Fujian Rural Credit (FJRC), China has selected IBM for its new storage infrastructure.
FJRC has selected IBM’s storage infrastructure to enhance efficiency of Internet- and cloud-based financial applications, such as mobile banking, targeting more than 14 million agricultural population in the province.
FJRC has utilized IBM Spectrum Virtualize to deploy financial products that the old system or other storage products would not be able to support. The new services include convenient service outlets, mobile service vehicles, and mobile banking.
As a result of the investment in IBM solutions, FJRC has issued more than 70% of the annual loans for the province’s agriculture households, as well as 40% for the in-province small businesses.
With more than 1,800 outlets and over 11,000 micro-payment points, FJRC aims to cover every village across the province. FJRC provides commercial and retail banking services through its network of 67 rural credit unions, cooperative and commercial banks.
FJRC’s operation is built on an IBM POWER Cloud business platform. The newly added IBM Spectrum Virtualize and IBM V7000 match the platform with ease and help reduce the cost and complexity of the old system so that it can effectively manage all activities on the cloud.
With IBM Spectrum Virtualize, previously dispersed heterogeneous storage equipment is managed in one virtual pool, which shortens time for data transfer, remote mirror and especially automated application deployment.
IBM says FJRC’s information technology (IT) system has shifted to a center that supports the high performance of new products that potentially generates new streams of revenue and at the same time is expected to bring down the total cost of ownership.