June 16, 2021 | Written by: ibmblogs
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Circeo Intends to Use IBM Cloud for Financial Services to Help Customers Accelerate Transactions with Financial Institutions in a Highly-Secured Environment
June 16, 2021
Circeo, a European fintech and lending technology provider delivering a cloud-based lending solution for banks and financial services companies, today announced it has joined IBM’s (NYSE: IBM) growing ecosystem of more than 100 Global Systems Integrators (GSIs), Independent Software Vendors (ISVs), SaaS providers, and FinTechs supporting the IBM Cloud for Financial Services. The IBM Cloud for Financial Services Framework is designed to address risk in the digital supply chain through a common set of security controls that are adhered to by the entire ecosystem.
A growing portion of the $1 trillion hybrid cloud market opportunity is comprised of the financial markets industry, which is expected to increase nearly twenty percent by 2024. Key findings in a recent IBM internal analysis suggests that Cloud is expected to account for about 60% of that future market opportunity as financial institutions are accelerating innovation to meet heightened customer expectations, deliver consistent services in the face of challenges like the global pandemic, and navigate the ever-complex regulatory environment.
Circeo intends to onboard TheLoanFactory, the company’s lending solution built with Red Hat OpenShift, to the IBM Cloud for Financial Services to provide the security and reliability its financial services customers require
The industry’s first financial services-ready cloud, the IBM Cloud for Financial Services uses IBM’s fourth generation confidential computing capabilities and “Keep Your Own Key” encryption delivered via IBM Hyper Protect to help partners and their customers retain control of their data and transact with financial institutions in a secure environment. The IBM Cloud for Financial Services Framework is designed to reduce third- and fourth-party risk in the digital supply chain through a common set of controls and processes that are adhered to by the entire ecosystem. The built-in controls are engineered to help customers accelerate innovation, unlock new revenue opportunities, and decrease the cost of compliance.
“We are excited to continue our successful collaboration with IBM,” said Laurent Clerc, President of Circeo Group.
“Collaborating on the IBM Cloud for Financial Services is an exciting driver for innovation and will help us quickly meet customer demand while addressing the complex security and regulatory requirements of today’s financial industry. “We designed the IBM Cloud for Financial Services with a control framework to help financial institutions accelerate hybrid cloud adoption and drive revenue growth while addressing their need for a secure and compliant partner ecosystem,” said Brendan Kinkade, Vice President, Technology and Hybrid Cloud Partnerships, IBM. “By collaborating on the IBM Cloud for Financial Services, partners like Circeo can transact with financial institutions on their journey to modernization.”
Circeo is part of IBM’s partner ecosystem collaborating on the IBM Cloud for Financial Services to help partners accelerate transactions with financial services institutions. The IBM Cloud for Financial Services is designed to help financial services institutions’ as they address their requirements for their regulatory compliance, security and resiliency. IBM’s partner ecosystem fuels hybrid cloud environments by helping clients manage and modernize workloads from bare-metal to multicloud and everything in between with Red Hat OpenShift, the industry’s leading enterprise Kubernetes platform.
- IBM Global Market View, Banking and Financial Markets Industry Markets Opportunity, March 2021.
About Circeo: Circeo was established in 2014 with the goal of helping banks use technology to resolve complex lending problems. The organization’s signature software tool, TheLoanFactory, is an innovative SaaS approach to lending that makes the management of the loan life cycle easier for both banks and their customers. Headquartered in Luxembourg with offices in Hungary, France, and the UK.