Bank of Canada signs on with EDS Canada

EDS Canada will provide the Bank of Canada all business operations supporting the sale, customer service and redemption of savings bonds issued by the Government of Canada, according to an agreement signed in June. The 9.5-year, $400 million deal takes effect on September 1, 2001.

EDS Canada president John Dowd announced that their objectives are to “lower the overall cost of the program while providing the same high level of service. This relationship will build increased flexibility into the Bank’s processes. It also accommodates changing program and marketplace needs, while anticipating future electronic business opportunities.”

The award to EDS Canada is the result of a competition initiated by the Bank of Canada in June 2000. About 500 Bank of Canada staff will join EDS Canada as part of the outsourcing agreement. Retail debt program operations will transfer to EDS Canada’s expanded office facilities in Ottawa.

Pointing to the seven-year, $227 million human resources outsourcing deal that EDS Canada signed with the Canadian Imperial Bank of Commerce in March, Michael Mansfield, executive vice-president of EDS Canada’s business process management line of business, said EDS Canada plans to market its business process capabilities aggressively.

EDS Canada has 8,000 employees at 61 locations across the country. EDS reported Canadian revenues of $1.65 billion in 2000.

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