Dutch public sector bank Bank Nederlandse Gemeenten (BNG) has signed a letter of intent to outsource its payment processing operations to IT services firm Ordina under a seven-year deal worth up to EUR85 million.
Under the agreement 80 staff from BNG's transaction processing operations will transfer to Netherlands-based Ordina.
Carel van Eykelenburg, a member of the executive bboard of BNG, says the deal with Ordina will enable the bank to quickly adapt services to changes such as the introduction of the Single Euro Payments Area (Sepa).
Ronald Kasteel, CEO of Ordina, says: "BNG's decision confirms to us that more and more financial institutions are seeking to outsource their back-office processes to independent service providers. The opportunity to add BNG to our portfolio of basic banking clients gives an enormous boost to our BPO initiative."