<Page>

                                                                  Exhibit 10.17

                        THIRD LOAN MODIFICATION AGREEMENT

     This Third Loan Modification Agreement (this "Loan Modification
Agreement") is entered into as of September 9, 2003, by and between SILICON
VALLEY BANK, a California-Chartered bank, with its principal place of
business at 3003 Tasman Drive, Santa Clara, California 95054 and with a loan
production office located at 9701 West Higgins Road, Suite 150, Rosemont, IL
60018 ("Bank") and KANBAY INTERNATIONAL, INC. (successor to Kanbay LLC), a
Delaware Corporation ("Kanbay International"), with its principal place of
business at 6400 Shafer Court, Suite 100, Rosemont, IL 60018, KANBAY
INCORPORATED, an Illinois Corporation ("Kanbay Inc."), with its principal
place of business at 6400 Shafer Court, Suite 100, Rosemont, IL 60018, KANBAY
EUROPE LTD. a company formed under the laws of the United Kingdom ("Kanbay
Europe"), with its principal place of business at Compass House, Vision Park,
Histon, Cambridge, UK CBD 9AD, KANBAY AUSTRALIA PTY. LTD., a company formed
under the laws of Australia ("Kanbay Australia"), with its principal place of
business at 602 Whitehorse Road. Mitcham, Victoria 3132, Australia, MEGATEC
PTY. LTD., a company formed under the laws of Australia ("Megatec"), with its
principal place of business at 602 Whitehorse Road, Mitcham, Victoria 3132,
Australia, and KANBAY HK LTD., a company formed under the laws of Hong Kong
("Kanbay HK"), with its principal place of business at 12th Floor Shiu Fung
Hong Bldg., Suite 1201, 23 Wing Lok Street, Sheung Wun, Hong Kong (Kanbay
International, Kanbay Inc., Kanbay Europe, Kanbay Australia, Megatec and
Kanbay HK being sometimes herein called collectively the "Borrowers" and each
individually a "Borrower").

1.   DESCRIPTION OF EXISTING INDEBTEDNESS AND OBLIGATIONS. Among other
indebtedness and obligations which may be owing by Borrower to Bank, Borrower is
indebted to Bank pursuant to loan arrangement dated as of April 19, 2000,
evidenced by, among other documents, a certain Loan and Security Agreement dated
as of April 19, 2000, between Kanbay LLC, a Delaware limited liability company
("Kanbay LLC"), Kanbay Inc., Kanbay Europe, Kanbay Australia, Megatec, Kanbay HK
and Bank, as corrected and conformed by a certain Correction Agreement dated as
of May 1, 2000, as amended by a certain Loan Modification Agreement dated as of
March 30, 2001, and as further amended by a certain Loan Modification Agreement
dated as of April 20, 2002 (as amended, the "Loan Agreement"). Capitalized terms
used but not otherwise defined herein shall have the same meaning as in the Loan
Agreement.

2.   DESCRIPTION OF COLLATERAL. Repayment of the Obligations is secured by the
Collateral as described in the Loan Agreement (together with any other
collateral security granted to Bank, the "Security Documents").

Hereinafter, the Security Documents, together with all other documents
evidencing or securing the Obligations shall be referred to as the "Existing
Loan Documents".

3.   DESCRIPTION OF CHANGE IN TERMS.

     A.   MODIFICATIONS TO LOAN AGREEMENT.

          1.   The Loan Agreement shall be amended by deleting the
               following text appearing in Section 2.1.1 thereof, entitled
               "Letters of Credit".

                         "Bank will issue or have issued Letters of Credit for
                         Borrower's account not exceeding (i) the lesser of the
                         Committed A/R Revolving Line or the Borrowing Base
                         minus (ii) the outstanding principal balance of the
                         Advances made under the Committed A/R Revolving Line,
                         but the face amount of outstanding Letters of Credit
                         (including drawn but unreimbursed Letters of Credit and
                         any Letter of Credit Reserve) may not exceed
                         $250,000.00."

                    and inserting in lieu thereof the following:

                         "Bank will issue or have issued Letters of Credit for
                         Borrower's account not exceeding (i) the lesser of the
                         Committed A/R Revolving Line or the Borrowing Base
                         minus (ii) the outstanding principal balance of the
                         Advances made under the

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                         Committed A/R Revolving Line, but the face amount of
                         outstanding Letters of Credit (including drawn but
                         unreimbursed Letters of Credit and any Letter of Credit
                         Reserve) may not exceed $3,500,000.00."

