IBM Cloud for Financial Services reaches 100 partner milestone


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Brendan Kinkade, VP, Technology and Hybrid Cloud Partnerships, IBM

Joel Spieth, General Manager, IBM Cloud for Industries

According to a blog post by Brendan Kinkade, VP, Technology and Hybrid Cloud Partnerships, IBM announced that it has added new partners to its IBM Cloud for Financial Services ecosystem, IBM and Joel Spieth, General Manager, IBM Cloud for Financial Services.

“Today we reached an important benchmark – more than 100 ecosystem partners plan to integrate solutions with the IBM Cloud for Financial Services to help financial service providers streamline their collaboration with GSIs, ISVs, SaaS providers and FinTechs to innovate to accelerate. ”and improve the customer experience. Our focus is on enabling our partners to accelerate time to market and customer onboarding while deepening engagement through our security and compliance functions, ”said Kinkade and Spieth in the post.

Big Blue announced the general availability of its cloud for financial services in April 2021, as reported by ChannelE2E. The cloud, which was developed in partnership with Bank of America to accelerate cloud adoption for financial services customers, also helps reduce risk for financial institutions, their partners and financial technology (fintech) providers, according to a statement from IBM .

The financial services-ready cloud platform includes support for Red Hat OpenShift and other cloud-native services, according to IBM. The financial services industry and technology partners can use Red Hat OpenShift to build applications, migrate virtual machine workloads, and enable compliance across workloads, the statement said.

IBM Cloud for Financial Services

IBM Cloud for Financial Services is designed to help banks host business-critical workloads while complying with their security and compliance regulations reduce third and fourth party risk in the digital supply chain through joint security and compliance controls that are adhered to by the entire ecosystem, according to the blog post. The platform was developed in partnership with Bank of America and Promontory, a financial services compliance consultancy, and maintained by the IBM Financial Services Cloud Council, led by Howard Boville, head of the IBM Hybrid Cloud Platform.

According to the statement, IBM has also worked with several global financial institutions such as BNP Paribas, Luminor Bank, MUFG, and others. Ecosystem collaborators including SAP, EY and Tata Consultancy Services, independent software providers (ISVs) and software-as-a-service (SaaS) providers; are new partners AmplifAI, Circeo, Decision focus, Enghouse Interactive, Episode six, Finclude, Hanzo Archives, Inc, Infosys Finacle, NetApp, Inc, NexJ Systems, Inc, NGDATA, Palo Alto networks, Portworx from Pure Storage, SIS ID, SunTec, Temenos, Vestigo, VMware, Zafin and many others helping financial institutions integrate third-party offerings, modernize legacy applications to improve customer experience and accelerate time to market, the blog post reads.

Market Opportunities for Financial Services Cloud

A cloud engagement fund, established as part of a $ 1 billion investment in the IBM ecosystem, will support partner adoption of the IBM Cloud for Financial Services and help IBM and its partners modernize and improve applications through technology support Develop new use cases, solutions and go-to-and-market collaborations and layer cloud credits and technical resources to help partners build effective business relationships, according to the blog post.

“With increasing dynamism, the benefit for customers also increases. Our growing ecosystem has been used by customers to further streamline operations, increase efficiency, reduce risk, lower compliance costs and accelerate revenue growth as more and more partners come on board, ”said Kinkade and Spieth. “We’re accelerating cloud adoption in the financial services industry by delivering a cloud with an integrated security and regulatory framework that helps partners and their customers accelerate their path to the cloud. We are proud to announce that our momentum towards this goal is increasing every day. “

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