IBM Provides Highly Secure And Resilient Cloud For Financial Services

IBM has created a cloud practice aimed at regulated businesses, with a focus on financial services.

“IBM is well entrenched in terms of providing technology for mission critical services in financial services around the world,” said Howard Boville, SVP & head of IBM Cloud Platform.

The U.S. Department of the Treasury recently released a report on financial services and the cloud noting some concerns about how much information cloud service providers (CSP) release to financial services firms, the concentration of service providers and differences in regulation across the globe.

Working with an active group of more than 130 financial firms (IBM Financial Services Cloud Council), IBM is learning what they need from cloud providers and incorporating those requirements — such as compliance and security — into its cloud offering.

In 2012 to 2014 cloud became a general purpose resource, not mission critical and certainly not regulated, said Boville. The company is talking with financial firms about managing third and fourth party, risk, he added.

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