China Construction Bank has selected Teradata, a division of NCR Corp., to build the first enterprise data warehouse in China's banking history.
The bank is hoping to accelerate the modernization of China's banking industry and raise competitiveness by adopting Teradata's enterprise data warehousing technology.
The first phase of the project will centralize all the bank's data across business functions and branches. The system also relies on the Teradata data warehouse to develop related applications such as customer relationship management, and on Teradata Value Analyzer to analyze customer profitability.
China Construction Bank selected Teradata after testing and evaluating several multinational vendors at the initial planning stage. Teradata enterprise data warehousing solutions were found to provide sufficient analytical power and high scalability of massively parallel-processing servers. Teradata was also chosen for its extensive experience in the financial services sector and the customization of Teradata's solutions for the China market.
"Teradata enterprise data warehousing solutions have been selected by 25 of the world's top 100 banks," according to Cliff Wu, vice president and managing director of Teradata, Greater China.
"Teradata's expertise in the global banking industry will offer the strongest support to the modernization of China Construction Bank's infrastructure," he added.
China's entry into the World Trade Organization will bring significant challenges to China's financial industry, noted Randy Wang, general manager of NCR Teradata China. "Many leading banks have planned to build their own management information systems, and China Construction Bank will be a model for them to follow. Teradata will offer the world's best data warehousing experts to ensure that this project is implemented smoothly."
The China Construction Bank project is the third terabyte-class enterprise data warehousing project that Teradata is implementing in mainland China. Teradata has also helped Shanghai Securities Central Clearance and Registration Company and TravelSky Technology Limited in China.
China Construction Bank is the third-largest state-owned commercial bank in China, with business focusing on medium- and long-term lending. Headquartered in Beijing, it conducts operations across the territory of China with more than 20,000 branches as well as in major international financial centers including Hong Kong, London, New York, Frankfort, Tokyo, Singapore and Seoul.