EY and IBM launch centre to accelerate FS digital transformation

EY and IBM have launched a Centre of Excellence to help financial institutions accelerate digital transformation with hybrid cloud solutions.

According to a 2020 IBM banking on open hybrid multi-cloud survey, while 91 per cent of financial institutions are actively using cloud services today or plan to in the next nine months, on average only 9 per cent of their mission-critical regulated banking workloads have shifted to a public cloud environment.

The new centre is a centralised virtual hub with features exploring a number of areas, including regulatory compliance, digital trust, and security, to help users leverage the cloud.

The two companies have already launched seven hybrid cloud solutions including multi-hybrid cloud management, application modernisation, cloud security and cloud risk management.

“Working closely with IBM to create a hybrid cloud strategy is at the centre of the EY-IBM Alliance to drive significant value to financial services clients,” said Peter Davis, EY Americas financial services markets and solutions leader. “As EY clients modernise their infrastructure, the Centre of Excellence will focus on driving business value and helping them recognize the benefits of a secured and reliable hybrid cloud approach.”

Howard Boville, head of IBM Hybrid Cloud Platform, said: “Industry-specific cloud offerings are essential to increasing cloud adoption in highly regulated industries such as financial services. As part of the Centre for Excellence, we’re helping financial institutions modernise their systems by integrating EY industry and regulatory experience with IBM’s open hybrid cloud and cognitive technologies, to ultimately fuel customer digital transformation.”

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