IBM, National Bank of Canada Sign CDN$1.1 Billion Outsourcing [...]

IBM, National Bank of Canada Sign CDN$1.1 Billion Outsourcing Agreement

📅 December 12, 2001 - IBM Canada Ltd. (can.ibm.com) and the National Bank ofCanada (nbc.ca) today announced the signing of a ten-year, $1.1 billion (CDN) IT outsourcing contract. IBM has been providing IT services to National Bank of Canada since 1994, and this new contract extends the relationship through 2011. Under the agreement, IBM Global Services will continue to manage the operations of the bank's IT infrastructure, including its Web environment and call centres.

The National Bank of Canada and IBM are also forming an initiative aimed atidentifying new leading-edge projects in the area of e-business. TheInnovation Team (or i-Team) will be comprised of a group experts from IBM'sresearch and consulting organizations who will help identify and buildinnovative business strategies. Specifics on how the i-Team will work arecurrently in the planning stages.
This agreement will allow IBM to "maintain a high-quality and securetechnical infrastructure while accelerating the transformation of the Bankinto an e-business. And with this increased flexibility and speed, we willbe able to respond to the growing needs of our clients with increasedefficiency," said Real Raymond, president and COO, National Bank of Canada.
"This contract expands on an important relationship for IBM in the Canadianbanking industry," said Ed Kilroy, president, IBM Canada. "We will leverageour expertise in technology and financial services to help the National Bankof Canada to continue providing world-class financial services to itscustomers."

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