Bank of China Teams up with IBM on International Fintech Lab


One of China’s big state-owned banks is working with IBM to advance its digital transformation ambitions.

On 27 September Bank of China and IBM announced that they will work on the creation of a “new innovation model for the financial industry” that builds upon their existing cooperative relationship.

BOC will pursue the global expansion of the 5-8 Innovation Labs that was first developed in the IBM Garage in order to better leverage international resources.

The lab will see BOC and IBM professionals work alongside each other to integrate enterprise design with innovation.

Collaboration between BOC and IBM will focus upon digital transformation, customer experience enhancement, business innovation, eco-system construction and cognitive technology deployment.

“Bank of China is committed to becoming a world-class bank with technology and innovation as the cornerstones of our vision,” said Wang Fang, Bank of China Singapore branch vice president, Bank of China Innovation Lab Singapore General Manager.

“We look forward to having IBM as our partner, because we believe that in addition to the assistance they offer with technological leadership and industry expertise, we can learn even more from IBM’s own transformation and innovative models.”