BCP Teams Up With Microsoft, Kyndryl To Modernize IT Systems

(RTTNews) - 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.