Macau's Tai Fung ties up with IBM for business continuity services

IBM and Macau-based Tai Fung Bank issued a joint statement in Hong Kong Wednesday, announcing that Big Blue has been providing a business continuity and resiliency service for Tai Fung. The focus is on improving customer satisfaction through enhanced service levels, as well as meeting guidelines set down by the Monetary Authority of Macau, said the firms in the statement.

 

The service includes disaster recovery plan development, system implementation and maintenance, 7x24 support and regular test-drills, and is intended to help ensure the availability of Tai Fung Bank’s core banking system in the event of disasters or other incidents that could cause disruption of customer services.

 

“For nearly seven decades, Tai Fung Bank has been a leading bank in Macau with a strong commitment to customer service and satisfaction,” said Tang Dama, CIO, Tai Fung. "Business continuity and resiliency is critical for us to provide the utmost levels of services to our customers...by partnering [with] IBM, we are able to draw upon its industry-leading expertise to facilitate continuity of operations by protecting customer data and [our] core banking systems.”

 

After implementing the business continuity and resiliency system in December, IBM is managing it in partnership with Companhia de Telecomunicações de Macau SARL (CTM), the leading telecommunications service provider in Macau. “As a major bank in Macau, Tai Fung Bank is taking the lead to adopt world-class business continuity solution to meet customer and regulatory requirements,” said Tony Fung, Executive, Global Technology Services, IBM China/Hong Kong.

 

Fung added that his firm was delighted to work with "our long-time client" Tai Fung to "help fulfill its vision of delivering exceptional customer service." The IBM executive pledged to "continue to collaborate with the bank and provide our best services to support its future growth and development.”

 

Tai Fung Bank, founded in 1942, was the first locally incorporated bank following the enactment of the banking ordinance in 1971. Today, Tai Fung is one of the largest banks in Macau, a former Portuguese colony that became a Special Administrative Region of China just over a decade ago.