PLANO, Texas - EDS has signed an eight-and-half-year, $1.1 billion managed network services outsourcing agreement to integrate the communications infrastructure for recently acquired FleetBoston Financial into Bank of America's voice and data network.
According to a news release, the new deal is an extension of a 10-year, $4.5 billion contract signed in early 2003.
Once the integration is complete, Bank of America's voice and data network will connect more than 16,500 ATMs and nearly 5,700 retail banking centers in 29 states and the District of Columbia, and facilitate Internet and telephone banking.
EDS will provide telecommunications and networking solutions using voice-over IP technology and helpdesk services for the additional Fleet 1,600 banking center sites, plus ATMs and other locations.
As a part of the agreement, approximately 150 former Fleet associates will move to EDS.
"More than two thirds of the bank's original sites have been converted to the new infrastructure, and we are fully engaged to deliver the results that the bank and its customers expect and enjoy," said Steve Schuckenbrock, EDS executive vice president, Global Sales and Client Solutions. "We understand this work is a foundation for Bank of America's growth strategy."
