EDS and BOC Credit Card (International) Ltd (BOCI), a subsidiary of Bank of China (Hong Kong) Ltd, have announced that EDS will further migrate BOCI`s credit card operations to a comprehensive and integrated information technology (IT) system with powerful credit processing modules on a mainframe platform.
A formal agreement was signed in Hong Kong recently by Hou Ping, Deputy General Manager of BOCI and Stephen Lau, president, EDS Greater China. Terms of the contract were not disclosed.
"We`re delighted to be embarking on this mission-critical project for BOCI with EDS," said Hou Ping. "In today`s competitive market for financial services our continued advantage, preference and loyalty with customers depends on us not only being able to offer faultless customer service at the front end, but also an efficient migration and best-of-breed solutions at the back end. With EDS, BOCI can deliver both."
"The software implementation we`ve mapped out for BOCI will enable it to further achieve both operational- and cost-effectiveness by leveraging system resources and centralising operational support services," said Stephen Lau. "The system will provide BOCI with the flexibility and reliability needed to support its credit card business in multiple markets."
EDS will provide IT services for the migration of the existing legacy systems supporting BOCI`s credit card operations in the Mainland of China and Hong Kong and Macau SARs. EDS will also provide trainer training for selected BOCI staff, data conversion for more than 1 million credit card accounts and system implementation for the project. This project is the second phase of the global upgrading program for BOCI. EDS has already implemented the same system for BOCI`s operations in Australia and Singapore.
EDS` work in the worldwide financial industry accounted for about 17% of the company`s revenue last year. More than 15 000 employees work on finance-related projects in 29 countries for such customers as Korea First Bank, Bumiputra Commerce Bank, Deutsche Bank, Bank One, Commonwealth Bank Group and Lloyds TSB.
"EDS is the leader in deploying technology for financial institutions throughout the world," said Coley Clark, president of EDS` Global Financial Industry Group. "BOCI is the latest example of our industry leading expertise and experience providing positive business impact for our customers."
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EDS, the leading global services company, provides strategy, implementation, business transformation and operational solutions for clients managing the business and technology complexities of the digital economy. EDS brings together the world`s best technologies to address critical client business imperatives. It helps clients eliminate boundaries, collaborate in new ways, establish their customers` trust and continuously seek improvement. EDS, with its management consulting subsidiary, AT Kearney, serves the world`s leading companies and governments in 60 countries. EDS reported revenues of $21.5 billion in 2001. The company`s stock is traded on the New York Stock Exchange (NYSE: EDS) and the London Stock Exchange. Learn more at www.eds.com.
BOC Credit Card (International) Ltd
BOC Credit Card (International) Ltd, a subsidiary of Bank of China (Hong Kong) Ltd was established in 1980 (BOCI). BOCI is one of the largest credit card institutions in Hong Kong and is now managing the business of card issuing and acquiring for Bank of China (Hong Kong) and its subsidiaries, as well as community organisations. BOCI holds two subsidiaries, "BOC Travel Services Ltd" and "Sino Information Services Co Ltd". Credit cards issued by BOCI are called "BOC Credit Card", including Platinum Card, Gold Card, Classic Card, Business/Corporate Card, Purchasing Card, Co-brand Card, U-point Credit Card, Intown Virtual Credit Card, y not credit card, BOC Great Wall International Card (Platinum, Gold, Classic, Business/Corporate), Great Wall RMB Card issued in Shenzhen, and BOC Express Cash Card. For further information about BOCI, please visit the Web site www.boci.com.hk