Latest news with #Firstsource
United News of India
2 days ago
- Business
- United News of India
Firstsource to acquire UK's Pastdue Credit Solutions
Bengaluru, July 18, 2025 (UNI) Firstsource Solutions Limited, a leading provider of specialist domain-led Business Process Services and part of the RP-Sanjiv Goenka Group, today announced the signing of a definitive agreement to acquire Pastdue Credit Solutions, a prominent UK-based debt collection firm. The deal, subject to regulatory approval from the UK's Financial Conduct Authority (FCA), marks a strategic expansion for Firstsource in the growing UK collections market. RP-Sanjiv Goenka Group Chairman Sanjiv Goenka stated, "Pastdue Credit Solutions' deep expertise in first and third-party collections across sectors like utilities, financial services, and the public sector strengthens our capabilities in a critical and expanding market. This acquisition reflects our continued commitment to investing in UK talent and infrastructure." He emphasised that the acquisition aligns with Firstsource's long-term strategy to build a differentiated collections business with strong local delivery and sectoral depth. Pastdue Credit Solutions serves several market-leading UK institutions, including major banks, utilities, telecoms providers, and government entities. The UK collections industry, valued at over £1.9 billion, is experiencing surging demand for responsible and technology-enabled solutions amidst rising consumer debt and a growing reliance on private agencies in public sector collections. Commenting on the development, Phil Grant, Chairman of Pastdue Credit Solutions, said, 'We are proud to join Firstsource. Their global scale, digital-first capabilities, and strong culture of innovation offer immense potential to scale our impact and enhance our services.' Firstsource recently ranked third among Indian employers in the UK in the India Meets Britain Tracker 2025 by Grant Thornton, underscoring its ongoing investment and workforce commitment in the region. The transaction is expected to close following FCA approval. UNI BDN BM
News18
2 days ago
- Business
- News18
Firstsource to acquire UK-headquartered Pastdue Credit Solutions
New Delhi, Jul 18 (PTI) Firstsource Solutions on Friday announced it will acquire Pastdue Credit Solutions, a debt-collection business serving several of the UK's banks, utility firms, telecom companies, and government bodies. The acquisition is subject to Financial Conduct Authority (FCA) approval, said Firstsource Solutions, a provider of domain-led Business Process Services (BPS). The RP-Sanjiv Goenka Group company, however, did not divulge the financial details or size of the buy. Sanjiv Goenka, Chairman of RPSG Group and Firstsource, said, 'Pastdue Credit Solutions' deep expertise in first- and third-party collections, particularly across utilities, financial services, and the public sector, strengthens our capabilities in a space that is both critical and growing". The acquisition aligns with the company's long-term strategy to build a differentiated collections business with sectoral depth and local delivery capabilities across the UK, he added. The latest acquisition comes at an opportune time, it further said, citing the prospects in the UK collections market. By digital-first, AI-driven capabilities with local expertise, Firstsource said it is strongly positioned to scale with purpose, delivering value to clients, supporting public priorities, and expanding its footprint in a market poised for long-term growth. Phil Grant, Chairman of Pastdue Credit Solutions, said, 'With Firstsource's global reach, deep domain expertise, and strong culture of innovation, coupled with its long-established credentials in debt collection, this move will pave the way for us to scale our impact, strengthen our services, broaden our offering and unlock new opportunities together". PTI MBI MBI SHW (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: July 18, 2025, 20:00 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
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Business Standard
2 days ago
- Business
- Business Standard
Firstsource signs pact to acquire UK-based Pastdue Credit Solutions
Firstsource Solutions Limited, a part of the RP-Sanjiv Goenka Group, has announced a deal to acquire Pastdue Credit Solutions, a UK-based debt collection company, which serves several of the United Kingdom's (UK's) leading organisations, including major banks, utility providers, telecom firms, and government agencies. The acquisition is subject to UK's Financial Conduct Authority (FCA) approval, Firstsource announced in an exchange filing. Firstsource Solutions is a global provider of specialist Business Process Services (BPS), delivering end-to-end customer lifecycle solutions across industries such as healthcare, telecom and banking, financial services and investments (BFSI). Founded on July 21, 2005, Pastdue Credit Solutions offers white-label, early arrears, and debt collections and recovery services. Sanjiv Goenka, Chairman of RPSG Group and Firstsource, said, 'Pastdue Credit Solutions' deep expertise in first- and third-party collections, particularly across utilities, financial services, and the public sector, strengthens our capabilities in a space that is both critical and growing. This acquisition aligns with our long-term strategy to build a differentiated collections business with strong sectoral depth and local delivery capabilities across the UK.' Phil Grant, Chairman of Pastdue Credit Solutions, said, 'With Firstsource's global reach, deep domain expertise, and strong culture of innovation, coupled with its long-established credentials in debt collection, this move will pave the way for us to scale our impact, strengthen our services, broaden our offering and unlock new opportunities together.' The company aims to use artificial intelligence and digital-first approach, "With rising consumer debt, a growing role for private agencies in public sector collections, and over £1.9 billion in market opportunity. Firstsource is strongly positioned to scale with purpose - delivering greater value to clients and expanding its footprint in the market." Pastdue Credit Solutions was recently ranked third among top Indian employers in the UK, according to the India Meets Britain Tracker 2025 report by Grant Thornton. From November 2023 to October 2024, Pastdue Credit Solutions Limited reported a turnover of £16.9 million, marking a 40.8 per cent increase year-on-year, and an operating profit of £3.4 million, up 277.8 per cent YoY. From November 2022 to October 2023, the company recorded a turnover of £12.0 million, a 3.2 per cent decline from the year before, and an operating profit of £0.9 million, down 52.6 per cent. For the period from November 2021 to October 2022, turnover stood at £12.4 million, with an operating profit of £1.9 million.
