Welcome!

Machine Learning Authors: Elizabeth White, Leon Adato, Kevin Benedict, Yeshim Deniz, Progress Blog

News Feed Item

Ghana's Fidelity Bank Turns to IBM to Power Next Phase of Growth

Fast-growing West African financial institution relies on IBM for data center overhaul as it prepares for further expansion

ACCRA, Ghana, Nov. 29, 2012 /PRNewswire/ -- IBM (NYSE: IBM) today announced the successful completion of a new comprehensive state-of-the-art data center at the fast-growing Fidelity Bank in Ghana.

(Photo: http://photos.prnewswire.com/prnh/20121129/NY20640 )

(Logo: http://photos.prnewswire.com/prnh/20090416/IBMLOGO )

Fidelity Bank, which is widely known in Ghana for its innovative mortgage and rural banking products, has evolved from a $100,000 start-up to a multi-million dollar enterprise that is now preparing for a listing on the Ghanaian Stock Exchange. Faced with growing pressure on its back-end processes and technology systems, Fidelity sought an integrated solution that would enable it to manage future growth as it kick started its expansion program.

"We are at a critical period in the history of our bank where we need to have in place the right kind of technology going forward," said Edward Effah, Managing Director, Fidelity Bank. "With advanced technologies and enhanced business intelligence tools, IBM is helping us to optimize our ability to provide a wider range of services to our rapidly growing client base."

The data center, which is housed in the bank's headquarters in the Ghanaian capital of Accra, has been designed from the ground-up with the latest advances in energy efficiency, business continuity, resiliency, security and disaster recovery.

Fidelity Bank is ISO certified – the first bank in Ghana to achieve this mark. The bank has been voted the best Growing Bank three consecutive times in Ghana. Other recent awards include, Best Bank, Customer Care 2010 and runner up in Short-term loans, Information Technology and Corporate Social Responsibility.

Fidelity Bank has extended its footprint into Asia with the establishment of Fidelity Asia Bank in Malaysia. This has also opened up trade and investment opportunities between Ghana and the Far East.

To deliver the data center, IBM pooled together local and international consulting expertise and leveraged best practice examples from across the world, to deliver a customized yet affordable solution. The new data center will simplify back-end management processes and provide higher levels of service availability, helping the bank to deliver a positive end-user experience.

Growing demand for innovative banking services and wider product portfolios is driving intense competition in the Ghanaian financial sector, which the World Bank predicts will expand by more than 12% in 2012.

"We are seeing increased momentum in the financial services sector where our clients are looking for transformative technologies that can help them leapfrog several generations of IT platforms, lower operational costs, and automate more processes," said Joe Mensah, Country General Manager, IBM Ghana.

IBM is actively expanding its operations across Africa as part of the company's continued geographic expansion initiative. Recently, IBM announced details of 20 major banking deals throughout Africa including five of Kenya's leading banks: Credit Bank, Co-operative Bank, Family Bank, National Bank of Kenya and National Industrial Credit Bank, who turned to IBM to deliver world-class IT solutions that are fine-tuned to their local markets.

Earlier this month, RAWBANK, the largest private bank in the Democratic Republic of Congo (DRC), announced an agreement with IBM to help transform its core banking systems as it seeks to grow its customer base in the largely unbanked Central African country.

"The focus for African financial institutions has been to increase market expansion efforts and improve customer service levels," said Bijen Ramdas, senior research analyst with IDC Financial Insights, MEA. "Technology investments being made by financial institutions in the region address multiple key business metrics specifically focusing on improving efficiencies, saving costs and driving customer acquisition or retention."

IBM displaced several systems providers, including Hewlett-Packard to supply Fidelity Bank with hardware, application and systems software, storage and virtualization software solutions. The deal also included post-implementation support by IBM for the bank. The specific systems deployed in the new data center include highly scalable IBM Power 750 servers running PowerHA and PowerVM system software for computationally intense core-banking applications as well as System x3850 servers for the bank's general business workloads.  For its increased storage needs, Fidelity Bank also selected IBM System Storage DS5300 systems for core-banking and the IBM Storwize V7000 with x86 virtualization.

About Fidelity Bank

Fidelity Bank Ghana is owned by Ghanaian and foreign individuals and institutional investors, including the Agricultural Development Bank, Africa Capital LLC, and the Social Security and National Insurance Trust (SSNIT), amongst others.

To learn more about Fidelity Bank Ghana Ltd visit: www.fidelitybank.com.gh

About IBM:

To find out more about IBM please visit: www.ibm.com

For more information, please contact:

Charles Moyela
IBM Media Relations
+233 2627 18756
Email: [email protected]

Kui Kinyanjui
IBM Media Relations
+254 721 676543
Email: [email protected]

Kristin Bryson
IBM Media Relations
914-766-4221
203-241-9190 (mobile)

 

 

 

