BNP Paribas in £50m outsourcing deal

French banking giant BNP Paribas has signed a five-year, £50m contract with Atos Origin for IT services in France and the UK.

The deal is with BP²I, a joint venture between BNP Paribas and IBM set up in 2003 to oversee the provision of the bank's IT services.

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The contract includes the majority of IT services under the control of BP²I and includes the management of desktop services for the bank's investment banking business in the UK and retail banking in France. It will also act as a consultant with BP²I to deliver a framework for future IT service delivery.

The deal is an extension of an existing relationship which was limited to the retail banking business only.

BP²I UK country manager Thierry Bjalon said in a statement: "IT transformation is crucial to our business success and we have selected Atos Origin because of its position in financial services, its delivery track record and experience of managing desktop services solutions."

In October last year, the outsourcing specialist scooped a seven-year contract to supply a range of retail banking applications to Dresdener Bank in Germany, where 200 of the bank's IT staff were transferred to Atos.