Powering Next-Gen Banking Solutions
In a testament to its longstanding commitment to innovation in the banking sector, IBM Power has been honored with the prestigious Technology Partner Award from Finacle. This recognition underscores the strength of the two decades-long collaboration between IBM and Finacle in delivering cutting-edge banking solutions that are reshaping the industry landscape.
A Partnership Built on Innovation
For over 20 years, IBM Power and Finacle have been working hand in hand to provide financial institutions with robust, scalable, and secure banking solutions. This partnership has been instrumental in driving digital transformation across the banking sector, enabling banks to meet the evolving needs of their customers while navigating complex regulatory environments.
The Power Behind Modern Banking
IBM Power’s architecture offers several key benefits that make it an ideal platform for Finacle’s digital banking solutions:
1. Unmatched Reliability: With 50x fewer vulnerabilities compared to VMware, IBM Power’s PowerVM provides superior protection against insider threats, ransomware attacks, and VM vulnerabilities (ITIC 2022 Global Server Hardware, Server OS Reliability Report).
2. Scalability: IBM Power offers leading flexibility with a 58% lower entry Total Cost of Acquisition (TCA) and on-demand capacity that can scale within minutes, allowing banks to adapt quickly to changing demands.
3. Performance: IBM Power delivers massive memory bandwidth for superior throughput, ensuring fast and reliable experiences for both banks and their customers.
4. Cloud-Native Capabilities: With 4.3x more throughput per core when running OpenShift on IBM Power versus x86, banks can accelerate their journey to a hybrid cloud environment.
5. AI-Ready Infrastructure: IBM Power features on-chip AI acceleration for improved inferencing, complemented by Watson X for generative AI models.
Embracing the Future of Banking
As highlighted by Michele Richens, Ecosystem Business Development Executive at IBM Power Systems, in a recent video interview, banks are experiencing “extreme digitalization of their Solutions providing improved customer experience and access all the time everywhere.”
Michele Richens, Ecosystem Business Development Executive at IBM Power Systems
She further emphasized that “IBM power offers extremely resilient reliable and secure architecture” to support these transformations.
Michele Richens, Ecosystem Business Development Executive at IBM Power Systems
The combination of Finacle’s Digital Banking Suite and IBM Power’s robust infrastructure enables banks to:
– Deliver personalized products and experiences rapidly
– Increase revenue while decreasing operating costs
– Meet regulatory compliance requirements with ease
– Implement new applications on an established, trusted platform
A Visionary Approach
“By leveraging the power of the hybrid cloud, Finacle’s Digital Banking suite provides banks the agility they need to meet evolving customer demands, regulatory changes, and market dynamics. Our solution with IBM Power and Red Hat OpenShift will help enable us to deliver on our promise of unlocking superior value with modern technologies to drive deeper customer engagements and innovation-led growth.”
K R Venkatraman, Vice President and Head of Product Architecture at Infosys Finacle, emphasizes the importance of this collaboration
Looking Ahead
As banks continue to navigate the complexities of digital transformation, the partnership between IBM Power and Finacle stands as a beacon of innovation and reliability. This Technology Partner Award is not just a recognition of past achievements but a promise of future advancements in the world of digital banking.
For more information on modernizing with IBM Power and Finacle solutions, reach out to Michele Richens at IBM.
Source & Further Information
PDEX Blog: Finacle Solutions with Red Hat OpenShift on IBM Power
• Transforming Banking: Powering Core Banking Modernizations with IBM and Finacle – YouTube
• Infosys Finacle Article available directly here
• Sunil Yalagoor’s LinkedIn post here
• Prashant Saxena‘s LinkedIn post here
• Paul Chapman‘s LinkedIn post here
Credits
• Michele Richens – IBM Expanding the Linux on Power Ecosystem with Exciting ISV Partnerships
• Brandon Pederson – IBM i and Power Product Marketing Manager at IBM
• K R Venkatraman – Vice President and Head of Product Architecture at Infosys Finacle
• Prashant Saxena – Innovative Tech Leader Driving Business Success: Expert in AI, Digital Transformation, Cloud Technology, and IIM Lucknow Alum
• Sunil Yalagoor – IBM Senior Power Technical Manager
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