German software giant SAP is onboarding two of its finance and data management solutions to IBM Cloud for Financial Services.
IBM has been actively promoting cloud adoption within the financial services sector, emphasizing built-in security and compliance controls that help organizations mitigate risks and overcome regulatory challenges.
IBM Cloud for Financial Services provides a secure, purpose-built environment for financial institutions to engage with a network of over 100 technology partners and fintech companies. Customers can now leverage this service to access SAP’s finance and data management technologies.
“As we continue to add partners, such as SAP, to our growing ecosystem, we’re one step closer to driving true change in cloud adoption for the industry and ultimately helping to reduce risk throughout the supply chain,” stated Joel Spieth, General Manager of IBM Cloud for Industries.
In a parallel development, India’s HCL Technologies has become a launch partner for Microsoft Cloud for Financial Services, which, like IBM’s offering, aims to deliver multilayered security and comprehensive compliance.
Bill Borden, Corporate Vice President of Worldwide Financial Services at Microsoft, commented, “Banking customers working with HCL’s deep expertise in retail banking can take advantage of a tailored cloud solution built on Microsoft’s trusted platform, ensuring robust security and compliance that accelerates time to value while unlocking innovation for sustainable growth.”