               2.   The Loan Agreement shall be amended by deleting the
                    following text appearing in Section 2.3 thereof, entitled
                    "Revolving Line Interest Rates, Payments":

                         "Advances made under the Committed A/R Revolving Line
                         accrue interest on the outstanding principal balance at
                         a per annum rate of one percentage point above the
                         Prime Rate."

                    and inserting in lieu thereof the following:

                         "Advances made under the Committed A/R Revolving Line
                         accrue interest on the outstanding principal balance at
                         a per annum rate equal to the aggregate of the Prime
                         Rate, and one half of one percent (0.5%)."

               3.   The Loan Agreement shall be amended by deleting the
                    following definitions appearing in Section 13.1 thereof:

                         ""Committed A/R Revolving Line" is an aggregate Credit
                         Extension of up to a total of $3,000,000.00.

                         "Prime Rate" is Bank's most recently announced "prime
                         rate", even if it is not Bank's lowest rate.

                         "Revolving Maturity Date" is April 19, 2003."

                    and  inserting in lieu thereof the following:

                         ""Committed A/R Revolving Line" is an aggregate Credit
                         Extension of up to a total of $7,500,000.00.

                         "Prime Rate" is the greater of: (a) 4.0% and
                         (b) Bank's most recently announced "prime rate", even
                         if it is not Bank's lowest rate.

                         "Revolving Maturity Date" is April 30, 2004."


               4.   Notwithstanding anything in the Loan Agreement to the
                    contrary, Borrower shall deliver the financial statements
                    required pursuant to Section 6.2(a)(i), as soon as available
                    but no later than thirty (30) days after the last day of
                    each: (a) quarter, and (b) month during which any Credit
                    Extension is requested or outstanding.

               5.   Notwithstanding anything in the Loan Agreement to the
                    contrary, Borrower shall deliver the Compliance Certificate
                    required pursuant to Section 6.2(c), within thirty (30) days
                    after the last day of each: (a) quarter, and (b) month
                    during which any Credit Extension is requested or
                    outstanding.

               6.   Notwithstanding anything in the Loan Agreement to the
                    contrary, the Quick Ratio covenant set forth in
                    Section 6.7(a) and the EBITDA covenant set forth in Section
                    6.7(c) shall be tested as of the last day of each:
                    (a) quarter and (b) month during which any Credit Extension
                    is requested or outstanding.

               7.   Bank and Borrower agree that Committed Guaranteed Revolving
                    Line has been terminated.

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     B.   WAIVERS.

          1.   Bank hereby waives Borrower's existing defaults under the Loan
               Agreement by virtue of Borrower's failure to comply with the
               financial reporting requirements set forth is Section 6.2(a)(i)
               thereof as of the months ending March 31, 2003, April 30, 2003,
               and May 30, 2003. Bank's waiver of Borrower's compliance of said
               affirmative covenant shall apply only to the foregoing specific
               periods.

4.   FEES. The Borrower shall also reimburse Bank for all legal fees and
expenses incurred in connection with this amendment to the Existing Loan
Documents.

5.   RATIFICATION OF STOCK PLEDGE AGREEMENT. Borrower hereby ratifies, confirms
and reaffirms, all and singular, the terms and conditions of a certain Stock
Pledge Agreement dated as of April 19, 2000 between Borrower and Bank, and
acknowledges, confirms and agrees that said Stock Pledge Agreement shall remain
in full force and effect.

6.   ADDITIONAL COVENANTS. Borrower shall not, without providing the Bank with
thirty (30) days subsequent written notice: (i) change its jurisdiction of
organization, or (ii) change its organizational structure or type, (iii) change
its legal name, or (iv) change any organizational number (if any) assigned by
its jurisdiction of organization.

7.   CONSISTENT CHANGES. The Existing Loan Documents are hereby amended wherever
necessary to reflect the changes described above.

