June 9, 2004

IBM announces that it has secured IT services contracts with financial institutions HSH Nordbank, Plus Bank, BankBoston and Venezolano de Crédito.

HSH Nordbank and its subsidiary Plus Bank signed a five-year IT service agreement with IBM worth one million Euros.

Under the deal, IBM Global Services will design, host and operate several types of applications, including trading, security systems and SAP applications. IBM will also take over the operation of mainframe, server, and storage systems in two data centers.

Under the deal with BankBoston, IBM will assume the management and operation of BankBoston's data center LAN/WAN, and contingency services and security requirements.

The Venezolano de Crédito contract will be handled by IBM Venezuela. Under the deal, IBM will provide a full suite of business continuity services.

The deals build on IBM's recent momentum in the financial services industry. In April, IBM signed a five-year, $575 million extension with Morgan Stanley.

Source: The WHIR