Lloyds Bank signs huge outsourcing deal with IBM

Lloyds Bank has signed a £1.3 billion contract with IBM, in a 10-year outsourcing deal that will see 1,900 jobs switched to the computing giant. According to The Register, the bank reportedly told its staff that it has “signed one of the largest cloud transformation deals” within the financial sector, where “most colleagues working in Infrastructure Technology Services supporting these systems and delivering change will transition to IBM, with a number retained in Lloyds Banking Group to manage the relationship, service and governance of IBM”.