Press release 4 July 2016

KAS BANK

KAS BANK signs agreement with Atos for management of its IT services

KAS BANK has signed a seven-year partnership with Atos SE for the management of its IT services. The agreement is part of the further optimisation of the services provided by KAS BANK and the reduction and flexibility of its IT costs.

KAS BANK and Atos have been working together since 2009 in the area of mainframe services. The new agreement strengthens KAS BANK change capacity to achieve its strategic goal to take a leading position in the securities services to professional clients in the European pension and securities industry.

"The intensification of our existing collaboration with Atos creates added value for both KAS BANK and our clients," says Jaap Witteveen, COO of KAS BANK. "We thus strengthen our innovative capacity for creating new services and products throughout the complete value chain of custody, administration and reporting services. The collaboration also contributes to a flawless processing and raises our risk management to a higher level, which in turn makes a positive contribution to the low risk profile of the bank."

The outsourcing of the IT services will have a positive impact on the service provided to the clients. The outsourcing of the IT services will enable KAS BANK to deal with the more demanding flexibility and digitization of the financial markets. Atos is a strong technology partner that further supports KAS BANK in the development of a multi-client investment management platform.

The agreement with Atos fits in the objectives of the bank to reduce the costs to a lower level. In total, over the term of the contract it is expected that a saving of nearly € 30 million will be realised. Within this reduction the costs of the transition of roughly € 10 million is taken into account, of which a substantial portion will be taken in the second half of the current year. Part of the agreements is the transfer of approximately 70 IT employees from KAS BANK to Atos.

Contact
Remko Dieker - Secretary to the Managing Board
T: +31 20 557 51 80
Mark van den Nieuwenhof, Managing Director IT
T: +31 20 557 2487

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