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Chinese banks' matured approach to IT partnerships bodes well for domestic financial eco-system
Chinese banks now look at five decisive factors when selecting prospective IT partners – brand, work history, committed resources, quality of service, and cost.

Mar 06, 2013 | Baron Laudermilk

In China, connections are critical in acquiring business opportunities. However, when it comes to Chinese banks selecting their technology partners, there are a few main factors that banks consider before signing a contract with any such vendor. Not only are connections important, so is the vendor’s brand, its past performances in the country, the amount of resources the vendor can commit, and of course, the total cost charged for a single project. Hebei Rural Credit Union’s costly overhaul Hubei Rural Credit Union (HRCU) learnt the hard way when it came to selecting…

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Categories: China, Core Banking, Customer Centricity, Innovation, Technology & Operations
Keywords: HRCU, TCS, Liu Zhigao, China CITIC Bank, SAS, Lu Tianggui, Oracle, Harbin Bank, BoC, Du Quan
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