IBM has made major inroads into banks and other regulated industries based on the approach it has taken – namely building its cloud to support the relevant regulations from the outset so that if a fintech company uses the IBM cloud, its software automatically inherits the required controls while it focuses on developing the functional capabilities that banking customers require. Because of this approach, IBM has grown from eight large banking customers two years ago to now having 400 banks. “Increasingly, CEOs of banks are demanding their SaaS providers move onto IBM Cloud” for these reasons, he said. “When you go with IBM Cloud, you massively reduce cost in that space.”
Boville himself came to IBM from a senior technology leadership role at Bank of America, so he’s intimately familiar with the requirements and thinking of large banks. Acceleration Economy CXO analyst Wayne Sadin gives IBM props for hiring a person who understands the CIO role and the key industries to lead its cloud business.
Boville addressed the war for technology talent and explained some key measures IBM is taking to enhance its ability to attract talent. For instance, 50% of the company’s open technology roles don’t require a college degree. The company is also investing heavily in vocational and skills-based training, he said.
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