IT Observer - IBM Nabs $750M Deal with Lloyds TSB

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IBM Nabs $750M Deal with Lloyds TSB
Author: Jeremy C. Wright, Staff Writer
Tuesday, 07 December 2004, 19:49 GMT

Lloyds TSB has tapped IBM as the key provider for its massive new VoIP infrastructure project. The new project will make Lloyds TSB the owners of one of the largest converged voice and data networks in Europe, if not the world and will link all 70,000 of Lloyds’ phones as well as the branch and cash point infrastructure.

The contract with IBM calls for dedicated lines to support voice, data and transactional information for Lloyds’ European operations. The infrastructure project is expected to take as much as 20 months to complete.

"This project will allow us to increase the cost efficiency and enhance the flexibility of our IT infrastructure by providing staff with a more efficient and responsive service for our customers," said Igor Andronov, director of IT at Lloyds TSB.

VoIP is a technology used to deliver telephone services over a standard internet connection, reducing the need to install and maintain two separate networks, one for voice and one for data communications.

The deal is expected to allow Lloyds TSB to save millions of dollars in smaller feeds imposed by the myriad of providers which are currently serving the network – a deal which is effectively “economies of scale” at work.

It will also allow Lloyds TSB to deploy web-based or bandwidth-hungry applications that would not previously have been commercially viable due to the charges imposed by the current connectivity providers.

IBM will act as the strategic technology partner to the bank, while network integration and management to all Lloyds TSB branches and cashpoint machines will be provided by UK-based firm Vanco.

In a separate statement, Vanco said it estimated the value of the services it would supply over the seven years would total some £19.1m, not including circuits or equipment.

Friday, May 13, 2005

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