IBM cuts deal with Japan Consumer Credit Services

IBM selected as services provider in US$370 million deal for one of Japan's largest consumer credit companiesSingapore, 27 March 2000 - IBM announced in Tokyo today that it has been selected by JACCS (Japan Consumer Credit Services) Co. Ltd, one of the largest organizations of its type in Japan, to provide a total IT services solution that will help the organisation meet its objectives and remain focused on its core business, in a deal worth over US$370m over six and a half years.

IBM selected as services provider in US$370 million deal for one of Japan's largest consumer credit companies

Singapore, 27 March 2000 - IBM announced in Tokyo today that it has been selected by JACCS (Japan Consumer Credit Services) Co. Ltd, one of the largest organizations of its type in Japan, to provide a total IT services solution that will help the organisation meet its objectives and remain focused on its core business, in a deal worth over US$370m over six and a half years.

IBM's services arm, IBM Global Services, will undertake the contract which is one of the largest in the history of the Japanese credit industry. IBM Global Services will operate, develop and maintain JACCS hosts systems and provide and manage a network of servers and 3,500 personal computers in over 140 locations across Japan.

Through this contract with IBM, JACCS will be able to meet its business goals including providing a comprehensive range of new services such as call center operations, billing services, and credit card issuing for small to medium sized credit companies and member establishments. In addition, by May 2001, IBM will provide full-scale operation of JACCS information systems which will enable the company to provide a 24-hour consumer finance service.

Mr Mitsuhiko Kijima, Senior Managing Director of JACCS Co., said that the decision to outsource the company's technology requirements was a strategic one.

"It is clear that technology is a real enabler for organisations like ours that want to provide their customers with a wide range of services and run an efficient business. IBM will provide not only experience in technology but global experience in the finance sector. They provide real leadership in this area," he said.

Mr Masana Uchiike, Sector Services Executive-Financial Services, IBM Global Services, Japan, said, "Our existing long relationship with JACCS means we already have an understanding of how technology will enable their organisation to meet its goals. We will utilise proven methodologies and our global experience to deliver solutions that will bring enefits to JACCS very quickly."

Previously, IBM has undertaken significant consulting and systems integration work in relation to JACCS' fundamental credit system "JANET". These services included the organization of the information system division, arrangement of communications infrastructure, and developing and building of a credit card system. In addition, IBM Japan also renovated JACCS' office system including its e-mail system which utilises Lotus Notes.

About IBM Global Services
IBM Global Services is the world's largest information technology services provider, with 1999 revenues of over $32 billion. Services is the fastest growing part of IBM, with more than 140,000 professionals serving customers in 160 countries. IBM Global Services integrates IBM's broad range of capabilities -- services, hardware, software and research -- to help companies of all sizes realize the full value of information technology.
For more information visit www.ibm.com/services.

About JACCS
Established in Japan in 1954 as a consumer credit company, JACCS Co. Ltd. has grown steadily by adhering to the principle of putting the customer first. JACCS Co., Ltd, has millions of consumers as well as member stores and other business partners to form a sound operating base. JACCS offers a broad spectrum of financial services including credit cards; consumer shopping credit; loan guarantees; personal loans; leases and bill collection services. Behind this diversity is a policy of constantly offering new products and services to remain in step with market trends.

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