August 27, 2008
Fernbach Partners With IBM GCG to Bring IFRS Software to Banks in China
Fernbach, a provider of financial software, has entered into a partnership with IBM China, to introduce Fernbach's FlexFinance IFRS software for banks to China.
Under the new partnership, IBM GCG will localize FlexFinance IFRS for the Chinese market, resell it to banks in China and provide maintenance and first-line support.
Boon Tan, partner and leader of financial services sector for global business services at IBM, said: "IFRS is a top priority for IBM China over the next three years and FlexFinance IFRS from Fernbach is the most comprehensive solution for the complex compliance project banks are facing."
Arnaud Picut, director for Asia Pacific region of Fernbach-Software, said: "This is an important partnership for Fernbach. We understand the importance of localization and local support, and IBM is in the ideal position to provide both. The IFRS project requires a double competency: both accounting and IT. IBM has proven expertise of implementing accounting systems and setting-up robust and reliable IT architectures. IBM's in-depth expertise about IT infrastructure will be vital for supporting IFRS processes that govern several million transactions a day."