FIS has announced it is to take control of FirstBank Puerto Rico’s IT operations and staff for a seven year period.

The services FIS will provide to the bank including hardware and software upgrades, application management, IT operations personnel, help desk and desktop services.

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Aurelio Alemán, president and CEO of FirstBank Puerto Rico said: "Our extended relationship with FIS enables us to take advantage of their expertise in managing complex IT infrastructures while ensuring that the technology continues to deliver the results we need for the customers we serve.

"At FirstBank Puerto Rico, we strive to focus on initiatives that deliver value to our customers."

According to research firm Celent, financial institutions spend more than 77% of their budgets on maintenance.

Mark Davey, executive vice president, FIS International Solutions Group said: "The hard dollar costs and regulatory burdens of maintaining a complex IT environment are driving more institutions to take a closer look at how they manage their IT systems and budgets,"

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At FIS, we’re delivering innovative options that enable institutions to delegate these responsibilities without impacting the delivery commitments to their customers. We’re excited to leverage our trusted relationship with FirstBank Puerto Rico to deliver improved technology operations and believe it creates the foundation that other banks in the region can successfully leverage to address similar challenges."

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