April 19, 2019 | Written by: Erika Ulring
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The financial services sector (FSS) has reached a tipping point, according to an ITPro article on technology within the financial industry.
“We have reached the point where banks, in particular, must consider and position themselves not just as financial entities, but as lifestyle brands too,” shared Bharat Bhushan, IBM CTO, Banking and Financial Services.
The cloud is transforming the banking industry as banks adopt cloud solutions to help deliver against increasing customer expectations. This is because bank customers are often measuring bank services against the technical sophistication they experience in their digital and mobile interactions with companies in other sectors, such as retail.
“The cloud and emerging technologies such as AI and machine learning serve as both a catalyst and a reason to change for the financial industry,” ITPro reports. “Customers, ultimately, expect the same — if not greater — level of tech sophistication they’re used to in their consumer lives when it comes to everyday tasks such as banking.
Banks choose IBM Cloud to deliver services
Two banks this week announced their commitments with IBM Cloud.
Fukui Bank of Japan will adopt IBM Cloud to run its distributed processing systems. The company plans to use IBM Cloud for VMware Solutions for the migration. Learn more by reading the announcement.
Boursorama, a subsidiary of Société Générale in France, renewed its commitment to hybrid cloud with a five-year contract with IBM to continue building the bank’s new product offerings and services.
Read more about technology in the financial services sector in the full article by ITPro.
Learn more about IBM Cloud solutions for banking.