International Business Machine also known as IBM, has been one of the leading technological company ever since. IBM does a number of things like selling computer hardware, software, distributing materials to other companies for their advancement, and cloud hosting as well. They were the pioneers of this industry ever since they began their journey in the business.
One of our banks, the Bank of the Philippine Islands (BPI) to be specific made a smart move of partnering up with IBM. They made an offer of $260 in multi-year services agreement. They did this as a part of their widespread digital transformation plan and business development.
In this day and age, almost everyone accesses online banking. Whichever bank a person might be a subscriber to, there is either phone or online banking. As similar with other banks, BPI experiences some issues and downtime as well.
Partnering up with the said company will definitely help them in terms of growing and investing. Aside from that, included in the terms is that IBM will provide IT infrastructure services to support “agile IT and hybrid cloud”. In addition to that, this would also give IBM the task and chance to improve their ATMs and cash accepting machines.
This partnership was definitely a good decision by the Bank of the Philippine Islands (BPI). With the shift that we are experiencing now in terms of all market, Cezar P. Consing, CEO of BPI said that it is actually best to take care of digital services as soon as they can to avoid problems in operations in the future.
The rapidly changing business environment requires us to accelerate the pace of our digital transformation. We need to continue to be responsive to an ever-changing market. Our extended agreement with IBM will help us become more agile in introducing innovations and transforming how we do things in BPI.”
This agreement will definitely leverage BPI’s IT infrastructure and makes sure that their needs would be met moving forward till the end of the contract. IBM is also happy with the agreement they have with BPI and excited in helping the said bank to grow. In an interview, Martin Jetter, the senior vice president of IBM said, that some banks are going through drastic changes and adapting to technological updates can be a good jump.
Banks like BPI are going through a major shift and embracing a complete transformation of their business with advanced services to respond to the needs of today’s connected consumer. We are excited about helping one of the leading banks in South East Asia power its core IT infrastructure and bring new digital experiences with IBM Cloud in a secure and open environment to help prepare BPI for the future of banking.”
In addition to that, Jetter also said that they are looking forward to helping one of the leading banks in Southeast Asia grow and become more adaptive in the current technology we have today.
We are excited about helping one of the leading banks in South East Asia power its core IT infrastructure and bring new digital experiences with IBM Cloud in a secure and open environment to help prepare BPI for the future of banking.”
With the pace of today’s technology, everyone hopes that this would serve as a good example to other banks as well. This is for every bank in the industry to improve what they currently have in terms of service, technology, and customer satisfaction.
To add to that, IBM also signed a deal worth $325 million with Juniper Networks. What they’ll do in that project is that they will be assisting the networking vendor in managing existing applications, IT services, infrastructure, and systems.
Their contract with Juniper Networks will run for seven (7) years. Moreover, it will see a big advantage and leverage in the IBM Services Platform which includes help desks, voice networks, data, and data centers.
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What do you think about this decision or move by the IBM? Do you think that it’s just right to let this “Big Baller” company take over one of the most trusted banks here in the Philippines? Hopefully, no issue of data breach and privacy is going to come up after this agreement especially now that multiple issues that revolve around the same idea is circulating in the news.