Retail bank Absa and Telkom, Africa’s largest integrated communications company, have signed a five-year contract for the provision of an integrated end-to-network solution, the parties said on Monday.
The network will connect more than 2Â 548 Absa sites across the country and is worth an estimated R1,7-billion, Absa and Telkom said in a joint statement.
For Telkom, this deal is ”one of the largest ever concluded with a corporate customer”.
Telkom CEO Reuben September said that the company’s network, and its network-management capabilities, enable the delivery of value-added data-managed services at speeds and quality levels that outshine those of competitors.
”The Absa contract is further validation of our success in winning large corporate accounts. It attests to the depth of our technology and project management skills,” September said.
Ian Russell, Absa’s chief administration officer, said the revamp of its information technology system will contribute to the maintenance of its business leadership position.
”This is an integral aspect of modernising the group’s internal IT systems and keeping abreast with industry developments.
”As one of the leading companies in the financial services industry, we have to maintain our leadership position and continue to efficiently deliver customer-centric solutions to our client base. Without continuously upgrading our system, this cannot be possible.”
In the past 24 months, Absa conducted internal investigations into the operations of its current wide area network (WAN) and concluded that it needed a revamp.
This project is set to facilitate the expansion of branches, enable real-time connectivity and provide redundancy in the event of disaster, Russell said.
The WAN will also allow for data transfer and interconnection between Absa’s branch networks, ATM networks and IT data centre. — Sapa