Sopra Banking Software selects IBM Cloud via Red Hat OpenShift

By Megha Bhattacharya

Sopra Banking Software today announced that it will join the IBM Cloud for Financial Services Ecosystem. The ecosystem is designed to help financial institutions transact with technology vendors, such as Sopra Banking Software, who have met the platform’s security and compliance requirements.

According to Sopra, the development will allow it to use IBM Cloud for Financial Services on Red Hat OpenShift to power its banking and financing platform, two properties that help financial institutions engage with their customers while processing deposits, savings, payments, lending, collection, risk calculations and regulatory reporting in any cloud environment.

“In today’s fluid market, banking and financial services players must keep pace,” said Eric Bierry, Deputy CEO, Sopra Banking Software. “We intend to make our solutions compatible with the IBM Cloud for Financial Services to help ensure our clients can innovate and go-to-market quickly, while modernizing their infrastructures to maximize the customer experience in a highly-secure environment.”

Recently, Sopra Banking Software and Leek United Building Society announced an agreement to extend their existing relationship to include SBS’s cloud-based managed service offering for the Sopra Banking Platform Mortgage & Savings Suite and SBS’s digital savings solution. Leek United has selected SBS to provide a cloud-based managed service offering, as well as contracting to implement a new digital savings platform later in 2021.

“Our collaboration with Sopra Banking Software reinforces our commitment to help partners modernize,” said Brendan Kinkade, Vice President, Technology and Hybrid Cloud Partnerships, IBM Cloud, and Cognitive Software. “By onboarding its solutions to the IBM Cloud for Financial Services, Sopra Banking Software can increase its speed to market by addressing the third- and fourth-party risks to serve clients and process confidential transactions with confidence.”