New IBM India platform empowering banks

NEW DELHI: For those financial institutions including banks in the country that are still hesitant to embark on a Cloud journey for complete digital transformation due to genuine apprehensions emanating from safety and regulatory concerns, there is help at hand, say IBM India executives.

Banks know well that embracing the Cloud ecosystem can open the floodgates to innovations that can drive growth, increase efficiencies and more importantly, make the customers happier.

But the sensitivity of the data that they handle and the regulatory framework within which they must operate tend to sap their confidence.

However, IBM has a Cloud service precisely to address these concerns, two top executives of the company said.

"The world's first FSS (financial services sector) Cloud provided by IBM has all these capabilities — with the clear intent to handle highly regulated workloads," Subram Natarajan, Chief Technology Officer, IBM India/South Asia, told IANS.

The IBM Cloud for Financial Services offering is designed to enable a transparent public Cloud ecosystem with the specific features for security, compliance and resiliency that financial institutions require.

IBM says that banks can confidently host their mission-critical applications in the Cloud and transact quickly and efficiently.

"As a strategy, banks may choose to move some of the infrastructure environments for a subset of applications, to the Cloud," Natarajan said.

"While banks can realise the cost benefits arising out of the 'pay as you use' models, especially for these workloads, it gives them a Hybrid Cloud environment to operate both from on-premise as well as on public Cloud, interchangeably," he added. (IANS) 

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