(Source: MARKET WIRE)
IBM (NYSE: IBM) announced that Kookmin Bank (NYSE: KB), Korea's largest banking institution, will adopt IBM System z10 as the platform for its next-generation core banking application system. This bank-wide project will consolidate all of the bank's different business units across the world, providing a highly flexible and secure platform to transform Kookmin Bank into a leading global bank of the future.
Through the adoption of IBM System z10, Kookmin Bank will secure a world-class, customer service-oriented IT infrastructure and gain a footing to upgrade its financial operations based on cutting-edge technology. In addition, this also supports the Bank's strategy of innovating its data center operations and management by building a smarter IT environment that drives cost effectiveness and energy efficiency.
Before the contract was signed in December 2008, Kookmin Bank evaluated systems and technology from IBM and other vendors including Hewlett-Packard, Oracle and TmaxSoft. The bank also carried out benchmark tests (BMTs) for its core banking application and database management systems on IBM System z9 and Unix server for Multi Channel Interface (MCI) and Enterprise Application Integration (EAI) application over a six-month period last year both in and outside of Korea. The BMTs were used to assess and verify core technology components and involved handling a large volume of online transactions to closely simulate the actual environment.
According to Kookmin Bank, it chose IBM technology to build its platform as it provides the best stability, usability, and security for the enhancement in customer service quality.
Kookmin Bank started the NGBS project in 2007. As the bank's service provider, IBM is currently developing the framework of the project and building a customer-centric, user-friendly application system. With a highly responsive and flexible IT infrastructure providing 24x7 availability, Kookmin Bank will be able to promptly respond to the changing financial environment. Other benefits include business continuity based on a seamless disaster recovery solution, minimum deployment and stronger monitoring, as well as improved support for the bank's global operations. In turn, the bank will be able to leverage new technology, devices and media to provide world-class services to its customers globally.
SukYoung Kang, Director, Financial Services Sector, IBM Korea, said, "IBM System z10 and DB2 is being regarded as the strategic platform for global integration worldwide. Our Open Infrastructure Offering (OIO) contract with Kookmin Bank reaffirms its trust in IBM's mainframe for mission-critical work.
