Banco Espírito Santo, IBM, Outourcing, Cost Savings
Banco Espírito Santo And IBM sign 150m Euro IT services contract
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Banco Espírito Santo (BES), one of the major multi-specialist financial groups in Portugal, and IBM today announced a 150 million euro, 10-year outsourcing services agreement for IBM to manage the bank’s information technology infrastructure. The contract is expected to reduce the bank's IT infrastructure costs by 25%.
The contract with IBM includes management of the main information systems infrastructure of the BES Group, supporting the operations of Banco Espírito Santo, Banco BEST, Banco Espírito Santo dos Açores, Tranquilidade, Tranquilidade Vida and Espírito Santo Seguros. This follows a strategic move by the group towards greater flexibility, while simplifying processes and cutting IT costs.
The project begins this month.
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