Canada's Laurentian Bank has signed a new six-year IT outsourcing contract, worth C$30 million, with IBM.
The new deal is an extension of an existing four-year agreement for managed IT services.
Under the agreement, IBM will continue to manage technology for the bank's back office operations and ATM network, as well as systems for wealth management, mutual funds and commercial lending.
Commenting on the new contract, Denis Chalifour, director, IBM Global Services, Quebec, says: "We can offer new technology that increases the power and flexibility of the IT resources the bank needs, while charging Laurentian only for the resources it actually uses."