IBM bags IT contract worth Rs 298 cr from IIFL

IBM has entered into 10 years strategic outsourcing agreement with India Infoline (IIFL), that will help IIFL deliver a higher level of customer satisfaction, strengthen its IT security framework and control IT operations, IBM said in a statement.

"With technology being the core of financial services business, we need to ensure high availability of predictable IT services in a highly regulated environment.

"IBM came up with an innovative commercial model that will provide a direct connection between business performance and IT costs, while enabling us to scale operations at short notices," IIFL Group Chief Technology Officer Sankarson Banerjee said.

Under this agreement, IBM will take over the complete IT operations of IIFL which will entail managing more than 700 IIFL branches spread across India.

The complete IT infrastructure at IIFL consists of more than 450 servers spread across five data centres and nine local server rooms with over 15,000 end user assets distributed across its branches.

"This strategic services deal with IIFL, will enable them to enhance their business value and gain competitive advantage through innovative use of technology.

"With our unparallelled domain expertise and technology competence, we are uniquely positioned to build a reliable & robust IT model to realise IIFL's infrastructure transformation objectives," IBM India/South Asia Director – Sales, Strategic Outsourcing, Global Technology Services Karthik Shivram said.

The project will also include a Wide Area Network that connects all IIFL offices to the corporate offices in Mumbai.

This collaboration would significantly improve customer experience for IIFL's end customers.

This is by ensuring higher uptime for its broking platform 'Traders Terminal', speedier response and resolution of any technology related issues, the statement said.
The scalable technology deployment will enable IIFL to roll out enhanced functionality in shorter time frames.

IBM will also set up a centralised help desk, roll out a pan-India desk side services capability to support users, applications and infrastructure in branches, and deploy service management processes to cover assets, IT security, and technology, among others.