8.   RATIFICATION OF LOAN DOCUMENTS. Borrower hereby ratifies, confirms and
reaffirms all terms and conditions of all security or other collateral granted
to the Bank, and confirms that the indebtedness secured thereby includes,
without limitation, the Obligations.

9.   NO DEFENSES OF BORROWER. Borrower hereby acknowledges and agrees that
Borrower has no offsets, defenses, claims, or counterclaims against Bank with
respect to the Obligations, or otherwise, and that if Borrower now has, or ever
did have, any offsets, defenses, claims, or counterclaims against Bank, whether
known or unknown, at law or in equity, all of them are hereby expressly WAIVED
and Borrower hereby RELEASES Bank from any liability thereunder.

10.  CONTINUING VALIDITY. Borrower understands and agrees that in modifying the
existing Obligations, Bank is relying upon Borrower's representations,
warranties, and agreements, as set forth in the Existing Loan Documents. Except
as expressly modified pursuant to this Loan Modification Agreement, the terms of
the Existing Loan Documents remain unchanged and in full force and effect.
Bank's agreement to modifications to the existing Obligations pursuant to this
Loan Modification Agreement in no way shall obligate Bank to make any future
modifications to the Obligations. Nothing in this Loan Modification Agreement
shall constitute a satisfaction of the Obligations. It is the intention of Bank
and Borrower to retain as liable parties all makers of Existing Loan Documents,
unless the party is expressly released by Bank in writing. No maker will be
released by virtue of this Loan Modification Agreement.

11.  COUNTERSIGNATURE. This Loan Modification Agreement shall become effective
only when it shall have been executed by Borrower and Bank (provided, however,
in no event shall this Loan Modification Agreement become effective until signed
by an officer of Bank in California).


            [THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK]

<Page>

     This Loan Modification Agreement is executed as a sealed instrument under
the laws of the Commonwealth of Massachusetts as of the date first written
above.

BORROWER:

KANBAY INTERNATIONAL, INC.                   KANBAY AUSTRALIA PTY. LTD.


By: /s/ William Weissman                          By: /s/ William Weissman
   ------------------------------------               -------------------------
Name: William Weissman                            Name: William Weissman
     ----------------------------------                 -----------------------
Title: VP & CFO                                   Title: Director
      ---------------------------------                  ----------------------


KANBAY INCORPORATED                          MEGATEC PTY. LTD.


By: /s/ William Weissman                          By: /s/ William Weissman
    ------------------------------------              -------------------------
Name: William Weissman                            Name: William Weissman
     ----------------------------------                 -----------------------
Title: Director                                   Title: Director
      ---------------------------------                   ---------------------


KANBAY EUROPE LTD.                           KANBAY HK LTD.


By: /s/ William Weissman                          By: /s/ William Weissman
   ------------------------------------               -------------------------
Name: William Weissman                            Name: William Weissman
      ----------------------------------                -----------------------
Title: Director                                    Title: Director
       ---------------------------------                  ---------------------


BANK:

SILICON VALLEY BANK

By:
   ------------------------------------
Name:
     ----------------------------------
Title:
      ---------------------------------

<Page>

CORPORATE RESOLUTIONS FOR
AMENDING LOAN ARRANGEMENT

William Weissman, being the Secretary of KANBAY INCORPORATED, a corporation
duly organized, validly existing, and in good standing under the laws of the
State of Illinois, CERTIFIES that the following resolutions were adopted

CHECK       []      at a duly called and conducted meeting of the Directors of
ONE                 said corporation held on ______________ at which a quorum
                    was present and voting throughout,

            [xx]    by the unanimous consent of the Directors of said
                    corporation, the originals of which consents having been
                    placed with the records of meetings of Directors of said
                    corporation,

and are in conformity with the Certificate of Incorporation and By-Laws of
said corporation (each as amended to date) and that each of the following
resolutions presently is in full force and effect without change:

AMENDMENT OF LOAN ARRANGEMENT

RESOLVED,   That this corporation amend its loan arrangements with Silicon
            Valley Bank (hereinafter, with any successor, the "Bank") in such
            manner as has been or is hereafter discussed and negotiated by and
            between the Bank on the one hand and any of the following, acting
            on behalf of this corporation, on the other:

Insert title, only, if
Persons to act on behalf of
corporation have titles.
Otherwise, insert names.

