IBM confirms 10-year outsourcing deal with Lloyds

IBM has confirmed signing a 10-year agreement with UK-headquartered Lloyds Banking Group to provide cloud services. IBM will provide both dedicated hosting on cloud data centers in the UK and will also manage application migration services where the cloud transition is expected to take three years. With this development, employees of Lloyd’s infrastructure technology group supporting systems will transition over to IBM. But staff that support the relationship, service, and governance of IBM will remain at Lloyds, as the company positions to offer scalable and up-to-date technology on demand.