Guangdong Rural Credit Cooperatives selects IBM for banking system development

Monday 7 February 2011 10:00 CET | News

US provider of web-based travel and expense management services IBM and Chinese rural credit bank Guangdong Rural Credit Cooperatives have entered an agreement to develop an enterprise-wide banking system to support its business strategies.

Under the terms of the deal, IBM’s new workload optimized systems will consolidate Guangdong Cooperatives existing IT systems and replace duplicate systems. It will also provide a view on customer data and a VIP Premiere Service which identifies market opportunities and making decisions for risk management and credit assessment.

Furthermore, IBM’s platform enables member banks to approve and process personal loan applications and address to new customers, from farmers to small and medium businesses in the remote cities of Guangdong Province. The entire system links all municipal and county cooperative and integrates them with all other banking operations, enabling Guangdong Cooperatives to serve as the provincial transaction processing center, data processing center and capital clearing center.

The new IT infrastructure built on the DB2 database software is set to integrate the business processes of all members of Guangdong Cooperatives. Via IBM’s InfoSphere Information Server software, the bank is able to integrate data resources and control the quality of the information.

IBM’s hardware platform deployed for Guangdong Cooperatives includes IBM Power 595, Power 570, Power Blade Server and DS8300 storage platform. IBM Power Blade enables the bank to deploy data consolidation in its provincial center as well as other operations.

IBM has integrated the 23 disparate systems previously installed in member cooperatives. The project is expected to be completed in mid-2011 and will allow the banks 99 cooperative unions and 5,600 operation outlets to use the system to make 15 million transactions.

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Keywords: Guangdong Rural Credit, IBM, workload optimized system
Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce