IBM, Bank of America collaborate on financial services ready public cloud

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The Industry Cloud: Why It's Next

The Industry Cloud: Why It’s Next

The industry cloud has taken off and big businesses have been built by the likes of Veeva, Rootstock and others. Here’s why the focus has allowed the industry to thrive even as giants like Salesforce, Oracle and SAP eye their turf.

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IBM said it is designing a public cloud that’s build for financial services and developing it with Bank of America.

However, IBM said it has not committed to building other industry specific clouds at this time. What’s notable though is how cloud providers are increasingly targeting industries much as enterprise software vendors do. Salesforce has a version of its cloud for financial services.

IBM’s effort with Bank of America is to build a platform on Big Blue’s cloud that will support various financial services requirements ranging from regulatory to privacy. Bank of America is the first collaborator on the financial services cloud, but IBM said it is welcoming other institutions.

The goal of the financial services platform is to meet regulatory, security and resiliency requirements while accounting for various workloads, multiple architectures and proactive security. IBM said its financial services public cloud will enable other software vendors and cloud players to connect and transact.

Bank of America has been migrating to the cloud and has a hybrid architecture. IBM’s financial services ready cloud will use Red Hat OpenShift as its Kubernetes environment. Bank of America will also work with Promontory, an IBM unite focused on financial services regulatory consulting. More IBM:

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