Laiki Bank extends infrastructure outsourcing deal

Cyprus-based Laiki Bank Australia has extended its infrastructure outsourcing agreement with KAZ Group for another five years.

Eight months from the end of an original three-year outsourcing contract with KAZ - under which Kaz managed the bank's IT infrastructure and got its systems running within seven weeks of launching here – the bank has re-signed a multimillion dollar deal, KAZ officials said.

Additionally, KAZ will supply the bank with facilities management for its iSeries system and network server environment, and offer support desk, disaster recovery and onsite technical support. Sydney-based Laiki Bank entered Australia's financial services sector in early 2001, opening five branches in Sydney, Melbourne and Adelaide.

Laiki Bank is part of the Cyprus-originated Laiki Group - an affiliate of the HSBC Group - which also operates in Greece, the UK, US, Canada, Russia, South Africa and Hong Kong.

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