Banca di Roma and EDS have signed a major 10-year outsourcing deal worth approximately $1.5 billion (R7.5 billion). This constitutes Italy`s largest IT outsourcing contract to date. Under the terms of the agreement the Bank Group (Banca di Roma, Banca Nazionale della Agricoltura and Banca Mediterranea) data centres, the network, the desktop technology and specific business applications will be run by EDS. EDS will apply best-of-class global methodologies, tools and processes to build efficiency and competitiveness into all of the bank`s IT systems. A shareholder agreement has also been signed which will see EDS take a position as a core shareholder, along with EnteCassa di Risparmio di Roma and Toro Assicurazioni. Under this agreement EDS will take a seat on the Banca di Roma board of directors and will maintain its 2% shareholding in the bank. Commenting on the deal Vincenzo Damiani, a member of the EDS Europe, Middle East and Africa board and chief executive of EDS Italy, said: "This is a signal partnership for both EDS and Banca di Roma. We firmly believe that our skills and experience in the financial services sector across the globe will enable us to help the bank to maximise its competitive advantage for the 21st century and lead the banking industry in Italy." Cesare Geronzi, president of Banca di Roma said: "We view the partnership with EDS very enthusiastically. We want to apply world class skills to the bank`s technology and in EDS we have the pre-eminent global player." The new contract will be rolled out over the next few weeks with EDS taking an operational role from the middle of this year. Editors Notes EDS has wide experience in the financial services industry, and the contract with Banca di Roma adds to more than $6 billion (R30 billion) of business signed in this sector in 1997. EDS has been traditionally strong in financial services, in South Africa as well as elsewhere in the world. Here at home it provides card processing services for Standard Bank, cheque processing for FNB, and has been appointed to create and manage a Customer Service Centre for Nedcor Bank. In the USA, EDS works with companies such as Citibank, where it manages the bank`s global network; Banc One Corporation, where the 10-year relationship has seen EDS work with the bank in a variety of areas; and First Union Corporation where EDS provides mission critical systems engineering and credit card processing. EDS is the largest non-bank owner of automated teller machines - it owns more than 5 800 ATMs located throughout the country, and provides processing support for more than 11 000 ATMs in the US. In Australia, EDS last year signed a major outsourcing deal with the Commonwealth Bank of Australia, in terms of which the bank took a 35% shareholding in EDS Australia. In the UK EDS is responsible for the Royal Bank of Scotland`s cheque processing, and in Belgium it works with Kriedietbank and ING Bank in a range of disciplines. In Spain, La Caixa is one of EDS` key customers, while the company also works with Banco Santander and Deutsche Bank. In Germany EDS is taking care of Deutsche Bank`s preparations for year 2000, in France it works with Societe Generale, and in the Nordic region Den Norske Bank is one of its customers. In the UK and in Switzerland EDS has partnered with Credit Suisse Group, building a relationship which has seen the acquisition of Citymax in the UK and Fides in Switzerland. In all cases EDS strives to supply best practice and innovative thinking to enable its banking customers to compete more effectively in their marketplace, and to supply their customers with products and services most applicable to their needs. EDS, the official information technology services provider for World Cup 1998, is a leader in the global information services industry. The company`s approximately 110 000 employees specialise in applying a range of ideas and technologies to help business and government customers improve their finances, products, services and relationships. EDS, which serves customers in 44 countries, reported revenues of $15.2 billion in 1997. The company is independent and publicly owned, and its stock is traded on the New York Stock Exchange and the London Stock Exchange. EDS can be visited via the Internet at http://www.eds.com, and EDS Africa at http://www.za.eds.com.
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