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How Continental Bank Outsourced Its "Crown Jewels"
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No industry relies more on information than banking does, yet Continental, one of America's largest banks, outsources its information technology (IT). Continental executives, eager to focus on the bank's core mission of serving business customers, decided to outsource one after another in-house service--from cafeteria services to information technology. While conventional wisdom holds that banks must retain complete internal control of IT, Continental bucked this argument when it entered into a ten-year, multimillion-dollar contract with Integrated Systems Solutions Corp. Continental is already reaping benefits from outsourcing IT. Most important, Continental staffers today focus on their true core competencies: intimate knowledge of customers' needs, and relationships with customers.