The Bank of the Philippine Islands (BPI) is looking to boost its digital transformation through a $260 million, multi-year services agreement with IBM.
The third largest bank in the Philippines in terms of assets, with more than nine million customers, BPI will use IT infrastructure and hybrid cloud management services from IBM, supporting online, mobile, ATM and branch services.
Big Blue will host the bank’s digital solutions of today and in the coming years, supporting an open API economy strategy designed to make the most of BPI's data to create customer applications and services.
In addition, IBM says the agreement will help to achieve some of the bank’s digital transformation goals which include the continual upgrades for bank branches with new technology as well as other financial services apps.
"Banks like BPI are going through a major shift and embracing a complete transformation of their business with advanced services to respond to the needs of today’s connected consumer," says Martin Jetter, SVP, IBM Global Technology Services.
This is the third major bank deal IBM has announced in the last few days, coming in the wake of long-term contracts with BNP Paribas and Nordea.