Business Standard
30-05-2025
- Business
- Business Standard
Firstsource Launches Gigsourcing Platform to Transform the Future of Work
PRNewswire Mumbai (Maharashtra) [India], May 30: Firstsource Solutions Limited (NSE: FSL) (BSE: 532809), a leading global provider of transformational solutions and services and an RP-Sanjiv Goenka Group company, has announced the launch of the Firstsource Gigsourcing Platform, a next-generation crowdsourcing solution designed to revolutionize how enterprises leverage the gig economy. Part of the Firstsource relAI™ suite of AI-powered solutions, the Gigsourcing Platform connects businesses with skilled, on-demand global talent. It enables cost-effective, flexible, and scalable workforce models--helping organizations streamline talent management, boost operational efficiency, and stay competitive by addressing challenges in gig worker acquisition, management, and coordination. Ritesh Idnani, Managing Director & Chief Executive Officer at Firstsource, shared, "The Firstsource Gigsourcing Platform marks a pivotal milestone in our UnBPO™ journey, reimagining how enterprises operate and scale. As work becomes more decentralized and digital, our ability to blend AI-powered virtual agents, domain expertise, and a global freelance talent pool, empowers clients to move faster and smarter. This isn't just about workforce flexibility--it's about creating an entirely new operating model. We're committed to driving non-linear growth and measurable transformation for our clients, and this platform is a core enabler of that mission." The platform offers an intuitive experience for both, enterprises and independent professionals: * For businesses, the platform streamlines project creation, gig worker onboarding, and performance tracking, ensuring scalable execution and superior outcomes. * For gig workers, it offers seamless registration, project discovery, and automated payments, delivering a frictionless and rewarding work experience. Hasit Trivedi, Chief Digital & AI Officer at Firstsource, added, "The Firstsource Gigsourcing Platform represents the convergence of AI, digital platforms, and workforce innovation. It goes beyond just connecting businesses with gig workers - we are building a digitally intelligent, hyper-agile ecosystem. AI-led matching, workflow orchestration, and secure integrations make it a robust sourcing engine. This platform will fundamentally reshape how work is disaggregated, how sourcing is diversified, and how scale and precision are delivered. We see gig sourcing becoming a critical pillar of enterprise transformation - redefining workforce agility in the AI era and building the future of work." The Firstsource Gigsourcing Platform delivers unparalleled benefits with functionalities like: * Compliance-first onboarding: alignment with regional regulations and standards. * Comprehensive Control: efficient management of user groups roles, access, and notifications. * Qualification Tests: qualified freelancers selected with pre-requisite tests. * Gig worker Onboarding: simplified freelancer integration, including from external partners. * Third-Party Integration: single sign-On (SSO) enabled for streamlined operations. * Effortless Payments: hassle-free payment processes for gig workers. Additionally, the platform's SaaS capabilities provide: * Private Instance: enabling organizations to create their own exclusive freelancer crowd. * Insourcing Flexibility: facilitates internal resource allocation within the organization. This launch follows Firstsource's recent introduction of Agentic AI Studio, reinforcing Firstsource's commitment to transforming the future of work through innovation. Together, the Gig Sourcing Platform and Agentic AI Studio form a comprehensive foundation to reimagine how work is sourced, executed, and scaled. About Firstsource Firstsource Solutions Limited, an RP-Sanjiv Goenka Group company (NSE: FSL) (BSE: 532809) (Reuters: (Bloomberg: FSOL:IN), is a global leader providing transformational solutions and services spanning the customer lifecycle across Healthcare, Banking and Financial Services, Communications, Media and Technology, Retail, and other diverse industries. With a global footprint across US, UK, India, Philippines, Mexico, Romania, Turkey, Trinidad & Tobago, South Africa, and Australia, we 'make it happen' for our clients, solving their biggest challenges with hyper-focused, domain-centered teams and cutting-edge tech, data, and analytics. Our inch-wide, mile-deep practitioners work collaboratively, leveraging UnBPO™ - our differentiated approach to reimagining traditional outsourcing - to deliver real-world, future-focused solutions that drive speed, scale, and smarter decision, turning transformation into tangible results for our clients.
