EDS merging Fleet sites into Bank of America`s voice and data network, creating a seamless communications infrastructure
EDS today announced an eight-and-half-year, $1.1 billion managed network services outsourcing agreement to integrate the communications infrastructure for recently acquired FleetBoston Financial into Bank of America`s state-of-the-art voice and data network. EDS assumed responsibility for the Bank of America network in early 2003 as part of a 10-year, $4.5 billion contract.
Once the integration is complete, Bank of America`s voice and data network will connect more than 180 000 associates, nearly 5 700 retail banking centres spanning 29 states and the District of Columbia, more than 16 500 ATMs, and facilitate Internet and telephone banking.
"This flexible and solid communications infrastructure supports our customers` escalating and increasingly complex banking needs and positions us for growth," said Don Obert, senior vice-president and technology services executive for Bank of America. "Bank of America has worked successfully with EDS, and this agreement to integrate communications throughout our franchise will enable us to provide the best products and services to our expanding group of retail and commercial customers worldwide."
In February 2003, EDS began transforming Bank of America`s nationwide voice and data communications infrastructure into a stronger and more flexible one-stop shop for voice and data services. EDS will provide these same services, including secure telecommunications and networking solutions using voice-over IP technology and helpdesk services for the additional 1 600 banking centre sites, plus ATMs and other locations. As a part of the agreement, approximately 150 former Fleet associates will transition to EDS.
"Bank of America is an industry leader in product delivery and customer service. We mirror that dedication to superior solutions and service," said Steve Schuckenbrock, EDS executive vice-president, Global Sales and Client Solutions. "We`ve set the pace. More than two-thirds of the bank`s original sites have been converted to the new infrastructure, and we are fully engaged to deliver the results that the bank and its customers expect and enjoy. We understand this work is a foundation for Bank of America`s growth strategy."
EDS in the financial industry
As a pioneer of IT services for the financial services industry, EDS provides a wide range of outsourced services from payments and securities processing to applications development and network, customer relationship management and help-desk services to all sectors of the industry. EDS`s work in the worldwide financial services industry accounted for approximately 16%percent of the company`s revenue in 2003. More than 15 000 EDS employees work on finance-related projects in 30 countries for Bank of America and clients such as ABN AMRO, Aegon, Aon, Bank of Canada, Barclays PLC, Caixa, CIBC, Commonwealth Bank Group, KBC, Korea First Bank, Lloyds TSB, Royal Bank of Scotland, Soci'et'e G'en'erale, Visa and Westpac.
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