EDS has signed a $1.1bn managed network services outsourcing agreement to integrate the communications infrastructure for recently acquired FleetBoston Financial into Bank of America's voice and data network.
Under the new eight-and-a-half year contract, approximately 150 former FleetBoston staff will be transfered to EDS.
Once the integration is complete, EDS says Bank of America's voice and data network will connect more than 180,000 associates and nearly 5,700 retail banking centres as well as support the bank's Internet and telephone banking services.
EDS already provides the bank with managed network services as part of a 10-year, $4.5bn contract signed in December 2002. The vendor will provide these same services - including secure telecommunications and networking systems using voice-over IP technology and helpdesk services - for the additional 1600 Fleet banking centre sites, as well as ATMs and other locations.
Don Obert, senior vice president and technology services executive for Bank of America, says: "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."