Business Upturn
29-05-2025
- Business
- Business Upturn
Firstsource Launches Gigsourcing Platform to Transform the Future of Work
By PR Newswire Published on May 29, 2025, 18:09 IST MUMBAI, India , May 29, 2025 /PRNewswire/ — Firstsource Solutions Limited (NSE: FSL) (BSE: 532809), a leading global provider of transformational solutions and services and an RP-Sanjiv Goenka Group company, has announced the launch of the Firstsource Gigsourcing Platform, a next-generation crowdsourcing solution designed to revolutionize how enterprises leverage the gig economy. Part of the Firstsource relAI™ suite of AI-powered solutions, the Gigsourcing Platform connects businesses with skilled, on-demand global talent. It enables cost-effective, flexible, and scalable workforce models—helping organizations streamline talent management, boost operational efficiency, and stay competitive by addressing challenges in gig worker acquisition, management, and coordination. Ritesh Idnani , Managing Director & Chief Executive Officer at Firstsource, shared, 'The Firstsource Gigsourcing Platform marks a pivotal milestone in our UnBPO™ journey, reimagining how enterprises operate and scale. As work becomes more decentralized and digital, our ability to blend AI-powered virtual agents, domain expertise, and a global freelance talent pool, empowers clients to move faster and smarter. This isn't just about workforce flexibility—it's about creating an entirely new operating model. We're committed to driving non-linear growth and measurable transformation for our clients, and this platform is a core enabler of that mission.' The platform offers an intuitive experience for both, enterprises and independent professionals: For businesses , the platform streamlines project creation, gig worker onboarding, and performance tracking, ensuring scalable execution and superior outcomes. , the platform streamlines project creation, gig worker onboarding, and performance tracking, ensuring scalable execution and superior outcomes. For gig workers, it offers seamless registration, project discovery, and automated payments, delivering a frictionless and rewarding work experience. Hasit Trivedi , Chief Digital & AI Officer at Firstsource, added, 'The Firstsource Gigsourcing Platform represents the convergence of AI, digital platforms, and workforce innovation. It goes beyond just connecting businesses with gig workers – we are building a digitally intelligent, hyper-agile ecosystem. AI-led matching, workflow orchestration, and secure integrations make it a robust sourcing engine. This platform will fundamentally reshape how work is disaggregated, how sourcing is diversified, and how scale and precision are delivered. We see gig sourcing becoming a critical pillar of enterprise transformation – redefining workforce agility in the AI era and building the future of work.' The Firstsource Gigsourcing Platform delivers unparalleled benefits with functionalities like: Compliance-first onboarding: alignment with regional regulations and standards. alignment with regional regulations and standards. Comprehensive Control: efficient management of user groups roles, access, and notifications. efficient management of user groups roles, access, and notifications. Qualification Tests: qualified freelancers selected with pre-requisite tests. qualified freelancers selected with pre-requisite tests. Gig worker Onboarding: simplified freelancer integration, including from external partners. simplified freelancer integration, including from external partners. Third-Party Integration: single sign-On (SSO) enabled for streamlined operations. single sign-On (SSO) enabled for streamlined operations. Effortless Payments: hassle-free payment processes for gig workers. Additionally, the platform's SaaS capabilities provide: Private Instance: enabling organizations to create their own exclusive freelancer crowd. enabling organizations to create their own exclusive freelancer crowd. Insourcing Flexibility: facilitates internal resource allocation within the organization. This launch follows Firstsource's recent introduction of Agentic AI Studio, reinforcing Firstsource's commitment to transforming the future of work through innovation. Together, the Gig Sourcing Platform and Agentic AI Studio form a comprehensive foundation to reimagine how work is sourced, executed, and scaled. About Firstsource Firstsource Solutions Limited, an RP-Sanjiv Goenka Group company (NSE: FSL) (BSE: 532809) (Reuters: (Bloomberg: FSOL:IN), is a global leader providing transformational solutions and services spanning the customer lifecycle across Healthcare, Banking and Financial Services, Communications, Media and Technology, Retail, and other diverse industries. With a global footprint across US, UK, India , Philippines , Mexico , Romania , Turkey , Trinidad & Tobago , South Africa , and Australia , we 'make it happen' for our clients, solving their biggest challenges with hyper-focused, domain-centered teams and cutting-edge tech, data, and analytics. Our inch-wide, mile-deep practitioners work collaboratively, leveraging UnBPO™ – our differentiated approach to reimagining traditional outsourcing – to deliver real-world, future-focused solutions that drive speed, scale, and smarter decision, turning transformation into tangible results for our clients. ( Logo: View original content: Disclaimer: The above press release comes to you under an arrangement with PR Newswire. Business Upturn takes no editorial responsibility for the same. PR Newswire is a distributor of press releases headquartered in New York City.
