Armonk, N.Y.-based IBM announced it has signed a 10-year, $200 million IT systems and processes outsourcing contract with Ukrainian bank PJSC Ukrsotsbank.
IBM will assume responsibility for the development and support of PJSC Ukrsotsbank's information systems and applications as well as the management of the bank's IT infrastructure. The bank said the deal will help it to improve customer service, increase performance efficiency and lower operational risk across its country-wide network of nearly 400 branches.
Under the terms of the agreement, IBM will take over the management and maintenance of PJSC Ukrsotsbank's application portfolio, data center systems, IT network, ATMs, end-user and desk-side support.
PJSC Ukrsotsbank, part of the UniCredit Group, has recently migrated to a new core banking system. The bank said the effectiveness of the new system, coupled with "break-away performance improvements" derived from the IBM collaboration, will create a powerful replicable model that can be exported to other UniCredit
Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as a municipal and courts reporter for daily newspapers in upstate New York, Bryan has ... View Full Bio