[Techtaffy Newsdesk]

IBM and Public Joint Stock Company (PJSC) Ukrsotsbank, part of UniCredit Group, have signed an agreement to outsource the bank’s information technology systems and processes to IBM.

As part of the 10-year agreement signed in December  2011 and valued at approximately $200 million, IBM will assume responsibility for the development and support of PJSC Ukrsotsbank’s information systems and applications as well as the management of the bank’s IT infrastructure.

Under the terms of the agreement, IBM will take over the management and maintenance of PJSC Ukrsotsbank’s application portfolio, data center systems, IT network, ATMs, end-user and deskside support. The move is designed to provide substantial benefits to PJSC Ukrsotsbank and its customers, as well as help the bank achieve significant operational savings.

PJSC Ukrsotsbank is one of the largest banks in Ukraine, providing retail, business, corporate and private banking services.