Spanish bank La Caixa has extended its agreement with Electronic Data Systems Corp. to provide IT and business process outsourcing services for four more years in a deal valued at $240 million. Under terms of the deal, EDS will develop new banking and insurance software and applications architecture, the company said Tuesday. The IT service provider will also manage La Caixa's contact center, which supports the bank's branches. In addition, EDS will integrate mainframe, midrange and network operations. La Caixa runs 4,800 branches and 7,000 automated teller machines.

The renewed relationship with "la Caixa," on the heels of the contract with First International Bank of israel, demonstrates EDS' global operational excellence in the financial services industry, said Rafael Roa, President EDS Iberia. "Our relationship with 'la Caixa' illustrates our team's deep knowledge and experience of global financial services," said Roa. "EDS' proven industry expertise enables 'la Caixa's' continued growth, helping it take full advantage of technology and improved business processes to provide world-class service for customers."

Source: 1, 2Prashanth RaiTag(s):EDS, IT+Services, Outsourcing