SOURCE IBM

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@CloudExpo Stories
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
SYS-CON Events announced today that Massive Networks will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Massive Networks mission is simple. To help your business operate seamlessly with fast, reliable, and secure internet and network solutions. Improve your customer's experience with outstanding connections to your cloud.
DevOps is under attack because developers don’t want to mess with infrastructure. They will happily own their code into production, but want to use platforms instead of raw automation. That’s changing the landscape that we understand as DevOps with both architecture concepts (CloudNative) and process redefinition (SRE). Rob Hirschfeld’s recent work in Kubernetes operations has led to the conclusion that containers and related platforms have changed the way we should be thinking about DevOps and...
SYS-CON Events announced today that SkyScale will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. SkyScale is a world-class provider of cloud-based, ultra-fast multi-GPU hardware platforms for lease to customers desiring the fastest performance available as a service anywhere in the world. SkyScale builds, configures, and manages dedicated systems strategically located in maximum-security...
SYS-CON Events announced today that Grape Up will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company specializing in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the U.S. and Europe, Grape Up works with a variety of customers from emergi...
Everything run by electricity will eventually be connected to the Internet. Get ahead of the Internet of Things revolution and join Akvelon expert and IoT industry leader, Sergey Grebnov, in his session at @ThingsExpo, for an educational dive into the world of managing your home, workplace and all the devices they contain with the power of machine-based AI and intelligent Bot services for a completely streamlined experience.
Because IoT devices are deployed in mission-critical environments more than ever before, it’s increasingly imperative they be truly smart. IoT sensors simply stockpiling data isn’t useful. IoT must be artificially and naturally intelligent in order to provide more value In his session at @ThingsExpo, John Crupi, Vice President and Engineering System Architect at Greenwave Systems, will discuss how IoT artificial intelligence (AI) can be carried out via edge analytics and machine learning techn...
When shopping for a new data processing platform for IoT solutions, many development teams want to be able to test-drive options before making a choice. Yet when evaluating an IoT solution, it’s simply not feasible to do so at scale with physical devices. Building a sensor simulator is the next best choice; however, generating a realistic simulation at very high TPS with ease of configurability is a formidable challenge. When dealing with multiple application or transport protocols, you would be...
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, will examine the regulations and provide insight on how it affects technology, challenges the established rules and will usher in new levels of diligence a...
FinTechs use the cloud to operate at the speed and scale of digital financial activity, but are often hindered by the complexity of managing security and compliance in the cloud. In his session at 20th Cloud Expo, Sesh Murthy, co-founder and CTO of Cloud Raxak, showed how proactive and automated cloud security enables FinTechs to leverage the cloud to achieve their business goals. Through business-driven cloud security, FinTechs can speed time-to-market, diminish risk and costs, maintain continu...
An increasing number of companies are creating products that combine data with analytical capabilities. Running interactive queries on Big Data requires complex architectures to store and query data effectively, typically involving data streams, an choosing efficient file format/database and multiple independent systems that are tied together through custom-engineered pipelines. In his session at @BigDataExpo at @ThingsExpo, Tomer Levi, a senior software engineer at Intel’s Advanced Analytics ...
Existing Big Data solutions are mainly focused on the discovery and analysis of data. The solutions are scalable and highly available but tedious when swapping in and swapping out occurs in disarray and thrashing takes place. The resolution for thrashing through machine learning algorithms and support nomenclature is through simple techniques. Organizations that have been collecting large customer data are increasingly seeing the need to use the data for swapping in and out and thrashing occurs ...
As many know, the first generation of Cloud Management Platform (CMP) solutions were designed for managing virtual infrastructure (IaaS) and traditional applications. But that’s no longer enough to satisfy evolving and complex business requirements. In his session at 21st Cloud Expo, Scott Davis, Embotics CTO, will explore how next-generation CMPs ensure organizations can manage cloud-native and microservice-based application architectures, while also facilitating agile DevOps methodology. He wi...
Historically, some banking activities such as trading have been relying heavily on analytics and cutting edge algorithmic tools. The coming of age of powerful data analytics solutions combined with the development of intelligent algorithms have created new opportunities for financial institutions. In his session at 20th Cloud Expo, Sebastien Meunier, Head of Digital for North America at Chappuis Halder & Co., discussed how these tools can be leveraged to develop a lasting competitive advantage ...
SYS-CON Events announced today that Dasher Technologies will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Dasher Technologies, Inc. ® is a premier IT solution provider that delivers expert technical resources along with trusted account executives to architect and deliver complete IT solutions and services to help our clients execute their goals, plans and objectives. Since 1999, we'v...
There is only one world-class Cloud event on earth, and that is Cloud Expo – which returns to Silicon Valley for the 21st Cloud Expo at the Santa Clara Convention Center, October 31 - November 2, 2017. Every Global 2000 enterprise in the world is now integrating cloud computing in some form into its IT development and operations. Midsize and small businesses are also migrating to the cloud in increasing numbers. Companies are each developing their unique mix of cloud technologies and service...
For financial firms, the cloud is going to increasingly become a crucial part of dealing with customers over the next five years and beyond, particularly with the growing use and acceptance of virtual currencies. There are new data storage paradigms on the horizon that will deliver secure solutions for storing and moving sensitive financial data around the world without touching terrestrial networks. In his session at 20th Cloud Expo, Cliff Beek, President of Cloud Constellation Corporation, d...
SYS-CON Events announced today that IBM has been named “Diamond Sponsor” of SYS-CON's 21st Cloud Expo, which will take place on October 31 through November 2nd 2017 at the Santa Clara Convention Center in Santa Clara, California.
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across business networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost as well as advance trade. Are you curious about how Blockchain is built for business? In her session at 21st Cloud Expo, René Bostic, Technical VP of the IBM Cloud Unit in North America, will discuss th...
SYS-CON Events announced today that Datera, that offers a radically new data management architecture, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Datera is transforming the traditional datacenter model through modern cloud simplicity. The technology industry is at another major inflection point. The rise of mobile, the Internet of Things, data storage and Big...