Financial Technology

Financial Technology

January 07, 2014

Bank of China with Help of IBM Completes Launch of Next Generation Global Online Banking Platform

Bank of China has announced that it has been able to achieve customer-centric transformation with IBM (News - Alert).

Bank of China is one of China's most international and diversified banks, and it provides a comprehensive range of financial services to customers across the Chinese mainland, Hong Kong, Macau, Taiwan and 30 overseas countries. The bank's core business is commercial banking, including corporate banking, personal banking and financial market services.

Officials with Bank of China said that the bank with the help of IBM has successfully completed the launch of the bank's next generation global online banking platform, providing 100 million customers with a fully integrated experience spanning branch, phone, mobile and web banking.

By leveraging, IBM's business consulting expertise, the bank has been able to revolutionize all aspects of its online banking strategy including site redesign, improved functionality and interactivity as well as implementation of more personalized services.

"Banking has entered a new era, transforming from simple transactions and delivery methods to new and improved sales and marketing channels," said Jiang Xin, general manager, electronic banking, Bank of China, in a statement.

Xin said that as demand continues to rapidly evolve, Bank of China is taking the lead to meet the unique, individual needs of the bank’s valued customers.

“By launching our new online banking platform, we are making critical strides in achieving our customer-centric transformation, improving service delivery and customer satisfaction,” he said. 

Ron Lefferts, partner and vice president, financial services sector, IBM global business services said that today, the customer must be the central organizing principle around which data insights, operations, technology and systems revolve.

Lefferts said that the proliferation of online and mobile technologies, and the Big Data generated from them, is enabling Bank of China to better understand, and even anticipate, customer needs.

“The most successful banks will be those that gain and use these insights to transform how they engage and service their customers as individuals,” he said.

Edited by Cassandra Tucker

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