Sparkassen Informatik’s subsidiary IZB and FinanzIT, both IT service providers for the German group of savings banks, have expanded their contract with T-Systems for telecommunications IT services until 2013. The deal is reported to be worth around three million euros.

As part of the agreement, Sparkassen Informatik and FinanzIT are entering into a technology partnership with T-Systems, the aim of which is to develop a new IP network for voice and data. It is designed to replace the previous data network provided by T-Systems.

The network will link together Sparkassen Informatik, FinanzIT and approximately 480 institutes of the Sparkassen organization in Germany. A total of 16,000 branches will access all the data and applications made available by the two IT service providers via the network for the Sparkassen organization.