IBM Global Services recently announced two outsourcing deals with financial institutions in Europe.
Bradford & Bingley, Britain's second-largest building society, signed a 10-year outsourcing contract valued at $168 million.
And nine savings banks in central Italy that are members of the Caricentro information systems consortium signed a 10-year, $240 million outsourcing deal with the International Business Machines Corp. unit.
IBM Global Services will manage Bradford & Bingley's data center, desktops, and help desk. About 40 Bradford & Bingley technology specialists will join IBM Global Services as a result of the deal.
For the Caricentro consortium, IBM Global Services will manage the banks' information technology functions and develop new software.
One of the main objectives is to prepare the Italian banks for the introduction of the euro and to meet year-2000 computer requirements.