FIC to set up new facility in Mangalore

Mangalore, Dec 7: First Indian Corporation (FIC), a wholly owned subsidiary of business information provider First American Corporation of the US, will expand its operation in India by setting up its third facility here by February next.

Announcing this at an interactive meeting, arranged by the Kanara Chamber of Commerce and Industry here, FIC Country Manager Anoop Hegde said the facility here would initially support transaction processing services for the US mortgage industry. At its initial stage, it would recruit about 250 local professionals and leverage the city's infrastructure to deliver services to its parent company.

He said the expansion to Mangalore represented the next phase of the firm's multiple-location strategic growth plan. ''We have successfully operated in Hyderabad and Bangalore for the past 12 years. The vast talent pool and transport facilities available in the city, besides other infrastructural facilities, have made the company select Mangalore though it had surveyed Chennai, Pune, Hubli, Dharwar and Mysore,'' he added.

The company had employed over 5,300 professionals in Bangalore and Hyderabad, providing a wide array of mission-critical software development, research, analysis, call centre and back office service to support First American's industry-leading positions in real estate and mortgage information. First American Company, a fortune 500 company with a revenue of 8.1 billion US Dollars in 2005, had about 2,100 offices manned by 35,000 employees.

UNI