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IBM offers banks new business deal

ByChinwe Ubah
Committed to helping banks to improve efficiency, streamline operations and reduce costs while accelerating transformation, IBM is offering Nigerian banks a unified platform to help banks be more efficient, improve their flexibility and adapt more easily to new business challenges and regulatory requirements.

Part of the IBM Smarter Planet strategy, the new platform, according to Ndiaye Mamadou of IBM West Africa enables banks to simplify the modernization, management and monitoring of their technology systems, while lowering risk by avoiding the disruptive business consequences that have characterized these activities in the past.

IBM’s Banking Industry Framework, he said  gives banks an alternative to the high-risk, rip-and-replace approach. “The framework enables a bank’s progressive transformation with industry proven data and process models already employed by more than 250 financial institutions.

As a result, banks are now able to safely and securely upgrade their infrastructure on the fly.    “Among the most compelling features of the new modular IBM framework is that it focuses the infrastructure, where the maintenance and management of core banking systems typically account for over half of total IT spending.

Not only are these costs a drain on potential funds for improvement and innovation, but they are continually rising as banks continue to modify and patch aging core systems – increasing their complexity.


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