IRVING, Texas, July 1, 2015 /PRNewswire/ -- BT today announced a
new drive to accelerate innovation in global financial markets by
bringing fintech start-ups onto the BT Radianz Cloud, the world's
largest, secure networked financial community. The Radianz Cloud
celebrates its 15th anniversary this year.
Fintech start-ups are a growing source of innovation in the
financial markets industry. But their small size creates
challenges around market adoption, delivery and meeting the
stringent contractual or compliance expectations of large financial
institutions.
By hosting their solutions in the data centers, or on the
growing range of cloud computing services connected to the Radianz
Cloud, BT can provide fintech companies of all sizes with a
ready-to-exploit market reach and commercial structure. This,
combined with BT's secure, scalable and managed operational
infrastructure, can help them to grow quickly.
The Radianz Cloud links a community of thousands of brokers,
institutions, exchanges and clearing and settlement houses. Through
a single, resilient and secure network connection, members can
reliably access thousands of applications and services from more
than 400 providers critical to the every-day running of the global
financial sector. It's part of BT's 'cloud of cloud' vision
to give firms greater control over how they use cloud-based
applications and services.
The simple and proven BT Radianz Cloud model uses both managed
hosting and connectivity services delivered separately or as a
seamless bundle, with in-built security and resilience, delivering
100 per cent availability.
One of the fintech start-ups already taking advantage of this
route to market is Algomi, an award winning firm providing
information matching solutions to optimize fixed income liquidity
and aggregation. It wanted scale and flexibility to deliver
services into major financial institutions.
BT worked with Algomi, using Radianz hosting space, cloud
computing, connectivity and BT managed services, to help the
fintech company meet the strict service level agreements and terms
and conditions of its target customers. Now, Algomi can deliver
services to a market of thousands of Radianz community members,
including many of the world's leading financial service
providers.
Usman Khan, chief technology
officer, Algomi, said: "Growing fintech firms face many barriers to
entry when trying to introduce new solutions to large financial
institutions. Typically, these are big companies used to
dealing with other big companies. With the BT Radianz Cloud,
Algomi gets the scale and reach it needs on tap, backed by BT's
experience and capability of delivering solutions to large
financial services organizations. It's an ideal platform for
growth."
Tom Regent, president, global banking and financial markets, BT
Global Services, said: "Since its launch 15 years ago, Radianz has
been a driving force of innovation. Today our community
members are as keen as ever to find new ways to grow, address
regulations and drive efficiencies. Our new initiative will
create a ready-made market place for fintech innovation bringing
together smart start-ups and financial institutions. We will be
making further investments in our cloud computing infrastructure to
further support this strategy.
"Fifteen years ago, Radianz launched with a strapline of 'One
community. One connection. One focus'. This message is as
true today as it was then."
The Radianz Cloud was launched in 2000 and has evolved with the
market and the changing needs of BT's clients. It established the
world's largest financial services community and then grew to
encompass managed hosting in more than 20 data centers globally,
where significant clusters of capital markets organizations are
present.
BT's cloud of clouds approach combines organizations' needs for
choice, flexibility and security with a services provider that
knows how to make it work together. Based on secure, managed
connectivity spanning public and private clouds as well as third
party cloud providers, BT's cloud of clouds approach helps
organizations integrate and manage all their cloud services in a
seamless manner, delivering end-to-end application performance and
efficiency.
For further information
All news can be accessed
at our web sites:
http://www.globalservices.bt.com/us/en/news and
http://www.btplc.com/news
About BT
BT's purpose is to use the power of
communications to make a better world. It is one of the
world's leading providers of communications services and solutions,
serving customers in more than 170 countries. Its principal
activities include the provision of networked IT services globally;
local, national and international telecommunications services to
its customers for use at home, at work and on the move; broadband,
TV and internet products and services; and converged fixed/mobile
products and services. BT consists principally of five
customer-facing lines of business: BT Global Services, BT Business,
BT Consumer, BT Wholesale and Openreach.
For the year ended 31 March 2015,
BT Group's reported revenue was £17,979m with reported profit
before taxation of £2,645m.
British Telecommunications plc (BT) is a wholly-owned subsidiary
of BT Group plc and encompasses virtually all businesses and assets
of the BT Group. BT Group plc is listed on stock exchanges in
London and New York.
For more information, visit www.btplc.com.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/bt-creates-innovation-in-financial-markets-with-fintech-start-ups-initiative-300107522.html
SOURCE BT