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El Monte extends services deal with IBM

Spanish savings bank El Monte has extended its existing IT services agreement with IBM for a further six years. IBM will now manage the bank's applications and central mainframe IT infrastructure until 2012.

The new contract extends the five-year deal signed in 2002 and includes a 25% increase in the power of the bank’s technology systems. The aim of the new agreement is to provide El Monte with more flexibility to respond to recent fast growth in the business and be prepared to meet the demands of future growth.

We want to delegate the management in a specialized company that will allow us to focus on our key business and have more control over the cost of these processes, said Manuel Lopez Casero, El Monte’s services and administration manager. This agreement will also allow us to grow and better respond to market changes counting on a flexible infrastructure and access, through IBM, to best practices in the market and also to cutting edge technologies.