In connection with the foregoing, each of said officers and/or persons, acting
as described above, is authorized to execute, seal, acknowledge, and deliver
in the name of and on behalf of this corporation such instruments, documents,
and papers which relate thereto as may be appropriate, each in such form and
upon such terms as the officer(s) and/or person(s) so authorized determines,
such execution and delivery to be conclusive of such officer'(s) and/or
person'(s) authority so to act in the name of and on behalf of this
corporation.

DELEGATION OF AUTHORITY

RESOLVED,   That any one of the officers and/or persons authorized by the
            foregoing Resolution, acting singly, may by written instrument
            furnished the Bank delegate to any other officer or person the
            same authority which is vested singly and individually by said
            Resolution in the person(s) or officer(s) so delegating authority,
            which written delegation shall be in such form as may be requested
            by the Bank and may be subject to such restrictions and
            limitations as may be indicated thereon.

CONTINUATION OF AUTHORITY

RESOLVED,   That all resolutions and delegations relative to the authority of
            any officer or person to act on behalf of this corporation shall
            remain in full force and effect until the Bank's receipt of
            written notice of the revocation or modification of such authority
            from the person signing below as the Secretary of this corporation
            or from that person whom the Bank reasonably believes to be
            authorized to act in this regard on behalf of this corporation.

                                       1
<Page>

RATIFICATION OF PRIOR TRANSACTIONS

RESOLVED,   That all action heretofore taken on behalf of this corporation
            and all instruments, documents, and papers heretofore executed in
            the name of and on behalf of this corporation concerning this
            corporation's relationship with the Bank be, and they hereby are,
            approved, adopted, and ratified. This corporation shall indemnify,
            defend, and hold the Bank harmless of and from any loss,
            liability, or damage the Bank may suffer or incur on account of
            this corporation's relationship with the Bank.

REVOCATION OF INCONSISTENT RESOLUTIONS

RESOLVED,   That any and all resolutions of this corporation which may be in
            conflict with any of the foregoing resolutions be, and they hereby
            are, revoked.

RESOLVED,   That the resolutions of this corporation's Directors concerning
            this corporation's relationship with and borrowing from Silicon
            Valley Bank (the "Bank"), with offices at One Newton Executive
            Park, Suite 200, 2221 Washington Street, Newton, Massachusetts,
            pursuant to which, among other things, this corporation may be
            granting the Bank a security interest or other collateral in and
            to, and/or mortgaging, all or any portion of the assets of this
            corporation, be, and said resolutions are hereby approved, adopted,
            and incorporated herein by reference.

                       PERSONS PRESENTLY AUTHORIZED TO ACT

I further CERTIFY that the following persons presently are authorized under
the preceding Resolutions to act:

<Table>
<Caption>
    NAME                          TITLE               SPECIMEN SIGNATURES
--------------------------------------------------------------------------------
<S>                        <C>                    <C>






</Table>

     IN WITNESS WHEREOF, I have set my hand and the seal of this corporation
on this 9th day of September, 2003.

     (Corporate Seal)                   /s/ William Weissman
                                        ----------------------------------------
                                        Secretary

                                        Print Name:  William Weissman
                                                   -----------------------------

     If the foregoing Resolutions confer authority upon the Secretary, this
Certificate should be confirmed by another officer of the corporation.

                                        CONFIRMED:
                                                  ------------------------------

                                        Print Name:
                                                   -----------------------------

                                        Title:
                                              ----------------------------------

                                       2
<Page>

CORPORATE RESOLUTIONS FOR
AMENDING LOAN ARRANGEMENT

William Weissman, being the Secretary of KANBAY INTERNATIONAL, INC., a
corporation duly organized, validly existing, and in good standing under the
laws of the State of Delaware, CERTIFIES that the following resolutions were
adopted

CHECK       []      at a duly called and conducted meeting of the Directors of
ONE                 said corporation held on ______________ at which a quorum
                    was present and voting throughout,

