ING has signed a memorandum of understanding (MOU) with a group of suppliers consisting of Accenture, Atos Origin, Getronics and KPN. The MOU covers the outsourcing of workplace services of ING's banking and insurance operations in the Netherlands and Belgium.
Workplace services to be covered by the agreement include the installation, maintenance and support of desktops, laptops, printers and telephones.
The final contract with the suppliers is expected to be signed at the end of 2006. The contract which will run for a five year period is expected to have total value of approximately E800 million. ING expects that approximately 490 full time employees in the Netherlands and 60 in Belgium will be transferred to the suppliers.
The transaction is part of the efficiency initiatives announced at ING in 2005, which are expected to produce annual cost savings of approximately E460 million, including E230 million for the streamlining and outsourcing at the firm’s Operations & IT organization.