Bank of Queensland has decided to source its voice, data and internet services from Telstra for another three years.
BoQ CIO Jim Stabback
The $21 million deal entails Telstra providing Bank of Queensland with services such as internet, fixed lines as well as mobile voice and data over its Next G and Next IP networks. The bank has had a relationship with Telstra for 10 years.
BlackBerry has also been included in the deal, with Telstra to provide the popular business handsets to increase bank productivity.
"After an exhaustive market review we determined that Telstra was the company best positioned to provide Bank of Queensland with the coverage, reliability and ongoing investment in technology ... to drive innovation and performance," Bank of Queensland CIO Jim Stabback said in a statement.
Telstra's Queensland director for enterprise and government Chris Lowe said the reliability of Next IP and Next G was behind the renewal. "By leveraging our networks, Bank of Queensland is able to increase executive mobility, productivity, accessibility and responsiveness across geographic locations and time zones. This, in turn, translates to increased agility and speed to market, enabling the bank to meet and exceed their customers' ever-increasing expectations for a second-to-none banking experience," he said.
Telstra also recently signed a 10-year $1 billion managed network services contract with Commonwealth Bank of Australia, while main rival Optus scored a five-year $500 million deal with Australia and New Zealand Banking group.
Bank of Queensland CIO Jim Stabback has been carrying out a war on cost as its answer to the current financial conditions. It has carried out a restructure in the attempt to achieve $20 million in savings. Bank of Queensland David Liddy had said in April that a sourcing review was the next step.