ICBC partners with IBM to bolster its IT Operations in support of Bank’s Strategic Growth
Bangkok, Thailand – 14 Sept 2017: Industrial and Commercial Bank of China (Thai) Public Company, known as ICBC (Thai), and IBM (NYSE: IBM) have announced a three-year managed IT operations and resiliency services agreement to enhance the efficiency and effectiveness of the Bank’s data centre operations as it looks to expand and grow its business in Thailand.
Under this agreement, IBM will provide the bank with fully managed services covering data center infrastructure and operations, backup and disaster recovery, security, and world-class process improvement. The agreement also covers the delivery of services to the Bank’s local subsidiary, ICBC (Thai) Leasing Company Limited.
ICBC (Thai) is a subsidiary of ICBC Limited, the world’s largest bank in terms of the highest Tier 1 Capital. ICBC (Thai) is designated by People’s Bank of China as the RMB Clearing Bank in Thailand, and it is looking to aggressively grow in both the commercial and the consumer banking areas, leveraging its strong global network across 6 continents.
“In partnering with IBM and by moving the Bank’s IT Infrastructure operations into a Managed Services model, ICBC (Thai) will benefit from measurably improved IT services and processes, security, resiliency, and extensive support from IBM’s IT expertise.” said Mr. Shiqiang Lin, Chief Executive Officer, ICBC (Thai). “This will ultimately enhance the Bank’s services, agility, competitiveness and governance in Thailand, while ensuring that customers receive the highest satisfaction from our local and international professional financial services, especially the cross-border businesses between Thailand and China.” He also explained that its strong connection with China was one area that the Bank is expecting to leverage as part of its growth strategy.
Mr. Lin also said that “IBM proved to have the tools, experience, and track record of success in Thailand that ICBC required for building an environment for progressive growth,” he said.
“We are in an era of unprecedented business transformation, with increasingly high competitiveness and an expectation of “always-on” service in the banking industry. The move toward the Digital Economy and the PromptPay initiatives are examples of market forces in Thailand are making Banks reexamine their internal IT capabilities. Maximum reliability is crucial for business success,” said Parnsiree Amatayakul, Managing Director of IBM Thailand Co., Ltd. “IBM Thailand has provided technology and business services as well as cognitive solutions, cloud platform, software, systems, and financing services to major banks, insurance companies, telecoms, and conglomerates throughout the country for decades. We are very proud of being chosen as a critical IT partner to help support ICBC (Thai)’s strategic growth in Thailand. The Bank’s decision underlines IBM Thailand’s market leadership position in providing resiliency and IT managed services to the Thai banking industry.”