ABN AMRO signs five IT vendors

IBM, Infosys, TCS, Accenture and Patni enter into five-year contract.

ABN AMRO has announced a major IT infrastructure development, signing five international vendors to a contract worth approximately EU1.8 billion.

Under the agreement IBM, Infosys, Tata Consulting Services TCS, Accenture and Patni will all reap the spoils of ABN AMRO's push to increase client satisfaction, provide higher operational efficiency, optimize operational risk and increase flexibility.

Described by the bank as a strategic move to improve company-wide IT capabilities, it is estimated that the agreement will save ABN AMRO up to EU258 million annually by 2007 and reduce the headcount of its global full-time equivalent IT staff from 5,000 to 1,500 within 18...

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