The Commonwealth Bank of Australia and EDS announced the signing of a new information technology and telecommunications master agreement. Under the agreement, EDS will continue to deliver midrange, mainframe and storage solutions to the Commonwealth Bank until June 2012.
The new contract is valued at $350 million.
EDS’ 10-year contract with the Commonwealth Bank was the world’s largest financial-services outsourcing deal at its signing in 1997. The contract matures in October 2007.
The Commonwealth Bank is one of Australia’s leading financial institutions, with over 35,000 employees and 1,000 branches across the country.
Other major initiatives have included the refresh of 40,000 desktops, the rationalizing of 38 disparate consistent office environments to two and major upgrades to the ATM network.
