Colombian lender Banco Popular has renewed its contract with technology provider Unisys to manage its critical business operations.

The five-year contract requires Unisys to offer installation, deployment and support services for an EMC2 VMAX 100K storage system at the bank’s production site, as well as a backup location for contingency use and business continuity.

Unisys said that the new platform will offer the lender a more powerful and secure repository for critical business applications and data on the bank’s customers and products.

The new platform will offer faster access to data, with better potential for expanding the platform to meet future business needs.

Banco Popular’s core banking platform currently operates on Unisys’ ClearPath Forward Libra systems. Unisys has already initiated the process of transferring all information in the bank’s systems from the old storage system.

Unisys vice president of financial services for Latin America Carlos Ferrer said: "We are proud to extend our long-term relationship with Banco Popular and continue providing service-driven solutions based on advanced technologies that enable the bank to continually improve its IT operations and serve its clients more efficiently."