Hong Kong Bank Signs Joint Development Agreement with IBM

Wing Lung Bank in Hong Kong and IBM China/Hong Kong Limited announced a joint software development initiative at IBM’s Shenzhen delivery facility to transform the bank’s products, services and customer channels, as well as support its expansion into mainland China.

In the three-year agreement, worth US$1.8 million, IBM Application Services will provide application development and management services to the Bank through a new joint facility located at IBM’s Shenzhen Global Delivery Center, one of three such IBM centers in China.

The co-development team at the facility will streamline and modernize the processes and tools the bank uses to create its software applications.

The agreement between IBM and Wing Lung Bank follows the recent opening of the bank’s Shenzhen Nanshan sub-branch in November 2005, capitalizing on the Closer Economic Partnership Arrangement (CEPA), a free trade agreement that fosters economic links between mainland China and Hong Kong.

IBM’s three Global Delivery Centers in China are certified at Capability Maturity Model Integration (CMMI) level 5, the highest certification level for process maturity and quality and improvement in software development.