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At U.S. - Africa Business Forum, Ghana's Fidelity Bank Chooses IBM To Drive Transformation Agenda

Stocks in this article: IBM

ACCRA, Ghana and WASHINGTON, Aug. 5, 2014 /PRNewswire/ --  At the U.S. Africa Business Forum in Washington, D.C today, Ghana's Fidelity Bank announced its choice of IBM (NYSE: IBM) to manage its technology infrastructure and services. The five year deal will help the bank deliver advanced customer services and secure its reputation as a dynamic financial services institution in West Africa.

Head office of Fidelity Bank Ghana in Accra, the Ghanaian capital.

Currently one of the largest banks in Ghana, Fidelity Bank Ghana Limited is seeking to enhance its operational efficiencies as it embarks on a new strategic direction, developing growth plans and strategies for new markets, products and services.

Fidelity Bank pioneered agency banking in Ghana, contracting third party retail networks called Fidelity Smart Agents to provide services on its behalf, with the objective of offering the full benefits of its services and products to the unbanked and under-banked in the country.

Fidelity Bank was licensed by the Bank of Ghana (BoG), the local industry regulator, in 2006; and has made tremendous strides in the past 7 years to become a Tier1 Bank.  The quality of its product offerings and its high professional standards has propelled its franchise into a leading Ghanaian brand. The bank now has a balance sheet of USD $1billion (approx.).

Fidelity Bank's choice of IBM to manage the administration and governance of its technology assets and operations will further entrench its position as a leading, financial institution in West Africa The aim of the technology management services deal is to ensure stability in the bank's operations nationwide and help drive its projected exponential growth, as it seeks to become one of Ghana's top 3 banks in the next 5 years.  

To support the bank's goals, IBM will combine local and international expertise, including round-the-clock technical support from IBM's international Global Delivery Centers to ensure the bank achieves cross-channel integration and a seamless customer experience across all its touch-points. The IBM-managed services will cover a broad spectrum of the bank's IT functions, including management of its server, security, storage, networks, end user services, branch IT support, ATM infrastructure support and datacenter services.

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