IBM ties up with Intellect Design Arena to launch cloud services for banks, financial institutions
- Banking and insurance products company Intellect Design Arena Ltd and IBM have collaborated to launch Intellect iTurmeric FinCloud on IBM’s public cloud.
- “ITurmeric FinCloud – a cloud-ready, API-first, microservices-based platform – enables banks and financial institutions to be progressively modernized while ensuring business continuity without the risk of rip and substitution,” Arun Jain, Wisdom Design Chairman and Managing Director, told Newspapers at the Virtual Press Meet. He declined to give any numbers citing a quiet period before the financial results were declared.
- A joint press release stated that IBM is one of the first independent software vendors and software-as-a-service (SaaS) providers to on-board Intel’s offerings on a public cloud ready for financial services.
- Arun Jain said that by offering iTurmeric FinCloud on IBM Financial Services ready public cloud, Intelligent expanded its presence in advanced and emerging economies by introducing innovative cloud-based solutions to financial institutions to accelerate their digital transformation journey
- “Our collaboration with IBM was a natural progression, helping financial institutions overcome economic pressures around regulation, security and flexibility.
- IBM’s market penetration and range of services are the perfect complement to our product expertise.
- Shankar Ramamurthy, GM Strategy and Market Development- Global Industries, Platform and Blockchain, IBM, said: “By bringing Intelligent’s iTurmeric FinCloud platform to the public cloud ready for financial services, we are helping drive innovation across the industry.”
About IBM-
- International Business Machines Corporation (IBM) is an American multinational technology company.
- IBM produces and sells computer hardware, middleware and software, and provides hosting and consulting services in areas ranging from mainframe computers to nanotechnology.
- Founded – 16 June 1911
- Headquarters – New York
- President– Jim Whitehurst.
- Chief Executive Officers (CEO)– Arvind Krishna
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