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Bank of China Achieves Customer-Centric Transformation with IBM

Leading global bank leverages Big Data and analytics to improve customer interaction, personalization and marketing strategy with multi-channel banking experience

BEIJING, Jan. 7, 2014 /PRNewswire/ -- Bank of China and IBM (NYSE: IBM) have successfully completed the launch of the Bank's next generation global online banking platform, providing 100 million customers with a fully integrated experience spanning branch, phone, mobile and web banking. The Bank leveraged IBM's business consulting expertise to revolutionize all aspects of its online banking strategy including site redesign, improved functionality and interactivity as well as implementation of more personalized services.

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As global banks continue to seek a more tailored, multi-channel experience, Bank of China has taken advantage of this opportunity to reorient around its customers. As such, a critical component of launching its new online banking platform included improved data collection and analytics to better understand the needs of each individual customer. Today, banks can harness Big Data in the form of transactions, real-time market feeds and customer service records to derive more insight about their customer and their business than before.  By leveraging the insights from this data, Bank of China is now able to customize the user experience, improving how it interacts, serves and markets to its customers.   

"Banking has entered a new era, transforming from simple transactions and delivery methods to new and improved sales and marketing channels," said Jiang Xin, General Manager, Electronic Banking, Bank of China. "As demand continues to rapidly evolve, Bank of China is taking the lead to meet the unique, individual needs of our valued customers. By launching our new online banking platform, we are making critical strides in achieving our customer-centric transformation, improving service delivery and customer satisfaction."

As a truly global online banking platform, the site now fully integrates user information from mainland China, Hong Kong, Macau, Taiwan and over 30 additional countries where the Bank operates. Customers are now able to access a centralized view of all accounts, also offering local services to meet user needs at any time from any where.

"Today, the customer must be the central organizing principle around which data insights, operations, technology and systems revolve," said Ron Lefferts, Partner and Vice President, Financial Services Sector, IBM Global Business Services. "The proliferation of online and mobile technologies, and the Big Data generated from them, is enabling Bank of China to better understand, and even anticipate, customer needs. The most successful banks will be those that gain and use these insights to transform how they engage and service their customers as individuals."

About Bank of China

Bank of China transformed into a state-owned commercial bank in 1994. As China's most international and diversified bank, Bank of China provides a comprehensive range of financial services to customers across the Chinese mainland, Hong Kong, Macau, Taiwan and 30 overseas countries. The Bank's core business is commercial banking, including corporate banking, personal banking and financial markets services.

About IBM

For more information about IBM, please visit: www.ibm.com

CONTACT:
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[email protected]

SOURCE IBM

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