News

FIS to provide full IT outsourcing for FirstBank Puerto Rico

March 21, 2013

Banking and payments technology firm FIS has signed a 7-year agreement with FirstBank Puerto Rico to assume full on-site responsibility for IT operations and staff. The outsourcing deal is the first of its kind for FIS in the Caribbean.

FIS will assume operational control of hardware and software upgrades, application management, skilled operations personnel, help desk and desktop services. Through the outsourcing agreement, the FI hopes to realize lower costs, greater efficiencies and full regulatory compliance.

"Our extended relationship with FIS enables us to take advantage of their expertise in managing complex IT infrastructures while ensuring that the technology continues to deliver the results we need for the customers we serve," said Aurelio Alemán, president and CEO of FirstBank Puerto Rico.

FIs are taking a closer look at IT systems and budget management as they seek to reduce hard costs and regulatory burdens, said Mark Davey, executive vice president of FIS international solutions group.

"[W]e're delivering innovative options that enable institutions to delegate these responsibilities without impacting the delivery commitments to their customers," he said. We're excited to leverage our trusted relationship with FirstBank Puerto Rico to deliver improved technology operations."

According to research firm Celent, financial institutions spend three-quarters of their budgets on maintenance, and will continue to do so through 2015 at least.

Read more about outsourcing.