The news follows last week’s groundbreaking $2.2bn multi-vendor outsourcing deal from Dutch bank ABN AMRO, which included an initial $125m for Infosys for application maintenance work.
The CBA contract is scheduled to be signed later this month and is estimated to be worth up to $30m. The bank currently has a 10-year, $3.8bn IT outsourcing contract with EDS, which expires sometime in mid-2007. CBA hopes to cut costs by shifting some of its systems outsourcing to developing countries.
The Financial Review also reports that CBA has asked Indian firms to look into a potential BPO engagement, the manual process used to correct errors during overnight reconciliation of banking channels.
