IBM and AFFINBANK in IT Partnership Agreement

IBM and Affin Bank Berhad, one of the nine anchor banks in Malaysia, announced that the companies have entered into an information technology partnership agreement worth US$121 million over 10 years designed to modernize AFFINBANK's IT infrastructure and improve customer service.

This contract with IBM will enable AFFINBANK, in tandem with its Banking Without Barriersâ„¢ approach, to gain flexibility, rationalize its IT costs and move to a standard and global IT platform which will aid in the removal of boundaries as well as change the face of conventional banking.

AFFINBANK's IT processes will be streamlined to implement a consistent and proven set of world-class best practices tailored to its particular business and technical requirements.
The centralization of workplace services and consolidation of data centers will help AFFINBANK support business applications and give the company new cost predictability opportunities.
IBM will consolidate and enhance AFFINBANK's data center operations and provide infrastructure management services that include helpdesk and desktop management for the bank's personal computers, server management, network services, security services, asset management, disaster recovery, database management, and system management controls. AFFINBANK's IT group will continue to be responsible for the alignment of its IT strategy with its business goals, vendor management, and strategic projects.
"This partnership agreement will enable AFFINBANK to transform itself into an innovative company that looks at taking firm and decisive steps in delivering world-class banking experience to their clients," said Voon Seng Chuan, Managing Director, IBM Malaysia.

"Through this agreement, AFFINBANK will be better positioned to anticipate and sustain its growing customer demands, respond quickly to changing conditions, realize cost savings, and improve its operational efficiency and competitive advantage. IBM is very excited to be given this opportunity to work with AFFINBANK to help it leverage technology and innovation in the financial services industry to help it achieve its business goals," added Voon.

The deal was inked late last year and work will commence shortly - IBM.