IBM and Barclays forge £35 million alliance
17 August 2001 | 3728 views | 0
IBM and Barclays Bank have entered a multi-million pound deal in which the bank will use IBM's software portfolio to help build its e-business infrastructure. The agreement is worth up to £35 million over the next three years.
Based on IBM's middleware - using products from Lotus, Tivoli, DB2 and IBM's WebSphere platform, a series of projects will be implemented to improve customer sales and service, giving staff fast and comprehensive information at their finger tips.
Key projects will focus on Business Internet Banking - which will be powered by WebSphere - as well as the building of new delivery platforms in Barclays European businesses. In addition, under this contract IBM will also be modernising Barclays infrastructure.
David Weymouth, Barclays CIO, says: "This alliance with IBM will improve our speed of execution and, in the long run, enable us to provide our customers with significantly improved products and services."
Under terms of the agreement, payment to IBM is aligned to individual project success and there will be flexibility for Barclays to move investment from one product set to another if required.
The bank will also have direct access to a network of IBM 'laboratory advocates' to ensure optimum use is made of the all the latest IBM products and to ensure early input into the future direction of Barclays' software development.