Kyndryl signs $350M agreement to manage Core IT Operations
Feb. 9, 2022
MONTREAL, February 9, 2022 -- Kyndryl (NYSE: KD) today announced an extension of the agreement to manage Desjardins' infrastructure environment to drive improved efficiency, flexibility and scale for Desjardins' operations and growth through 2026.
As part of this agreement, Kyndryl will continue to manage and modernize Desjardins' mainframe environment. Additionally, Kyndryl will work to advance and diversify the resilience of Desjardins' infrastructure to support the always-on workloads that its customers and workforce require and expect. Kyndryl will also review Desjardins' IT hardware architecture and recommend ways to achieve new levels of efficiency and optimization.
"As the financial services landscape becomes increasingly competitive, we know it's critical that our customers can count on us to deliver operational stability, security, scalability, and availability – all within the context regulatory compliance”, said Xerxes Cooper, President of Kyndryl Canada. "Our relationship with Desjardins is founded on their trust in Kyndryl to support their fundamental business goals while helping drive new efficiencies and flexibility to transform how Desjardins operates and serves the evolving needs of its customers and workforce. "
The Desjardins Group is a Canadian financial services cooperative and the largest federation of credit unions in North America. It was founded in 1900 in Lévis, Quebec, and is the financial institution with the largest regional presence in Quebec and is well established in Ontario. Desjardins is the only financial institution present in 183 cities and towns in Canada and is also active in some 30 developing and emerging countries through Développement International Desjardins. Desjardins is a pioneer and leader in online and mobile banking services in Quebec.
Kyndryl (NYSE: KD) is the world's largest IT infrastructure provider. The company designs, builds, manages and modernizes the complex, mission-critical IT systems that the world depends on every day. Kyndryl's 88,449 employees serve more than 4,000 customers in more than 60 countries around the world, including 75% of the Fortune 100.
For more information, visit www.kyndryl.com.