ARMONK, N.Y., July 22, 2020 /PRNewswire/ -- IBM
(NYSE: IBM) today announced that several global banks
including BNP Paribas, one of Europe's largest banks, will join a growing
ecosystem of financial institutions and more than 30 new technology
providers adopting IBM Cloud for Financial Services. Today's news
also marks a significant milestone in IBM's collaboration with Bank
of America, with the availability of the IBM Cloud Policy Framework
for Financial Services. The IBM Cloud Policy Framework for
Financial Services establishes a new generation of cloud for
enterprises with common operational criteria and streamlined
compliance controls framework specifically for the financial
services industry, allowing IBM's growing financial services
ecosystem to transact with confidence.
IBM is also announcing the formation of the Financial Services
Cloud Advisory Council to support this effort and advise on the
ongoing advancement of the IBM Cloud Policy Framework for Financial
Services. Chief Technology Officer Tony
Kerrison will represent Bank of America on the Council,
which will be led by Howard Boville,
SVP, IBM Cloud. The Council will be focused on bringing major
financial institutions together to help drive the strategic
evolution of cloud security in this highly regulated sector.
"We have had great success with our proprietary, private cloud,
that currently houses the majority of our technology workloads,"
said David Reilly, Bank of America's
Global Banking & Markets, Enterprise Risk & Finance
Technology and Core Technology Infrastructure executive. "At the
same time, we have been looking to identify a financial
services-ready solution that offers the same level of security and
economics as our private cloud with enhanced scalability. That's
why we're partnering with IBM to create an industry-first, third
party cloud that puts data resiliency, privacy and customer
information safety needs at the forefront of decision making."
Central to the development of the IBM Cloud for Financial
Services, IBM collaborated with Bank of America and Promontory, an
IBM Services business unit and global leader in financial services
regulatory compliance consulting, to establish a set of cloud
security and compliance control requirements as the basis of its
policy framework, which will allow financial institutions to
confidently host key applications and workloads. The IBM Cloud
Policy Framework for Financial Services is now available and aims
to deliver the industry-informed IBM public cloud controls required
to operate securely with bank-sensitive data in the public cloud.
IBM, Promontory and the advisory council will continue to
collaborate to assure that the framework will be up to date
to address the latest industry regulations.
BNP Paribas joins IBM Cloud for Financial Services
BNP Paribas has committed to joining the IBM Cloud for Financial
Services as an anchor client in Europe to support its first dedicated cloud in
Europe to be GDPR compliant,
acknowledging that a public cloud informed by IBM's deep financial
industry expertise, controls framework and industry-leading
data-protection capabilities, meets their exacting standards. BNP
Paribas will utilize a dedicated cloud, developed and managed by
IBM, that will leverage IBM public cloud technologies, including
Keep Your Own Key (KYOK) encryption capabilities. BNP Paribas could
plan to onboard additional banking partners to the ecosystem across
Europe in the future.
"As we continue to expand our collaboration with IBM, we're
driving innovation in the financial services industry and are able
to partner with a growing ecosystem of technology providers, from
small startups to leaders in the industry. That's an
important step forward for BNP Paribas Group to accelerate its
transformation journey and be compliant with European regulations,"
Bernard Gavgani, CIO, BNP Paribas. "IBM Cloud for Financial
Services helps us to further our transformation journey to the
cloud and migrate mission critical workloads with confidence
knowing that we can meet the regulatory standards established for
the industry."
IBM Grows Financial Services Cloud Ecosystem
Additionally, MUFG Bank plans to explore the deployment of IBM
Cloud for Financial Services in Japan, continuing its ongoing transformational
journey with IBM to accelerate digital reinvention.
"MUFG has been shifting its IT workload to cloud for years, with
strong focus on keeping our data secure and mitigating operational
risks on this new and fast-changing technology platform. We believe
IBM Cloud for Financial Services will be suited to help Japanese
financial institutions redirect their efforts to maintain legacy
systems toward digital reinvention in the era of new normal. We
look forward to continuing discussions around our strategic
partnership with IBM to leverage best-in-class technology for our
mission-critical workloads, as well as to drive digital
transformation across MUFG", said Mr. Hiroki Kameda, Managing Corporate Executive
Group CIO of MUFG.
IBM has also expanded its growing ecosystem of Independent
Software Vendors (ISVs) to include more than 30 partners. These
technology providers have committed to onboarding offerings and
cloud services to IBM Cloud for Financial Services that will
help address stringent security, resiliency and compliance
requirements and can accelerate transactions with financial
services institutions.
"With major financial institutions and technology partners
joining our financial services cloud, IBM is establishing
confidence within the industry and around the globe that the IBM
public cloud, equipped with industry-leading encryption
capabilities, is the enterprise cloud for all highly regulated
industries, including financial services healthcare, telco,
airlines and more," said Howard
Boville, Senior Vice President, IBM Cloud. "IBM is creating
a platform with the goal that financial services institutions can
address their regulatory requirements, while creating a
collaborative ecosystem that helps enable banks and their providers
to confidently transact."
New IBM Research Cloud Innovation Lab and Innovative Security
Capabilities for Clients
IBM Research has played a central role in the technology
underpinnings of the IBM Cloud for Financial Services, taking a
holistic approach to security and compliance that spans
infrastructure, platform, data, and the developer workflow. For
example, developed in collaboration with IBM Research, IBM will
launch the IBM Cloud Security and Compliance Center which will
allow clients to continuously monitor and enforce their security
and compliance posture across their workloads, and provide a
seamless, automated and adaptable process for improving cloud
security. Following on the heels of its recent acquisition of
Spanugo, the IBM Cloud Security and Compliance Center will
include the ability to instrument the developer workflow with
automated security and compliance checks.
Once the IBM Cloud Security and Compliance Center is available
in August 2020, global banks and ISVs
with workloads on the IBM Cloud for Financial Services, will be
able to define their compliance profiles and manage controls,
maintain an extensive data trail for audit, and, in continuous real
time, monitor compliance across their organization. Promontory will
continue to provide tailored, IT risk advisory services to users of
the IBM Cloud for Financial Services.
To enable financial services clients and ecosystem partners to
benefit from, and influence, the emerging cloud technologies being
created at IBM Research, IBM will launch the IBM Research Cloud
Innovation Lab, planned for August, 2020. Clients and industry
partners of the IBM Cloud for Financial Services will be able to
get a first look at the latest innovations from the IBM Research
lab as well as quickly experiment, go deep into the technology and
functionality of new cloud solutions and exchange ideas. More
information on the IBM Research Cloud Innovation Lab and IBM Cloud
Center for Security and Compliance can be found here.
IBM Cloud for Financial Services is built on IBM public cloud,
powered by the same industry-leading confidential computing
security found in IBM Z. Delivered via IBM Hyper Protect Services,
it features 'Keep Your Own Key' encryption capabilities backed by
the highest level of security certification commercially available,
making the IBM public cloud the industry's most secure and open
public cloud for business.
For more information please visit
www.ibm.com/cloud/public
Statements regarding IBM's future direction and intent are
subject to change or withdrawal without notice, and represent goals
and objectives only.
CONTACT:
Kaveri Camire
IBM Communications
kcamire@us.ibm.com
Suzanne Cross
IBM Communications
Suzanne.cross@us.ibm.com
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SOURCE IBM