In a recent development in the corporate world, IBM is planning to join Citigroup’s $3 billion for China’s Guangdong Development Bank. IBM is eyeing for a five percent share. This move will help IBM get contracts from Guangdong Development for up gradation of computers.
IBM is trying to cash on the Chinese financial requirements for investing in IT for improving security and efficiency in order to face global competition. IBM China garners half of its revenue from financial services.
The involvement of IBM is expected to overhaul the IT system of the bank and help in improving compliance and risk control. The website of IBM states that it has developed a banking software which would ensure real time processing and customer data analysis which could help banking institutions in selling a range of products.
