DBS signs 10-year outsourcing agreement with IBM

500 staff in Hong Kong and Singapore to leave the bank for Big Blue.

DBS Bank and IBM have announced an agreement in which DBS will outsource selected IT services and infrastructure in Singapore and Hong Kong to IBM. The nominal value of the contract is estimated at about S$1.2 billion $679 million for Singapore and Hong Kong over the next 10 years.

IBM will consolidate and enhance DBS' data centers in Singapore and Hong Kong, provide an integrated 247 customer helpdesk support, manage many of DBS' current applications, and provide systems management disciplines across the bank. DBS' IT group will continue to be responsible for IT services not included in the outsourcing, namely, IT strategy and architecture, IT security and strategic projects....

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