Continental, IBM Ink 10-Year Pact Banking's Biggest Outsourcing Yet
TECHNOLOGY
Continental Bank Corp. plans to hand over responsibility for most of its information technology operations to IBM's Integrated Systems Solutions Corp. (ISSC) subsidiary. Under a preliminary agreement signed last week, Continental expects to shave at least $100 million dollars, or more than 20 percent, from its technology budget over the life of the ten-year contract.
Worth well over $450 million, Continental's outsourcing deal is the banking industry's largest thus far and the first by a money
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