ING Group announced today that it has reached a final agreement with Astron, an RR Donnelley company, for the processing of banking and insurance documents in the Netherlands and Belgium.
The agreement follows the signing of the Memorandum of Understanding on 18 May 2006 and has a value of EUR 350 million based on a seven-year period. Approximately 750 employees in the Netherlands, Belgium and Poland will be transferred to Astron. The contract will take effect on 1 April 2007.
The agreement is the second outsourcing contract to be finalised within the Operations and IT efficiency programme that was announced on November 2, 2005.