This is a large outsource deal from Credit Suisse. I would expect more Banks to do this. Large Banks have networks the size of small countries and as may people to manage them. There really is no competitive advantage in that space for a Bank.
Financial services giant Credit Suisse is outsourcing the operation of its critical data and communications networks to British telecom provider BT Group and Swiss telco Swisscom under a deal worth $1.1 billion, BT disclosed Monday.
In a statement, Credit Suisse CIO Tom Sanzone said the deal will allow the bank to access state-of-the-art telecom technologies, such as wireless and mobile communications tools, faster and more cost effectively than it could through its in-house organization.
Source: Bank Systems & Technology : Credit Suisse Outsources to BT in Deal Worth $1.1 Billion
