IBM Signs Five-Year $450 Million Agreement With ANZ

02 Sep

IBM Signs Five-Year $450 Million Agreement With ANZ

IBM Corporation has secured a five-year $450 million contract with ANZ to drive super-regional strategy.

IBM Corporation has taken a measure to meet the needs of the financial sector. IBM news exclaimed that the ANZ Banking Group has signed a contract with the New York based organization, which would allow it to grow in the Asian region. In accordance with this contract, it would be able to access its cloud developmental abilities, core systems infrastructure, and software portfolio.

IBM news today disclosed that the signed document would also see the two organizations jointly invest in an Innovation Lab, which would be supported by the corporation’s cloud development platform-as-a-service Bluemix.

ANZ developers would use the innovation lab to establish, test, and employ new applications and services. The financial institution would utilize Bluemix to pioneer, establish, and utilize new applications to market in a faster manner. In addition to that, IBM would use its z13 mainframe and Power8 infrastructure as a part of ANZ’s private cloud infrastructure to ensure that the bank’s system is mobile-ready.

IBM breaking news affirmed that an official of ANZ, Scott Collary, believes that the combination of cloud software, analytics, information, and corporation’s content management would support the bank’s infrastructural and core banking requirements. The bank previously informed that it was undertaking an enterprise-wide approach to its investments on technology, such as simplification of its banking processes, which played a significant role in letting it deliver positive results for the first six months of the 2015 financial year.

ANZ has employed a strategy, which differs from that of other banking groups, such as Commonwealth Bank of Australia, which succeeded in winning plaudits for enhancing its ageing internal technology systems. Instead of overhauling its main systems with a big bang, ANZ is investing $1,500, 000,000 to develop its networks in Asia, especially in the People’s Republic of China.

IBM’s official, Kerry Purcell, believes that the new agreement was a significant step in its four-decade long relationship with ANZ. Marketing specialists have claimed that the signed agreement would not only enhance its reputation but also help it to grow in the corporate world.

It is probable that the bank’s customers, who would be its ultimate beneficiary, would welcome the collaboration between the two organizations. Big Blue’s officials should take steps to ensure that all its products are shared with the bank in an effective manner to please the bank and strengthen the relationship for future benefits. The five-year $450 million deal attracted attention from media and competitors. It is evident that both companies have prepared comprehensive strategies.

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Posted by on September 2, 2015 in IBM, Technology


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