Santander signs US$60mn IT services contract with IBM

- Tuesday, October 18, 2011

Santander signs US$60mn IT services contract with IBM

IBM Chile and local bank Santander Chile (NYSE: SAN) have signed a six-year IT services agreement for more than US$60mn, the entities said in a statement.

The agreement renews and expands the IT services that IBM has provided for the bank over the past 10 years.

IBM is currently responsible for managing and maintaining the bank's midrange platform, including more than 1,400 servers, as well as the on-site service help desk support for its 13,000 employees in Chile. Under this new agreement, IBM will continue providing these services, adding quality control capabilities as well as performance indicators to obtain execution metrics of task achievements.

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"We expect that the new services - currently being deployed by IBM - will allow us to meet our growth and client satisfaction objectives," said Angel Rebolledo, Santander's media manager.

Santander Chile is 75% owned by Spanish bank Santander (NYSE: STD).