Hong Kong-based Wing Lung Bank has contracted with IBM for the establishment of a joint software development facility at the vendor's data centre in Shenzhen, China.
Under the three-year, US$1.8 million contract, IBM Application Services will provide software development and management services to the bank via a new joint facility located at the centre.
IBM says the joint software development initiative will transform Wing Lung's products, services and customer channels and support the bank's expansion into mainland China.
"Establishing an offshore development centre in Shenzhen to handle some of the work being done in Hong Kong, requires extensive planning and strong knowledge of IT, business processes and human resources," says Dr Philip Wu, executive director and chief executive, Wing Lung Bank. "We're looking to capitalise on IBM's expertise in these areas."
Wing Lung Bank was the first Hong Kong-based bank to establish a branch in mainland China the Closer Economic Partnership Arrangement (CEPA), a free trade agreement that fosters economic links between mainland China and Hong Kong.
Dominic Tong, general manger, IBM China/Hong Kong, says: "The ability to integrate business insight and technology to create business value positions IBM as the ideal partner to help local enterprises innovate and grow as part of China."