The Bank of Queensland has confirmed reports it is currently conducting due diligence on four companies competing to become the bank's new outsourced IT provider.
As previously reported by iTnews, IT services had previously been combined with business process outsourcing in a contract worth $480 million over ten years, which HP's Electronic Data Systems (EDS) arm was awarded in 2002.
The contract was extended for a further two years in 2005 at an additional cost of $140 million. Under the deal EDS looked after all IT infrastructure, applications, business process services and customer and sales service requests for the bank.
The Australian Financial Review reports the bundle was recently broken up into two contracts, the BPO component which was again awarded to HP last year.
As first reported by The Australian Financial Review this week, BoQ is now studying four vendor bids for the IT services business.
The bank confirmed to CRN that due dilligence was currently underway but declined to name the parties involved, beyond confirming that current provider HP was one of the bidders.
The spokesperson told CRN BoQ expected the process to continue for the next few months.
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