23 August 2017
Find out more

IBM wins $157m Korea Investment & Securities outsourcing deal

14 October 2009  |  4498 views  |  0 handshake

Korea Investment & Securities (KIS) has inked a 10 year, $157 million, information technology outsourcing agreement with IBM.

Under the deal, Big Blue will design, build and install an IT infrastructure system for KIS, consisting of a fleet of Server pSeries and xSeries as well as IBM Tivoli security management and Maximo asset management.

The vendor will also migrate part of the existing storage system to its own offering and provide the network equipment.

In addition, the deal also covers management and maintenance of the IT infrastructure, with IBM helping KIS operate it through virtualisation and integration services.

The new infrastructure will be used to support KIS' major business areas, including account and financing, channel management, external interface, data analytics and call centres.

Although outsourcing the operation of the IT infrastructure, KIS will continue to lead the technology strategy planning and application development and management.

Byung-ho Lee, CIO, KIS, says: "We decided to transform our business process for the purpose of reinforcing our global competitiveness in the fiercely competitive financial industry. By enhancing our IT capacity, we will be able to actively respond to the rapidly changing global financial environment."
KeywordsOUTSOURCING

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

IBM to buy Bank of America mortgage servicing unit

IBM to buy Bank of America mortgage servicing unit

06 October 2009  |  8709 views  |  0 comments
Korea Exchange Bank and IBM ink strategic procurement outsourcing deal

Korea Exchange Bank and IBM ink strategic procurement outsourcing deal

28 August 2009  |  3445 views  |  0 comments
IBM, Insa and Caixanova plan Spanish technology innovation centre

IBM, Insa and Caixanova plan Spanish technology innovation centre

16 July 2009  |  5720 views  |  0 comments
IBM wins ABC Brazil Bank data centre deal

IBM wins ABC Brazil Bank data centre deal

30 April 2009  |  4530 views  |  0 comments
IBM and BNP Paribas extend outsourcing joint venture to Italy's BNL

IBM and BNP Paribas extend outsourcing joint venture to Italy's BNL

21 January 2009  |  8926 views  |  0 comments
IBM wins Madhav Nagrik Sahakari Bank IT outsourcing deal

IBM wins Madhav Nagrik Sahakari Bank IT outsourcing deal

15 December 2008  |  4049 views  |  0 comments
Big Blue scores with Friends Provident and the Chilean Stock Exchange

Big Blue scores with Friends Provident and the Chilean Stock Exchange

10 December 2008  |  6467 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comdownload the paper nowvisit www.worldpaymentsreport.com

Top topics

Most viewed Most shared
Rabobank constructs physical model to understand IT architectureRabobank constructs physical model to unde...
20493 views comments | 43 tweets | 84 linkedin
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
13385 views comments | 28 tweets | 23 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
11992 views comments | 22 tweets | 35 linkedin
Australia regulates digital currenciesAustralia regulates digital currencies
11253 views comments | 21 tweets | 35 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
11119 views comments | 10 tweets | 8 linkedin

Featured job

Find your next job