EDS signs $1.1bn outsourcing deal with Bank of America

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EDS signs $1.1bn outsourcing deal with Bank of America

Electronic Data Systems has signed a $1.1bn (£597m) outsourcing deal with Bank of America BoA) that will extend an existing pact eight and a half years.

Under the agreement, an addition to a 10-year, $4.5bn deal EDS signed with BoA in late 2002, EDS will integrate FleetBoston Financial's communication infrastructure into BoA's voice and data network.

"In December 2002, we signed an agreement with BoA to create a seamless global network for the bank that connected their employees around the world, their retail banking centres, their ATMs, their internet banking and help desk support." said EDS spokesman Terry Balluck. "We're about 18 months into the integration of that network, which is about two-thirds complete."

Once the FleetBoston integration is complete, BoA's voice and data network will connect more than 180,000 associates, nearly 5,700 retail banking centres in 29 states and the District of Columbia, and more than 16,500 ATMs, and it will make internet and telephone banking easier.

The contract will integrate FleetBoston's network and backbone into the BoA network to allow the financial institution to seamlessly sell products, as well as exchange data and information, Balluck said.

"The network integrates the entire communications infrastructure across BoA in order to support the rapid rollout of new technologies, new products," he said.

"Bank of America has worked successfully with EDS, and this agreement to integrate communications throughout our franchise will enable us to provide the best products and services to our expanding group of retail and commercial customers worldwide," said Don Obert, BoA's senior vice-president and technology services executive.

As part of the agreement, approximately 150 former Fleet employees will move to EDS.

Linda Rosencrance writes for Computerworld

Related Topics: IT outsourcing, VIEW ALL TOPICS

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