IBM and BNP Paribas have signed a 318 million euro (exclusive of VAT), six-year agreement for their existing joint venture, BPI.
The agreement aims to support and manage the overall information technology (IT) infrastructure operations of BNP Paribas’ subsidiary office, Banca Nazionale del Lavoro (BNL) in Italy.
By extending BPI to Italy, BPI will be able to provide flexible solutions across both its French and Italian operations. BPI will provide significant cost savings to the BNP Paribas Group by transforming BNL’s IT infrastructure and aligning it with BNP Paribas’ current infrastructure and standard processes.
Through this agreement, IBM will continue leveraging its technology innovation and banking software knowledge for the BNP Paribas Group.
“We are pleased about the extension of our partnership with IBM and ofthe scope of operations of our 50/50 joint venture, BPI,” says Herv Gouzel, president, Strategy Department, BPI. “As we progressively build a multi-domestic retail bank across Europe, it will be essential to create European competence centers in each of country, along with aligned processes to leverage the IT operations, all of which will be made possible through BPI.”
“Along with being able to take advantage of IBM’s knowledge and experience in the banking and consumer industry, this agreement will provide a flexible solution that will enable BNP Paribas and its subsidiary office Banca Nazionale del Lavoro, to adjust to the fast-changing demands of a competitive market,” says Eric Auvray, general manager, Global Technology Services, IBM, Southwest Europe.
“This new agreement underscores the strong relationship between both companies and our commitment to deliver the highest level of service excellence to BNP Paribas.”
L.D.