Payment technology

Bank of China partners with IBM to launch online banking platform

Online BankingThe Bank of China announced on Tuesday that, in partnership with IBM, it has completed the launch of its online banking platform, allowing its 100 million customers to access integrated branch, phone, mobile and web banking services.

The state-owned bank launched an improved data collection and analytics process to determine the individual needs of its customers, allowing the bank to personalize and improve the user experience.

“Banking has entered a new era, transforming from simple transactions and delivery methods to new and improved sales and marketing channels,” Jiang Xin, the general manager of electronic banking at the Bank of China, said. “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.”

The site full integrates user information from China, Hong Kong, Macau, Taiwan and 30 other countries, and customers can access a centralized view of all accounts.

“Today, the customer must be the central organizing principle around which data insights, operations, technology and systems revolve,” Ron Lefferts, the partner and vice president of the financial services sector at IBM Global Business Services, said. “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.”

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