The Bank of the Philippine Islands has outsourced its IT network and data center activities to IBM.
The move will allow BPI’s information systems team to better concentrate on the bank’s strategic initiatives.
“The country’s growth trajectory provides BPI with the opportunity to grow,” says President and CEO of BPI Cezar “Bong” P. Consing. “The partnership with IBM will help provide the IT infrastructure that is supportive of the bank’s growth objectives.”
IBM is an experienced IT service provider with an excellent reputation for large scale systems integration and systems management within the banking industry. IBM currently services several major banks in the ASEAN region. This engagement will help BPI focus on more strategic business areas while IBM manages its day-to-day IT operations.
“IBM is committed to the strategic partnership as BPI continues to focus on key transformational projects,” said President and Country General Manager, IBM Philippines Mariels Almeda Winhoffer. “IBM will provide smarter, scalable IT services and capabilities that will enhance and accelerate BPI’s transformation for growth.”
Founded in 1851, Bank of the Philippine Islands (BPI) is the country’s third largest bank in terms of assets and the largest bank in terms of market capitalization. It has significant market share in deposits, corporate & consumer lending, and asset management & trust business. BPI is the recognized leader in electronic banking, having introduced most of the firsts in the industry.
BPI enjoys the highest credit ratings from international rating agencies. It is the only investment grade local bank in the country as rated by the Fitch Ratings agency.