Mar, 2003 : IBM, National Bank Financial Sign IT Deal

📅 March 4, 2003 - Computing service provider IBM Canada (ibm.ca) announced on Tuesday that it has signed a $200-million, eight-year IT agreement with National Bank of Canada subsidiary National Bank Financial, intended to transform the bank's brokerage services through IBM's technology expertise.

The new agreement builds on an relationship that has existed for more than 25 years, says IBM, between National Bank Financial and IBM's brokerage services division, Securities Industry Services. Under the new agreement, IBM will design, build and operate new processes in the application and IT operations service area, enabling National Bank Financial to focus on its core business while driving growth in key areas.
The new services being provided include managing National Bank Financial's application suite, improving response times at customers services centers, managing IT operations and introducing new Web-based offerings and workflow tools.
"We have developed a solid partnership with IBM over the years and this new step demonstrates our desire to improve our operational efficiency and expand our functional capabilities," explains David Wood, EVP and CAO of National Bank Financial. "We want to be ready to respond to new market trends and enhance the quality of our services. We appreciate IBM's expertise and wish to invest in our business relationship to improve our processes."
As a result of the deal, 115 of National Bank Financial's employees will join IBM in Montreal and Toronto.

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