The National Australia Bank (NAB) has finally revealed specifics surrounding its technology outsourcing deal with IT giant IBM.
The new deal will see IBM take over management of NAB's IT infrastructure, including mainframes, storage and hosting, desktop fleet management, printing, service desks and operating systems.
NAB wouldn't reveal the exact length of the deal with Big Blue, describing it only as a "multi-year arrangement".
NAB staff affected by the deal, 425 according to a Sydney Morning Herald report, have been offered positions by IBM, on what NAB said were comparable terms and conditions of employment. NAB said that the vast majority of these employees had accepted the offers.
"Keeping the bank safe as well as simplifying and improving our technology is a key strategic priority," said Gavin Slater, group executive of Group Business Services for NAB.
"Partnering with leading service providers is one way NAB is helping to achieve this," he added.
IDC analyst Matthew Oostveen said that time would tell how successful the deal would be for NAB. He added, however, that some of NAB's IT staff had been working with the company for so long it was becoming an "echo chamber in there" and that IBM's involvement could add new voices and ideas.