Wing Lung Bank Selects IBM to Speed Growth Into China

Wing Lung Bank Selects IBM to Speed Growth Into China

IBM China/Hong Kong Limited and Wing Lung Bank, (”the Bank”) one of the oldest local Chinese banks in Hong Kong, today announced a joint software development initiative at IBM’s Shenzhen delivery facility to transform the bank’s products, services and customer channels, as well as support its expansion into mainland China.

The three-year agreement, worth US$1.8 million, will see IBM Application Services provide application development and management services to the Bank through a new joint facility located at IBM’s Shenzhen Global Delivery Center, one of three such IBM centers in China.

The co-development team at the facility will streamline and modernize the processes and tools the Bank uses to create its software applications. IBM’s accelerated solution delivery approach will speed the Bank’s product development process and time to market for new products and service innovation, allowing the Bank to quickly address changing customer needs and increase its competitive advantage.

The agreement between IBM and Wing Lung Bank follows the recent opening of the Bank’s Shenzhen Nanshan sub-branch in November 2005. The Bank is committed to investing in China and has been quick to capitalize on the Closer Economic Partnership Arrangement (CEPA), a free trade agreement that fosters economic links between mainland China and Hong Kong. Wing Lung Bank was the first Hong Kong-based bank to establish a branch in mainland China under CEPA.

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