ABN Amro to extend contract with IBM

13 October 2010

Financial services provider ABN Amro has announced it will extend its contract with technology firm IBM.

The bank is planning to work with the IT solutions provider on integrating its infrastructure with the former Fortis bank after the two entities merged earlier in the year.

As part of the agreement, IBM is expected to develop a new technology environment and computing platform for the bank which is expected to improve communication as well as streamlining services.

Frans Woelders, chief information officer at ABN AMRO, said: “We have decided to extend our relationship with IBM because it has proven to be a trustworthy partner in the areas of people and technology.

“IBM will help us reach our goal of creating an integrated bank and will provide us with the tools and technology we need to prepare for the future of the banking industry.”

Harry van Dorenmalen, country general manager at IBM Netherlands, added that the project will ensure ABN Amro has a “more flexible and cost efficient model” for their global business.

Meanwhile, the bank’s private banking division is to work with Lxyor Asset Management to offer a new range of hedge fund services to its client-base.

By Jim Ottewill

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