Allied Irish Bank has extended its trade services outsourcing contract with ABN Amro for another five years to 2012
The renewal of the deal comes a year ahead of the expiration of the original five-year pact. The contract requires ABN Amro to provide comprehensive trade finance services to AIB's clients via TradeAccess, a private-labelled version of the Dutch bank's MaxTrad portal.
Terry Danaher, head of trade finance services at AIB attributes the success of the project to a flexible working relationship between the two banks.
He adds: "Regular benchmarking and client feedback have shown our clients enjoy an even higher level of customer service through this outsourcing partnership,"
Danaher says the bank is exploring opportunities to expand the scope of the contract to include other areas of the business.