Commerzbank Explores Outsourcing Options
OUTSOURCING
FRANKFURT--Germany’s fourth-largest bank, Commerzbank, is exploring IT outsourcing options with three vendors including IBM for the bank’s investment banking division, officials from both companies confirmed last week.
A spokesperson for the bank says the firm is in preliminary outsourcing discussions with the vendors, in an effort to bring the bank’s costs down from €5.4 billion in 2002 to less than €5 billion this year. "IT is one area being looked at [to lower costs]," says the spokesperson.
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