IBM Consulting, recently rebranded from IBM Global Business Services, has embarked on a future-forward collaboration with Tietoevry Banking, a banking-as-a-service and payment software company.
Tietoevry’s complete payment software portfolio will be integrated into the IBM Cloud for Financial Services, with IBM offering their consulting services on the best practice for system integration, compliance, and transition to the cloud.
Accelerating digital banking transformation, Tietoevry Banking specialises in payment software, open banking, credit platforms and cybersecurity to prevent cases of consumer and enterprise fraud.
As fraud becomes a more prevalent issue in a digital world, banks are turning to cloud security and optimising banking infrastructures on-demand in the cloud. The cloud is promises to be the golden ticket and catalyst for enterprise transformation which C-Level executives, IT leaders and banking professionals are eager to invest in.
Transforming secure infrastructures within banking in turn achieves consumer trust by streamlining onboarding processes and consumer-facing interface. Banks are preparing now for unprecedented influence of consumers in the years to come, increasingly adopting new technologies that are interoperable with a cloud-based business model.
Ilkka Korkiakoski, Head of Tietoevry Banking, Payments said:
“Combining IBM’s state of the art with our deep knowledge in payments and cards is a perfect match to drive the payments industry to the next level. It will open new doors and can extend our footprint and delivery capability outside the Northern Europe”.
Together the partnership will also aim to help joint clients in two areas: modernising their businesses and adopting a hybrid cloud system and meeting strict industry requirements for compliance, security, and reliability.
Paul Krogdahl, CTO at IBM echoed this sentiment of “helping banks drive innovation and to support security and compliance needs”.
He also made reference to IBM’s “long history” of working with clients in highly regulated industries .
“This initiative with Tietoevry Banking further expands our technology portfolio of financial services ecosystem partners with additional capabilities. We expect to see robust growth in the payments, cards and banking services as a platform space as an increasing number of banks globally choose to consume services as part their business strategy rather than buying or building software on their own.”