REDMOND (dpa-AFX) - Monday, Banco de Credito del Peru announced the investment of over $650 million to modernize its IT Systems with a hybrid cloud in collaboration with Microsoft Corp. (MSFT) and Kyndryl Holdings, Inc. (KD).
The investment, spanning over five years, intends to create AI-powered innovation platform, facilitate financial services, and promote sustainable development.
Under the partnership, the Peru-based financial institution will work with Kyndryl and leverage Microsoft Azure to create a hybrid computing environment, enabling the modernization of its IT systems, and improving the agility and availability of its digital channels.
Currently, Kyndryl's stock is trading at $28.08, up 1.34 percent on the New York Stock Exchange, and Microsoft's stock is trading at $422.28, down 0.04 percent on the Nasdaq.
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