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Australian Commonwealth Banks Signs IT&T Deal with EDS

The Commonwealth Bank of Australia and EDS has signed a new Information Technology and telecommunications Master Agreement, which will see EDS continuing to deliver midrange, mainframe and storage solutions to the Commonwealth Bank until June 2012, The new contract is valued at an additional USD 350 million.

EDS had entered into an agreement with the Commonwealth Bank in 1997 and the contract matures in October 2007.

On signing the agreement, Michael Harte, the Commonwealth Bank of Australia’s CIO said, "This is a significant first step in the Bank achieving its key objectives of more effective spend and improving customer outcomes. Our renewed relationship is built on collaboration and understanding, and of aligning our goals to achieve the Bank’s objectives."

Over the last eight years, EDS and the Commonwealth Bank have successfully embarked on a number of large initiatives in addition to ongoing business as usual. These initiatives have included the branch platform roll out of the Bank’s CommSee customer management system, the replacement of infrastructure for NetBank, the Colonial integration and end to end applications work for the Bank’s lending systems.

EDS provides a wide range of outsourced services from payments and securities processing to applications development and network, customer relationship management and helpdesk services to all sectors of the industry.


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