(WINSTON-SALEM) -- BB&T Corporation has awarded an exclusive, five-year managed print services contract to Lexmark International, Inc. The Winston-Salem based bank says the move will reduce costs significantly.

"With Lexmark's managed print services solution across its business, BB&T will have a holistic, streamlined approach that will pay dividends for its employees, customers, the environment and BB&T's bottom line," said Marty Canning, Lexmark vice president and president of its Printing Solutions and Services Division.

As part of the five-year agreement, Lexmark will standardize and optimize the number and type of output devices throughout BB&T's more than 1,800 retail branches and at its headquarters in Winston-Salem. Lexmark expects to reduce the total number of devices at BB&T from 30,000 competitive devices to approximately 10,000.