            [xx]    by the unanimous consent of the Directors of said
                    corporation, the originals of which consents having been
                    placed with the records of meetings of Directors of said
                    corporation,

and are in conformity with the Certificate of Incorporation and By-Laws of
said corporation (each as amended to date) and that each of the following
resolutions presently is in full force and effect without change:

AMENDMENT OF LOAN ARRANGEMENT

RESOLVED,   That this corporation amend its loan arrangements with Silicon
            Valley Bank (hereinafter, with any successor, the "Bank") in such
            manner as has been or is hereafter discussed and negotiated by and
            between the Bank on the one hand and any of the following, acting
            on behalf of this corporation, on the other:

Insert title, only, if
Persons to act on behalf of
corporation have titles.
Otherwise, insert names.

In connection with the foregoing, each of said officers and/or persons, acting
as described above, is authorized to execute, seal, acknowledge, and deliver
in the name of and on behalf of this corporation such instruments, documents,
and papers which relate thereto as may be appropriate, each in such form and
upon such terms as the officer(s) and/or person(s) so authorized determines,
such execution and delivery to be conclusive of such officer'(s) and/or
person'(s) authority so to act in the name of and on behalf of this
corporation.

DELEGATION OF AUTHORITY

RESOLVED,   That any one of the officers and/or persons authorized by the
            foregoing Resolution, acting singly, may by written instrument
            furnished the Bank delegate to any other officer or person the
            same authority which is vested singly and individually by said
            Resolution in the person(s) or officer(s) so delegating authority,
            which written delegation shall be in such form as may be requested
            by the Bank and may be subject to such restrictions and
            limitations as may be indicated thereon.

CONTINUATION OF AUTHORITY

RESOLVED,   That all resolutions and delegations relative to the authority of
            any officer or person to act on behalf of this corporation shall
            remain in full force and effect until the Bank's receipt of
            written notice of the revocation or modification of such authority
            from the person signing below as the Secretary of this corporation
            or from that person whom the Bank reasonably believes to be
            authorized to act in this regard on behalf of this corporation.

                                       1
<Page>

RATIFICATION OF PRIOR TRANSACTIONS

RESOLVED,   That all action heretofore taken on behalf of this corporation
            and all instruments, documents, and papers heretofore executed in
            the name of and on behalf of this corporation concerning this
            corporation's relationship with the Bank be, and they hereby are,
            approved, adopted, and ratified. This corporation shall indemnify,
            defend, and hold the Bank harmless of and from any loss,
            liability, or damage the Bank may suffer or incur on account of
            this corporation's relationship with the Bank.

REVOCATION OF INCONSISTENT RESOLUTIONS

RESOLVED,   That any and all resolutions of this corporation which may be in
            conflict with any of the foregoing resolutions be, and they hereby
            are, revoked.

RESOLVED,   That the resolutions of this corporation's Directors concerning
            this corporation's relationship with and borrowing from Silicon
            Valley Bank (the "Bank"), with offices at One Newton Executive
            Park, Suite 200, 2221 Washington Street, Newton, Massachusetts,
            pursuant to which, among other things, this corporation may be
            granting the Bank a security interest or other collateral in and
            to, and/or mortgaging, all or any portion of the assets of this
            corporation, be, and said resolutions are hereby approved, adopted,
            and incorporated herein by reference.

                       PERSONS PRESENTLY AUTHORIZED TO ACT

I further CERTIFY that the following persons presently are authorized under
the preceding Resolutions to act:

<Table>
<Caption>
    NAME                          TITLE               SPECIMEN SIGNATURES
--------------------------------------------------------------------------------
<S>                        <C>                    <C>






</Table>

     IN WITNESS WHEREOF, I have set my hand and the seal of this corporation
on this 9th day of September, 2003.

     (Corporate Seal)                   /s/ William Weissman
                                        ----------------------------------------
                                        Secretary

                                        Print Name:  William Weissman
                                                   -----------------------------

     If the foregoing Resolutions confer authority upon the Secretary, this
Certificate should be confirmed by another officer of the corporation.

                                        CONFIRMED:
                                                  ------------------------------

                                        Print Name:
                                                   -----------------------------

                                        Title:
                                              ----------------------------------

                                       2