Bob Evans recently spoke with Ivo Koerner, General Manager, Chief Revenue Officer, IBM Cloud. Koerner tells Bob about how the IBM Cloud for Financial Services, which is co-created with the industry, creates room for innovation, as opposed to solely focusing on compliance. Additionally, the two discuss how the IBM Cloud for Financial Services offers real-time compliance monitoring for financial institutions and brings forth a unified approach for customers, partners, fintechs, and ISVs.
Reducing Go-to-Market Times with IBM Cloud for Financial Services Compliance Frameworks
The Big Themes:
- Creating room for innovation: Financial services companies spend 60-70% of their IT budgets on compliance, leaving little room for innovation. This is a critical area that the IBM Cloud for Financial Services, a solution that is co-created and co-built with the industry, addresses.
- Real-time compliance monitoring: IBM offers real-time, constant compliance monitoring to banks and financial institutions, reducing their time to implement a solution to 6-12 weeks, which is significantly faster than what they are used to.
- Bringing a unified approach forward: IBM supports its Financial Cloud customers with control frameworks and framework mapping, creating a faster deployment and implementation approach.
The Big Quote: “I think, with our [IBM’s] understanding, and what we now have built with the hybrid cloud approach and the underlying technologies, we really open up that you get the best of all worlds. 100% sure a lot of the banking workload will remain on the mainframe. But you need to have, let’s say, part of the workloads most likely in platforms like IBM Cloud for Financial Services, but you still need to manage different providers. So you will always have multi-clouds in your IT shop. With what we are now building, and we’ve built over the last few years, we basically build a coherent strategy and platform to get the best of, let’s say, the traditional mainframe workload and the future.”
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