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Commonwealth Bank enters into contract negotiations for the provision of application services

19 December 2007

The Commonwealth Bank today announced that it has undertaken a comprehensive review of its technology service delivery and management model to ensure it delivers customer service improvements and enhances the Group’s return on technology investment.

As part of its multi-sourcing strategy, the Bank will be moving towards a multi-vendor panel approach to the delivery of applications services to achieve greater contestability, flexibility and enhanced delivery capability across the applications portfolio. Multi-sourcing is regarded as global best practice, particularly on application development and management.

Following a rigorous tender process, the Bank has now entered into contract negotiations with HCL Australia Services Pty Ltd, IBM Australia Ltd and Tata Consultancy Services Ltd for the provision of applications services. All have extremely strong capabilities and are expected to provide the Bank with world class support and access to leading applications services.

EDS (Australia) Pty Ltd remains a strategically important and valuable partner of the Group having recently re-signed contracts for the delivery of desktop support, mainframe and midrange infrastructure to 2012, in addition to our newly launched credit card bureau platform.

Contracts with our new partners are expected to be finalised before the end of the year and the Bank plans to begin a transition process in the new-year.