Salans advised PJSC “Ukrsotsbank”, a part of UniCredit Group, on the outsourcing of the bank’s IT systems to IBM. As part of the 10-year agreement signed in December 2011 and valued at approximately USD 200 million, IBM will resume responsibility for the development and support of PJSC “Ukrsotsbank’s” information systems and applications as well as the management of the bank’s IT infrastructure.

IBM will take over the management and maintenance of PJSC "Ukrsotsbank’s" application portfolio, data centre systems, IT network, ATMs, end-user and deskside support. Salans’ team advised the client on a number of regulatory issues involved in the project, including legal structuring of the project, data protection, requirements for operational banking activity, intellectual property rights, etc.

Salans’ team was lead by Natalia Selyakova (Partner, Kyiv) with key support from associates Nikolay Zhovner and Denis Kulgavyi.

Natalia Selaykova, Partner at Salans’ Kyiv office commented: “This project demonstrated Salans’ solid expertise in legal matters related to the IT industry and the banking sector in Ukraine. We congratulate our client on the successful completion of this innovative project in Ukraine.”

Key Contacts:

Natalia Selyakova

Partner, Head of Salans Banking & Finance Practice Group in Ukraine

E: nselyakova@salans.com

T: +380 44 494 47 74

Irina Batmanova

Business Development & Marketing Manager, Salans Ukraine

E: ibatmanova@salans.com

T: +380 44 494 47 74