HengTian Services was formed to provide IT Staff Augmentation and Application Development Services in North America, as a natural complement and extension of our offshore joint venture.
That joint venture, Insigma HengTian Software, Ltd. (located in Hangzhou, China), is the basis for our current success in IT Outsourcing of Application and Software Development today. And it was born out of the need for innovative ways to create a competitive advantage for State Street Corporation.
In 2001, State Street Corporation had a goal to create a diverse research and development team that would provide State Street with very cost-effective and extremely high quality IT research on advanced projects using China’s labor market. Through an alliance with Zhejiang University, the initiative provided State Street the resources they needed, and gave the University access to technology and domain knowledge resident in a globally competitive financial services firm. This access would, in turn, enhance the University’s own Computer Science curriculum. Needless to say, the venture was a complete success.
As a growing number of organizations sought to make use of State Street’s China development resources, State Street decided it was time to create a commercial enterprise to work on internal and external projects. State Street partnered with a Technology leader in China, Insigma Technology, thereby forming Insigma HengTian Software Ltd. And today, HengTian Services utilizes those innovative resources to expand its reach into new segments of the marketplace.