Hewlett Packard has won a seven year outsourcing contract, worth CDN$420m to upgrade and manage TD Bank's national network of ATMs and payment systems.
According to a report by The Canadian Press news agency, HP Canada will upgrade 2400 TD ATMs across the country, as well as the bank's payments processing systems. Under the contract, about 50 TD Bank staff will transfer to HP Canada.
HP will also be responsible for data centre operations and support desk services for the bank.
New ATMs will be supplied by Diebold while payments processing and other services will be provided by ACI Worldwide, Intria Items and Phoenix Interactive Design.
TD Bank says the deal will produce significant business advantages, such as a shift from fixed to variable costs, risk reduction and increased efficiency.