IBM signs IT services agreement worth $5 million with Kotak Mahindra Bank
IBM has entered into a US$5 million IT services agreement with Kotak Mahindra Bank Limited (Kotak) to further strengthen latter’s position as one of the leading banking and financial services provider in India.
Under the arrangement, IBM will design, build and maintain a highly scalable, energy-efficient green data center as well as the converged IP network infrastructure for the client.
The company officials believe that, the solution being carried by IBM will also help Kotak save over US$1.2 million in operational efficiency and reduced energy costs over the next five years.
In addition, this implementation will help Kotak move towards a shared technology infrastructure services model across all its businesses.
It may be noted that Kotak Mahindra Bank and all the group companies, including Kotak Securities and Kotak Life Insurance, are expected to benefit from the latest data center and network infrastructure.