IBM Signs IT Infra Deal with Gujarat Coop Bank

by CXOtoday Staff    Dec 28, 2009

IBM announced that it has signed a 10-year information technology services agreement with Sardar Bhiladwala Pardi People s Co-operative Bank in Gujarat.

The engagement, a complete operational expenditure (pay-as-you-go) model, is expected to enable the bank to save up to 50 percent in its capital expenditure on IT Infrastructure.

As part of the agreement, IBM will provide managed continuity services encompassing server management, network & security management, back up & database management.

IBM will manage the bank’s IT infrastructure requirements remotely from IBM s Global Management Centre in Bangalore. The end-to-end managed services provided by IBM will reduce upfront capital expenditure for the bank, allowing it to spend in an operational expenditure model over a 10-year period.

Hemant M Desai, MD of Sardar Bhiladwala Pardi People’s Co-operative Bank, said, "This model will set a good example for other cooperative banks for evaluating the core banking system with predictable and low expenditure as well as obtaining a high level of technology expertise."

According to Neeraj Sharma, director - Integrated Technology Services, IBM India/South Asia, "This is a strategic win since it is aligned to IBM’s geo-expansion initiative and our focus on helping financial services clients. With "