IBM Cloud for Financial Services Continues Expansion with Additional Banks and Ecosystem Partners
3 min read
CaixaBank joined by Atos, Temenos and Zafin as ecosystem continues to rapidly expand.
Consumers have come to expect their banking experience to be as modern and technology-driven as any retail shopping or online experience. As banks strive to deliver that experience, they are faced with myriad security and compliance challenges. On one hand, they must deal with the rapidly changing needs of consumers who are demanding new, more personalized services. At the same time, they must also manage evolving security in a world where cyberattacks are growing and comply with regulatory guidelines that increase the complexity of data governance. This is driving an increased need for banks to adopt hybrid cloud infrastructures to fuel their modernization journeys.
As the financial world looks to shift mission-critical workloads to the cloud, more high-profile banks are signing on to the IBM Cloud for Financial Services to help them manage complex data privacy and regulatory requirements on that journey, while using it as a springboard for innovation.
New agreement with CaixaBank
Today, IBM announced a new agreement with CaixaBank, one of the largest banks in Europe, and launched a new IBM Cloud Multizone Region (MZR) in Spain to support clients across the region as they adopt hybrid cloud strategies. This enables CaixaBank to reinforce its innovative vision by evolving its core applications and improving efficiencies with increased availability and resiliency.
IBM Cloud for Financial Services provides a security and compliance framework designed to lower risk and regulatory barriers that can impede transformation and innovation. Our industry-focused cloud is built on a true understanding of the real-world problems that clients in regulated industries face — based on decades of experience working with the world’s top financial services institutions. It features security capabilities — including confidential computing technology and ‘Keep Your Own Key’ encryption — to help financial institutions retain complete control of their data.
Ongoing partner momentum
Building on a growing roster of leading banks that are already turning to IBM — including Bank of America, BNP Paribas, MUFG, Banco Sabadell and now CaixaBank — we made several other announcements this week, with new partners joining the expansive ecosystem of more than 100 Global Systems Integrators, independent software vendors, SaaS providers and FinTechs supporting the IBM Cloud for Financial Services. They include the following:
- Atos announced the creation of a new Financial Services Center of Excellence and further collaboration with IBM around skills, training and services for the financial services industry. The Center of Excellence is a centralized virtual hub with offerings in areas like regulatory compliance, digital trust and security to help clients leverage the cloud at scale.
- Banking software company Temenos announced the availability of Temenos Transact with Red Hat OpenShift on IBM Cloud. Temenos Transact, a cloud-native banking platform, uses Explainable AI and machine learning to offer corporate and retail banking, wealth management and treasury functionality to financial services institutions.
- Zafin, a leading SaaS cloud-native product and pricing platform for financial institutions, will onboard to the IBM Cloud for Financial Services. Zafin is a global fintech leader that empowers financial institutions of all sizes to deliver personalized banking experiences.
These important additions further underscore the breadth of technology and expertise IBM brings together in a growing ecosystem used by customers to help streamline operations, increase efficiencies, reduce risk, decrease compliance costs and accelerate revenue growth. This is more evidence that banking leaders are looking to the cloud to meet demanding business flexibility needs.