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First National Bank chooses IBM
ARMONK, N.Y., Nov. 24 /PRNewswire-FirstCall/ — First National Bank of Namibia Ltd has selected IBM ( IBM) to help the bank localize its banking systems and operations. Under the $5 million agreement, IBM will provide FNB with two of the latest IBM System z10 Business Class mainframes and supporting software to meet regulatory requirements and support the bank’s growth.
The deal marks the first deployment of mainframe technology in Namibia. Implementation of the IBM system was completed this month and forms part of FNB Namibia’s $15 million project to localize its core banking systems and operations in Namibia.
Previously, FNB Namibia, which is majority owned by FNB South Africa, had its server infrastructure and the data of more than 400,000 customers residing in South Africa.
An article to remind us of the opportunities in emerging economies both in terms of services and products. It’s exciting to here what’s going on from a technical and business viewpoint, for example as we onboard businesses and users in China, what possibilities for revenue, for product development and innovation will we see going forward?
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