The newly formed IT service provider to the Savings Banks Financial Groups in Germany, Finanz Informatik, has a five year extension to its deal with IBM to "streamline it into a new data center.
The contract is worth "triple-digit million Euros.
Finanz Informatik has been recently formed through the merger of Sparkassen Informatik and FinanzIT and provides IT services to 443 savings banks, ten state banks and ten building associations.
Once all German Savings Banks are migrated to OSPlus (FI's full-scope, flexible service-oriented banking solution), more than 200,000 bank employees will rely on the services provided by FI.
FI expects a multi-million Euro savings potential based on the synergistic effects that a unified IT infrastructure can bring. The contract builds on existing relationships that the previous organizations Sparkassen Informatik and FinanzIT had established with IBM in the past and lays the ground for future development.
"The extended agreement with IBM is an important building block for the future growth of Finanz Informatik," said Franz-Theo Brockhoff, Deputy Chairman of the Board of Finanz Informatik.
"Based on the long positive experience we have made with IBM and their infrastructure solutions and services, we feel well prepared for the future."
FI plans to use IBM's consultancy to move to an energy efficient, consolidated and flexible next generation of data centers.
Harald Fischer, Director Savings Banks Service Provider, Financial Services Sector, IBM Germany said:"We're pleased to continue our long relationship with Finanz Informatik to streamline their data center."