Of Special Interest


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30th August 2011

IBM 10 banking deals within CEE region

IBM announced that it had recently made deals with 10 banks in East and Central Europe. The objectives of the deals are to improve operational efficiency and provide mobile and internet technologies. IBM will provide new hardware, software and services to support efforts by the banks to modernize their core banking systems to prepare for growth, increase efficiencies and take advantage of new market opportunities.

The banks include Sberbank, PKO Bank Polski, Erste & Steiermarkische Bank in Croatia, PRAVEX-BANK, Garanti, JSC Rietumu Banka in Latvia, Societe Generale in Serbia, NovaLjubljanska Banka in Slovenia and Raiffeisen Bank in Romania and Czech Republic. The combined value of the deals was $130m.

"The global banking crisis has served as a catalyst for a drive towards greater efficiency and the need to differentiate," said Eray Yuksek, Director of Financial Services Industries, IBM CEE, in a press release. "We are seeing the effects of this in the financial services sector today as leading banks are … investing in IT to improve the management of information -- helping to create customer-centric services and ensuring the highest possible standards in risk management."