A NEW groundbreaking IT-banking joint-venture is now operating in the UK, with 1,700 staff of high street bank Abbey National plc being transferred to the organisation.

It decided earlier this year to outsource its banking processes by setting up a joint venture to handle the work, in partnership with Texas-based Electronic Data Systems. That deal has now been signed and has this month come into operation.

Abbey National has also announced that EDS will receive more than US$390, (Pounds 275m), million over 10 years to provide ...

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