (read India) option.

Click Here to read E-Loan's press release about its new program.

Click Here to read a news agency PTI report based on an article Wall Street Journal.