19 August 2017
Find out more

Guangdong Cooperatives overhauls systems with IBM

02 February 2011  |  4630 views  |  0 Chinese flag

IBM has won a major contract with China's Guangdong Rural Credit Cooperatives to consolidate 23 banking systems in seven cities.

Big Blue says it beat off competition from Oracle and HP to provide Guangdong Cooperatives with an enterprise-wide system in the "largest and most complicated banking data consolidation project in China to date".

Guangdong Cooperatives was set up in 2005 to serve serve 99 cooperative associations and rural commercial banks - with around 5600 outlets - in the province.

Set for completion by the middle of this year, the new system - built on DB2 database software - will enable all of these parties to conduct 15 million transactions - up from four million - a day with improved performance and efficiency, says IBM.

Among the benefits will be a 360-degree view of customer data, delivering a more detailed understanding for more personalised services. In addition, member banks will be able to approve and process personal loan applications more efficiently and accurately, bringing the time down from weeks to days.

IBM analytics software will enable Guangdong Cooperatives to analyse and explore customer transaction information while the vendor's InfoSphere Information Server software will support the bank to integrate all relevant data resources and govern the quality and completeness of the information.

As part of the project, IBM has relocated the bank's key business and core banking systems onto a hardware platform that consists of IBM Power 595, Power 570, Power Blade Server and DS8300 storage platform.

Zhang Xuejun, president, banking service centre, Guangdong Cooperatives, says: "By deepening our customer-oriented perspective, we hope to boost service and enhance our business through these important technology investments."

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

China set to become m-payments mega-market - Celent

China set to become m-payments mega-market - Celent

12 November 2010  |  9498 views  |  0 comments
China overtakes Japan as world's second largest ATM market

China overtakes Japan as world's second largest ATM market

23 March 2010  |  10725 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
download the paper nowvisit www.worldpaymentsreport.comvisit www.dorsum.eu

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
8960 views comments | 23 tweets | 23 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
7826 views comments | 19 tweets | 23 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
7203 views comments | 10 tweets | 7 linkedin
hands typing furiouslyWhy Blockchain Might Not Be The Future For...
6447 views 1 | 5 tweets | 3 linkedin
Apple sidelined as Beijing transit system launches payments appApple sidelined as Beijing transit system...
6311 views comments | 11 tweets | 9 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job