EDS gets A$1bn deal down under

EDS, provider of business and technology services, has signed a deal with Australian bank Westpac under which EDS will manage the organisation's mortgage processing operations.

Over a 10-year contract worth $679m ($1bn Australian) to EDS, the outsourcer will take over the operation of the bank's Mortgage Centre in Adelaide, South Australia. Around 700,000 accounts are processed and serviced from the centre.

As part of the deal, approximately 1,300 Westpac employees will move to EDS.

The agreement is in line with Westpac's promise to achieve scale efficiencies across the group.