Telkom would supply the bank with a secure VPN, which would allow for data transfer and interconnection between Absa branch networks, ATM networks and the bank’s information technology (IT) data centres.

Absa CEO Dr Steve Booysen commented that the bank had to continuously upgrade its network if it was to continue to deliver efficient customercentric solutions.

This solution would serve as an upgrade to the bank’s internal IT system, which would enable it to serve its clients more efficiently by improving data transmission time and bandwidth capacity. This would also reduce some disaster recovery risks in terms of regional out- ages.

Further, the upgrade would also align Absa’s operations with parent company Barclays’ network and technology, which the bank said would further improve its efficiency and service.

Absa chief administration officer Ian Russell added that this switch in technology would also reduce the bank’s operational costs by “several hundred-million rands” over the next five years.

Meanwhile, Telkom CEO Reuben September explained that, as part of its defend-and-grow strategy, it aimed to build long-term relationships with clients, and that the signing of this five-year contract with Absa reflected that strategy.

He noted that Telkom had established a ubiquitous network and that the operator was making progress in evolving its network into a bandwidth-rich Internet protocol-centric NGN.

September commented that the WAN implementation for the bank would “certainly place Absa, increasingly, as a world leader in the financial services domain”.

He added that the deal not only included the technology, but also a training component, which would deal with data communication, network technology, and Voice-over-Internet Protocol, besides other aspects.

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