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BANKING
SOMRUEDI BANCHONGDUANG
Marking the agreement yesterday, from left: Rick Yakabowich, senior vice-president for the operation and support division of Thanachart Bank; Mr Vichit; Thanwa Laohasiriwong, managing director of IBM Thailand; deputy MD Tanawat Suthamphan. |
Thanachart Bank has budgeted two billion baht to overhaul its IT systems over the next seven years. The bank, 24.98% owned by the Bank of Nova Scotia, yesterday signed a contract with IBM (Thailand) to outsource its IT infrastructure.
Vichit Yanamorn, a Tbank director and IT systems adviser, said the bank's IT development plan would support its goal to offer a full array of financial services for customers.
''Our co-operation with Scotiabank covers a full range of banking business development as well as IT systems,'' he said.
''The Thanachart Group will be upgrading its technology base significantly over the next several years.''
The outsourcing deal with IBM covers four areas: data centres, disaster recovery, server and network management and IT security operations.
The deal makes Thanachart the country's second bank to largely outsource its IT systems after Kasikornbank.
Mr Vichit said even as the Thanachart Group expanded its IT investments, the company would slow other investments, including its branch expansion plans.
The group has cut its branch target to 230 by the end of the year from an earlier target of 250. Tbank currently operates 193 branches nationwide.
Tbank, the country's eighth largest bank, aims to increase its assets to 500 billion baht from 300 billion now over the next three years.
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