back Back

EY and IBM creates Center of Excellence to accelerate digital transformation for FIs

By Pavithra R

May 12, 2021

  • America
  • Ey
Share

EY and IBM creates Center of Excellence to accelerate digital transformation for FIsEY and IBM announce the creation of Center of Excellence to help financial institutions accelerate digital transformation with hybrid cloud solutions.

The Center of Excellence is a centralized virtual hub with offerings in areas like regulatory compliance, digital trust and security to help clients leverage the cloud at scale. The hybrid cloud solution is available on IBM Cloud for Financial Services and is built with Red Hat OpenShift. It leverages IBM technology and EY teams’ experience working with FIs executing business transformation, risk management, cloud migration, and compliance to drive digital transformation and accelerate cloud adoption, including through the EY Cloud Enablement Center.

The majority of banking and financial services organizations are yet to deploy core systems to the cloud due to the complexity and concerns over security, risk, governance and control. EY and IBM have already launched 7 hybrid cloud solutions including multi-hybrid cloud management, cloud security, application modernization, and cloud risk management. These offerings are built to address the specific and evolving needs and requirements of financial services organizations to support their transitions to the cloud. As a result, FIs can transform their business processes and services to focus on customer centricity, cost reduction and resilience, as well as remain competitive in the digital age.

“Working closely with IBM to create a hybrid cloud strategy is at the center of the EY-IBM Alliance to drive significant value to financial services clients. As EY clients modernize their infrastructure, the Center of Excellence will focus on driving business value and helping them recognize the benefits of a secured and reliable hybrid cloud approach,” said Peter Davis, EY Americas Financial Services Markets & Solutions Leader.

EY and IBM hybrid cloud offerings provide financial services clients with the following:

  • Mission-critical workload modernization that will accelerate digital enablement and performance of core systems
  • Technology risk and compliance-focused solutions to help mitigate risk
  • Security solutions that are customized for financial services enterprises
  • Multi/hybrid cloud solutions to drive digital transformation

The announcement is the latest step as part of the expanded EY-IBM Alliance announced in July 2020.

“Industry-specific cloud offerings are essential to increasing cloud adoption in highly regulated industries such as financial services. With IBM Cloud for Financial Services, we’re providing a platform designed with built-in security and compliance features, and are accelerating innovation by collaborating with leaders like EY. As part of the Center for Excellence, we’re helping financial institutions modernize their systems by integrating EY industry and regulatory experience with IBM’s open hybrid cloud and cognitive technologies, to ultimately fuel customer digital transformation,” said Howard Boville, Head of IBM Hybrid Cloud Platform.

Previous Article

May 12, 2021

PayNearby Aadhaar ATMs withdrawals cross INR 400 billion

Read More
Next Article

May 12, 2021

Flexa partners with Aurus to enable instant acceptance of digital currencies for merchants

Read More








IBSi Daily News Analysis

Generative AI

April 12, 2024

America

Security experts sound the alarm on Deepfake threats in the age of AI

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

April 12, 2024

Navy Federal Credit Union expands partnership with Backbase

Read More

April 12, 2024

FinTech Focus: Catch latest developments of the week

Read More

April 12, 2024

Genesis launches Credit Insurance Application

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023