IBM inks 10-yr pact with Kurmanchal Bank

Technology leader IBM said it has signed a 10-year outsourcing agreement with Nainital-based Kurmanchal Nagar Sahakari Bank to host and manage its IT infrastructure.

As part of the agreement,IBM will remotely host and manage the IT infrastructure,manage the disaster recovery site and provide entire networking infrastructure for the bank,IBM said in a statement.

IBM is aggressively increasing its focus on the small and medium businesses in the country,including those based in smaller cities.

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Kurmanchal Bank plans to expand its banking network from 17 existing branches to nearly 35 over the next two years.

IBM’s services will greatly reduce the burden of upfront capital expenditure for the Bank as the agreement allows it to spend in an operational expenditure model over a 10-year period,it said.

“We believe their technology expertise and focus on delivering cost-efficient solutions would help us achieve our growth strategy and higher levels of customer satisfaction,” Kurmanchal Bank Chief Executive Officer Manoj Sah said.

Through this agreement,IBM will host and manage Kurmanchal Bank’s entire IT infrastructure from its own data centre in Bangalore.

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