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: âWe have decided to extend our relationship with IBM because it has proven to be a trustworthy partner in the areas of people and technology.
âIBM 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.â
Harry van Dorenmalen, country general manager at IBM Netherlands, added that the project will ensure ABN Amro has a âmore flexible and cost efficient modelâ for their global business.
Meanwhile, the bankâs 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