IBM Cloud for Financial Services™ Announcement - Now Generally Available
On April 7, 2021, IBM announced that the IBM Cloud for Financial Services™ is now generally available. The industry's first financial services-ready cloud platform now includes support for Red Hat OpenShift and other cloud-native services. First revealed in 2019, it was designed in collaboration with Bank of America. Since then, IBM has built a cloud environment capable of supporting the needs of the financial services industry for their mission-critical workload and data protection, with our compliance capabilities and industry-leading security1. The IBM Cloud for Financial Services™ is designed to help to reduce risk for financial institutions, their partners and FinTechs, and innovate quickly with built-in controls that are adhered to by the entire ecosystem.
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An ecosystem of more than 90 partners and FinTechs serving financial institutions worldwide
In addition to Bank of America, IBM is working with several global financial institutions such as BNP Paribas, Luminor Bank, MUFG and more. The IBM Cloud for Financial Services™ is supported by an ecosystem of more than 90 collaboration partners including new additions EY and Tata Consultancy Services, Independent Software Vendors (ISVs) and Software as a Service (SaaS) providers. As part of today's announcement, SAP has joined the IBM Cloud for Financial Services ecosystem, giving clients a diverse set of applications to deploy via the platform.
Secured Platform Designed for Open Innovation
With the general availability of IBM Cloud for Financial Services™, the financial services industry, including technology partners, can now build applications with Red Hat OpenShift, migrate virtual machine workloads, and establish compliance profiles across their workloads– to help support their continuous compliance needs. Financial services institutions can now accelerate their cloud journeys with IBM Cloud for Financial Services' built-in security and compliance controls for both cloud-native and VMware workloads.
Safeguard Data with Confidential Computing
To protect data across cloud-native and VMware workloads, IBM Cloud for Financial Services uses IBM's fourth-generation confidential computing capabilities and 'Keep Your Own Key' encryption delivered via IBM Hyper Protect Services and backed by the highest level of security certification commercially available1. This gives enterprises technology-backed control of their own encryption keys so clients are the only ones who can control access to their data. This same hardware-based assurance enables confidential computing, meaning that financial institutions can process critical data in a secured enclave within a shared cloud environment.
SAP Joins IBM Cloud for Financial Services Ecosystem
IBM Cloud for Financial Services established a growing ecosystem of more than 90 ISVs and SaaS providers to help enable financial services organizations integrate offerings from third-party providers and modernize core applications to improve the customer experience. With the addition of SAP, clients can now quickly engage with the largest enterprise app company across their workloads.
