IBM (NYSE:IBM) and BNP Paribas, today announced a 318M€ (exclusive of VAT) six-year agreement for their existing joint venture, BP²I, to support and manage the overall IT infrastructure operations of BNP Paribas' subsidiary office, Banca Nazionale del Lavoro (BNL) in Italy.
By extending BP²I to Italy, BP²I will be able to provide flexible solutions across both its French and Italian operations. BP²I will provide significant cost savings to the BNP Paribas Group by transforming BNL's IT infrastructure and aligning it with BNP Paribas' current infrastructure and standard processes. The agreement will also enable BNP Paribas Group to strengthen BNL's capabilities to better manage the globalization requirements of the retail banking business.
In signing this agreement, BNP Paribas is expanding its existing partnership with IBM, which began in 2004 when IBM proposed a new IT infrastructure management for BNP Paribas Group's Retail and Insurance branches across France, and in doing so, created BNP Paribas Partners for Innovation (BP²I), the IT Services company equally owned by BNP Paribas SA and IBM.
IBM is closely working with BNP Paribas Group, supporting its future business initiatives and global ambitions, while consolidating some of BNP's IT operations, securing resilience capabilities, improving productivity and helping it to deliver high quality services to its clients. Through this agreement, IBM will continue leveraging its global leadership, technology innovation and banking solutions knowledge, for the BNP Paribas Group.
“We are pleased about the extension of our partnership with IBM and of the scope of operations of our 50/50 joint venture, BP²I. As we progressively build a multi-domestic retail bank across Europe, it will be essential to create European competence centres in each of country, along with aligned processes to leverage the IT operations, all of which will be made possible through BP²I,” says Hervé Gouëzel, ”Président du Conseil de Stratégie et de Surveillance de BP²I”.
“BNP Paribas is known for being at the forefront of the international banking industry,” says Eric Auvray, IBM General Manager for Global Technology Services, Southwest Europe. “Along with being able to take advantage of IBM's knowledge and experience in the banking and consumer industry, this agreement will provide a flexible solution that will enable BNP Paribas and its subsidiary office Banca Nazionale del Lavoro, to adjust to the fast-changing demands of a competitive market. This new agreement underscores the strong relationship between both companies and our commitment to deliver the highest level of service excellence to BNP Paribas."
The agreement was signed in December 2008.About BNP Paribas
BNP Paribas (www.bnpparibas.com
) is a European leader in global banking and financial services and is one of the 3 strongest banks in the world according to Standard & Poor's. The group is present in 85 countries, with more than 171,000 employees, including 131.000 in Europe. The group holds key positions in three major segments: Corporate and Investment Banking, Asset Management & Services and Retail Banking. Present throughout Europe in all of its business lines, the bank's two domestic markets in retail banking are France and Italy. BNP Paribas also has a significant presence in the United States and strong positions in Asia and the emerging markets. About BNL
BNL, established in 1913, is a major Italian banking group and one of the best-known brands in
Italy. Today it is part of the BNP Paribas Group.
BNL, with approximately 900 points of sale in Italy, offers a wide range of products and services, from the traditional to the most innovative, to satisfy its clients' many requirements (private individuals and families, companies and the Public Administration).About BP²I
BP²I is a co-owned IT services company created by BNP Paribas and IBM in April 2004.
Its collaborative scope is focused on infrastructure services performance and the banking services know-how.
BP²I is considered as a strategic organization, which is supporting the growth and development of BNP Paribas from a technological and knowledge standpoint.About IBM
For more information on IBM, visit www.ibm.com/services