Sun Life Financial Trust Inc. is outsourcing its banking system to Datawest. The five-year agreement, with an estimated value of $4 million, involves Datawest providing financial and payment services, and applications customization and system implementation services.

“After an extensive review, Sun Life Financial Trust made the decision to switch from an in-house system to Datawest’s outsourced financial services solution,” says Tom Gregoriades, president of Sun Life Financial Trust.

By outsourcing with Datawest, Sun Life Financial Trust says it can concentrate on delivering high quality financial services to its customers on a 24-hour, seven days a week basis through a wide range of electronic channels, including the internet, telephone and Interac.

The move marks Datawest’s initial foray into the Ontario marketplace with its first major banking system contract outside of the credit union industry.