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IBM signs 10-year strategic outsourcing contract with Korea Investment & Securities

Includes design, building and installation of an IT infrastructure system to support KIS' business areas

IBM has signed a 10-year strategic outsourcing agreement with Korea Investment & Securities Co. (KIS), which aims to enhance its competitive position in the global marketplace through business process innovation and transformation in information technology (IT) services.

Under the agreement which is valued at $157m, IBM will provide for KIS a range of IT services, including design, building and installation of an IT infrastructure system consisting of a fleet of its Server pSeries and xSeries as well as Tivoli security management and Maximo asset management. IBM will migrate part of the existing storage system to IBM Storage System, and provide the network equipment.

IBM said that the IT infrastructure system will be used to support KIS’ major business areas, including account and financing, channel management, external interface, data analytics and call centres, in a move to increase its operational efficiency across the company.

In addition, IBM will manage the company’s IT infrastructure operation including the management and maintenance. It will help KIS operate the IT infrastructure through virtualisation and integration services, and improve service quality through improved processes. As part of the agreement, KIS will receive on-demand service under the payment system based on usage and manage the service level agreement-based service quality.

Byung-ho Lee, chief information officer of Korea Investment & Securities, said: “We have selected IBM as our business partner for IBM’s superior capability in IT services, its strong track record in operating global outsourcing services and the high business value it could generate for its clients.

“We decided to transform our business process for the purpose of reinforcing our global competitiveness in the fiercely competitive financial industry. By enhancing our IT capacity, we will be able to actively respond to the rapidly changing global financial environment.”