IBM and the Bank of the Philippine Islands, the third-biggest lender in terms of assets, signed a $260-million multi-year services agreement.
IBM will provide IT infrastructure services to support an agile IT and hybrid cloud, as well as digital development capabilities to accelerate BPI’s digital transformation.
“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,” said IBM Global Technology Services senior vice president Martin Jetter.
BPI is improving the digital banking experience for customers by investing in technology, including the renewed IT services agreement with IBM, across online, mobile apps, ATMs, CAMs (cash accept machines) and branches.
BPI aims to maintain a compliant IT environment to maintain leadership in the Philippine banking industry.
BPI plans to leverage IT infrastructure and hybrid cloud management services from IBM that delivers seamless technology, regardless of whether it resides within BPI’s existing infrastructure or its private or public cloud environments. IBM will host the bank’s digital solutions of today and in the coming years.
As part of the digital experience solution, IBM and BPI have designed an IT environment that supports an open API economy strategy that makes the most of the bank’s data to create compelling customer applications and services.
The agreement will help to achieve some of the bank’s digital transformation goals, which include the upgrades of bank branches with new technology as well as other financial services apps for customers.
The services provided by IBM will have “born in the cloud experiences” at its core to support BPI’s hybrid cloud strategy, including infrastructure as sode, and an open API consumption.