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Today's activity has brought International Business Machines Corp. on our radar.
International Business Machines Corp. was in the green over 5% with below average volume early trading Monday, January 14, 2008.
Monday, January 14, 2008 Today IBM announced that it will establish a Banking Center of Excellence in Vietnam in the first quarter of 2008. The center will enable clients in financial services to build and deploy next-generation core banking systems and new services based on open technologies. Banks will be able to use resources at the center to meet growing consumer demand for new banking products.
The banking center will be located in the IBM Vietnam headquarters in Hanoi and staffed with IBM banking and technical experts. The center will help clients and partners with business and technology design, vendor and package selection, modeling, proof of concept, benchmark testing and system migration. The center will help to produce high performance computing solutions that assure quality and security through the complete life cycle of banking operations.
In addition, in 2008 IBM will be making significant investments to develop a framework based on services oriented architecture (SOA) to help banks modernize their core banking systems.
A bank's core system provides the foundation for its business operations. For example, it processes transactions to update customer savings and credit card accounts and provides bank-to-bank services such as wire transfer and treasury management. IBM's new banking center will help banks in Vietnam improve their core systems, increasing efficiency, flexibility and the ability to scale to support the Vietnamese banking industry's rapid growth.
At the heart of the new center is the IBM System z platform, which provides the world-class availability, security and resiliency banks require in today's on-demand financial services environment. Clients will be able to use IBM open infrastructure technologies including Web services and virtualization; and software tools such as DB2, WebSphere and Tivoli. Together, these technologies will support a service oriented architecture to make disparate data available across multiple lines of business within an enterprise. As a result, banks will be able to more easily integrate customer information across account types, improving customer satisfaction.
"As a leading financial services provider in a rapidly expanding consumer market, we're delighted to have IBM bring their experience with banks around the globe to Vietnam," said Mr. Dao Minh Tuan, CIO of Vietcombank. "We are keen to use such expertise and technologies to offer world-class financial products for our customers."
"Vietnam's growing economy represents a great opportunity for IBM and the country's banking industry, as it looks to deliver new products and services to meet the growing financial needs of consumers," said Steve Mills, Senior Vice President and Group Executive, IBM Software.
"IBM's Banking Center of Excellence will be a globally-integrated resource for banks in Vietnam to build next-generation core banking systems," added Ian Hurst, IBM's General Manager of Banking and Financial Markets Industries.
In concert with the growing economy, a myriad of new banking services are becoming popular in Vietnam. According to the State Bank of Vietnam, in 2006 the number of ATMs grew 21%, while the number of bank cards grew 30%. Since only a small percentage of the population is using these services today, Vietnam's expanding banking sector represents a tremendous opportunity for growth.
We've seen oil markets spike, we've seen oil markets fall. We've seen wars, we've seen terrorist attacks. Chances are that the events that occur have a short term impact when you consider the overall factors of a 5-year forecast.
Most investors -- and unfortunately far too many brokers -- go on a buying spree the minute a rally starts in a particular sector. Correspondingly, they panic at the first sign of a downturn and tend to sell off some great stocks - right before the dead cat bounces.
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