The new workload optimized system from IBM has been rolled out to 23 members of Guangdong Cooperatives located in seven cities in Guangdong province.
Upon completion of the projects in mid-2011, the bank’s 99 cooperative unions and 5,600 operation outlets will be able to use the system to conduct 15 million transactions – up from 4 million – a day with enhanced performance and efficiency.
IBM said that the advanced IBM platform will help Guangdong Cooperatives by consolidating existing IT systems and replacing inefficient or duplicate systems. It will also provide a 360-degree view of customer data, for more detailed understanding of its customers for personalized services, identifying new market opportunities, and making better decisions for risk management and credit assessment.
In addition, member banks will be able to approve and process personal loan applications quickly, efficiently and accurately with the reduced approval time.
The increased level of efficiency is expected to enable the member banks to focus on providing more banking products to a growing population of new customers, including farmers and small to medium businesses.
The new technology will also help target efforts to better serve remote cities of Guangdong Province, the fastest growing region in China.
Guangdong Cooperatives president of Banking Service Center Zhang Xuejun said that the successful implementation of phase one of the IT project for 23 members represents a major milestone in Guangdong Cooperatives’ transformation into a leading financial institution in China.
The entire system links all municipal and county cooperatives, integrating with all other banking operations. As a result, Guangdong Cooperatives will serve as the provincial transaction processing center, data processing center and capital clearing center.
The new IT infrastructure will consolidate the data and integrate the business processes of all members of Guangdong Cooperatives. IBM analytics software will also enable Guangdong Cooperatives to analyze and explore customer transaction information while IBM InfoSphere Information Server software will support the bank to integrate all relevant data resources and govern the quality and completeness of the information.
