Under the terms of the IT consulting service contract, worth 194 million baht (US$4.25 million), IBM Thailand will establish and develop the bank’s core banking system and processes, as well as install and integrate its computer systems and applications.
Bank Thai hopes to attain an international-standard IT infrastructure through this two-year implementation plan. It involves three phrases: software selection, business processes designing and integration, and lastly, nation-wide implementation of the system in the bank’s headquarters and branches.
Phirasilp Subhapholsiri, president of Bank Thai, said: "The...project is expected to be completed around mid-2003. During the working period, IBM will send a team of IT experts to work closely with the bank's team to provide program management and skills transfer."