IBM announced that the general availability of the industry’s first financial services-ready cloud platform, IBM Cloud for Financial Services. 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.
Availability to build apps with Red Hat Openshift
With the general availability of IBM Cloud for Financial Services, the financial services industry, including technology partners, can build applications with Red Hat OpenShift, migrate virtual machine workloads, and establish compliance profiles across their workloads.
Howard Boville, Head of IBM Hybrid Cloud Platform, said,
“Together with some of the world’s largest banks and leaders in regulatory compliance we are driving a change in cloud adoption for highly regulated industries, aiming to improve the security and compliance posture for the industry. With a focus on data security delivered with IBM’s confidential computing and sophisticated encryption capabilities, we aim to reduce risk in the supply chain for banks, insurers and other financial services industry players, and at the same time accelerating the time by which they can drive and consume innovation.”
First revealed in 2019, the IBM Cloud for Financial Services 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 security.
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.