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IBM In Deal With Bank Of America For Financial Services-ready Cloud

ibmbankofamerica nov06 lt

International Business Machines Corp. or IBM, is set to launch the world's first financial services-ready public cloud platform soon, by collaborating with Bank of America Corp. and using the platform built on IBM's public cloud.

The Bank is expected to host key applications and workloads to address the requirements as well as privacy and safety expectations of its 66 million banking customers.

IBM has also welcomed other financial services institutions, and their suppliers, to join the platform and host their applications on it. The platform is expected to offer regulatory compliance, data security, resiliency, privacy, and customer information safety needs on the public cloud.

IBM claims that this is the only financial industry-specific public cloud platform that can provide preventative and compensatory controls for financial services regulatory workloads, multi-architecture support and proactive and automated security, leveraging the industry's highest levels of encryption certification.

The platform will enable Independent Software Vendors (ISVs) and Software-as-a-Service (SaaS) providers, large and small, to focus on their core offerings to financial institutions, with the controls and security for the platform already in place.

The platform will only allow technology vendors such as ISV or SaaS providers who comply with the platform's policies to deliver offerings through it.

IBM's public cloud uses Red Hat OpenShift as its primary Kubernetes environment to manage containerized software across the enterprise, and includes more than 190 API driven, cloud native PaaS services to create new and enhanced cloud-native apps.

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