27 Sep '13, 10am

Maybank Singapore signs $43M IT deal in backsourcing move

SINGAPORE--One of Malaysia's financial instituions, Maybank, has backsourced its IT operations here as a 10-year outsourcing contract comes to an end. Maybank Singapore signs $43M IT deal with Dimension Data and NTT Communications in a backsourcing move. (credit: Ryan Huang/ZDNet) At a joint signing ceremony here on Friday, Maybank Singapore announced a S$55 million (US$43 million) IT contract with Dimension Data and NTT Communications. This marks a new approach from when the bank outsourced its IT infrastructure in a RM1.3 million (US$402 million) deal with CSC Computer Services in 2003. That 10-year deal had covered both Singapore and Malaysia operations. The new deal will see an upgrade of infrastructure including moving from a Tier 2 to a Tier 3 data center, said Lim Kuo Siong, Maybank Singapore's head of IT and virtual banking. It's a move which the Monetary Authority...

Full article: http://www.zdnet.com/sg/maybank-singapore-signs-43m-it-de...

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