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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.

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.