MICROCAPITAL BRIEF: IBM Launches New Center For Provision of Microfinance Services in Peru with Investment of $20m

Jaime Garcia Echecopar, a general director for IBM, a multinational computer, technology and IT consulting corporation, announced the launch of a new microfinance project in Peru. IBM plans to invest USD 20 million over the next five years to develop its first processing center for microfinance institutions. The center will be able to manage the information relating to 2 million loans and deposits of various microfinance institutions (MFIs). These institutions will be able to use the internet to access their customer’s information and thus will not have to face extensive new investments in IT systems.

By Conner Brannen, Research Assistant

About IBM:

International Business Machines (IBM) is a multinational computer, technology and IT consulting corporation with headquarters in the US state of New York. IBM manufactures and sells computer hardware and software and offers a variety of infrastructure, hosting and consulting services. IBM reportedly holds more patents than any other US-based technology company and has eight research laboratories worldwide. In 2009, IBM recorded USD 104 billion in total revenue, USD 12.3 billion in net income and USD 109 billion in total assets.

Sources and Additional Resources:

Living in Peru: “IBM launches microfinance IT service platform in Peru,” by Alberto Limache Ramirez, June 7, 2010: http://www.livinginperu.com/business-1433-finance-stock-market-ibm-launches-microfinance-it-service-platform-peru

MICROCAPITAL BRIEF: International Finance Corporation (IFC), IBM and Republic Bank Launch Software Platform for Small and Medium-Sized Enterprises in Guyana, March 9, 2010: https://www.microcapital.org/microcapital-brief-international-finance-corporation-ifc-ibm-and-republic-bank-launch-software-platform-for-small-and-medium-sized-enterprises-in-guyana/

MICROCAPITAL STORY: Microsoft & IBM Target Microfinance for Social and Capital Returns, October 21, 2008: https://www.microcapital.org/technology-story-microsoft-ibm-target-microfinance-for-social-and-capital-returns/

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