International Business Machines Corp. has renewed its contract to supply technology outsourcing services to Discover Financial Services through 2015.

The Armonk, N.Y., vendor said it would continue supplying management and support for Discover's technology operations while also investing in software, processing and storage technology.

The new contract was signed last month.

"The new agreement provides … [Discover] with the flexibility to meet the challenges present in the card business today while taking our relationship well into the next decade," Scott Morin, a vice president for the financial services sector in IBM's strategic outsourcing business, said in a press release last week.

Discover is based in Riverwoods, Ill.