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Bank makes ATM deposit with IBM

IBM Global Services signs a $160 million, seven-year deal with London-based Co-operative Bank to manage the firm's cash machine network.

Kim Girard
Kim Girard has written about business and technology for more than a decade, as an editor at CNET News.com, senior writer at Business 2.0 magazine and online writer at Red Herring. As a freelancer, she's written for publications including Fast Company, CIO and Berkeley's Haas School of Business. She also assisted Business Week's Peter Burrows with his 2003 book Backfire, which covered the travails of controversial Hewlett-Packard CEO Carly Fiorina. An avid cook, she's blogged about the joy of cheap wine and thinks about food most days in ways some find obsessive.
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Kim Girard
IBM Global Services today signed a $160 million, seven-year deal with London-based Co-operative Bank to manage the firm's cash machine network.

Through the deal, which is the largest automated teller machine network contract in Europe, IBM is expanding its five-year relationship with the Co-Operative Bank to include management of 600 existing ATMs and an estimated 350 more over the next two years.

IBM will provide all ATM service including network management, call center support, software development, and installation, and maintenance.

IBM will also estimate for the bank the amount of money needed in each ATM cash dispenser and is responsible for making sure all the ATM machines work.

The firm will also run a call center for the bank out of its Portsmouth, England, offices, which are staffed by 30 agents who assist bank employees.