CSC lands $342m outsourcing contract with Malaysia bank

Malaysia's Malayan Banking Berhad banking group will outsource a variety of IT tasks to Computer Sciences (CSC) in a 10-year deal valued at $342m (£216m).

CSC will take over management of the bank's mainframe, mid-range, desktop, help desk and network infrastructure in Malaysia and Singapore. It will provide the services mostly via its affiliates Computer Systems Advisers Berhad and CSA Automated.

As part of the deal, CSC and its affiliates will absorb about 320 bank employees.

Banks and other financial institutions have been outsourcing their IT to focus on their core business and cut costs because the financial services industry is under pressure from the economic slowdown and the need to create and market new services to clients with limited resources.

Juan Carlos Perez writes for IDG News Service