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Payments General

IBM signs USD 540 mln agreement with Nordea

Wednesday 9 January 2019 | 12:40 PM CET

Nordea Bank will outsource its IBM Z operations to IBM in a USD 540 million multi-year agreement.

By outsourcing its majority of IBM Z infrastructure services in five countries, IBM says Nordea will have continued access to the latest technology advancements, including cognitive services.

The Nordea-IBM relationship began in 2003. As part of the latest agreement, a group of Nordea employees will transfer to IBM. No specifics on the number.

According to IBM, the managed service contract relies on an active relationship between the two companies. It differs from a previous mainframe contract, “having had the unique opportunity to write up a service level agreement based on first-hand experience of running the Nordea mainframe”.

Back in November 2018, IBM revealed that three new clients were running IBM Z and LinuxONE – Bank Zero, CaixaBank and KB Kookmin Bank.

More: Link
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