Fintech
IBM Cloud: Meeting the challenges of financial regulation
Additionally, Alan says leveraging industry-specific clouds further enables companies across all regulated industries to balance innovation and prioritize compliance.
“Financial institutions need an enterprise-grade platform with integrated security and controls to help them manage mission-critical workloads,” he says.
“By automating these controls, companies can focus more on delivering real business results. For example, IBM Cloud for Financial Services was built with the highest set of regulatory and compliance standards established by the IBM Financial Services Cloud Council, a network of CIOs, CTOs, CISOs, and risk and compliance officers from more than 100 institutions global financial institutions working together to drive the strategy and evolution of cloud security.”
Today, IBM’s enterprise-grade platform is optimized to help organizations in highly regulated industries – including financial services, healthcare, telecommunications, government and more – manage mission-critical workloads by prioritizing resiliency, performance, security , compliance and total cost of ownership.
Alan concludes: “Ultimately, while regulations can be difficult to manage, they should be considered essential to promoting safe innovation.
“Many, if not all, data requirements are designed to ensure that consumers and businesses have confidence that their data is always protected. Building trust and transparency requires all of us – regulators, cloud providers and businesses – to come together.”
Earlier this week, we looked at what makes IBM one of the leading banking technology companies in 2024.