IBM lures banks’ critical workloads to financial cloud as ‘threat’ from big tech looms large
Having signed a trio of new banks to its financial services-specific cloud, the computing giant is betting on cutting-edge technologies like confidential computing to entice banks threatened by big tech firms.
The biggest threat facing the investment banking industry today isn’t coming from regulators, other types of financial firms, or activist investor movements, but rather from its suppliers—big tech and fintech companies, according to Likhit Wagle, general manager of global banking and financial markets at IBM. And to fend off that threat, big banks will need to behave more like big tech, and in particular increase their agility by making more use of public cloud resources.
“Those businesses are
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Emerging Technologies
Waters Wavelength Ep. 304: Nice Actimize’s Lee Garf
Lee joins to discuss changes in communication platforms over the last few years.
DTCC revamps data distribution, collection efforts with cloud, AI
The US clearinghouse is evaluating the possibilities that cloud and AI offer to streamline the processes by which it collects and makes data available to market participants.
Agentic AI and big questions for the technologists
Waters Wrap: Much the same way that GenAI dominated tech discussions over the last two years, the road ahead will feature a lot of agentic AI talk—and CIOs and CTOs better be prepared.
Waters Wavelength Ep. 302: Connectifi’s Nick Kolba
Nick joins the show to give his views on trends in the interoperability space and the FDC3 standard.
AI co-pilot offers real-time portfolio rebalancing
WealthRyse’s platform melds graph theory, neural networks and quantum tech to help asset managers construct and rebalance portfolios more efficiently and at scale.
Waters Wavelength Ep. 301: SIX’s Javier Hernani
Javier Hernani, head of securities services at SIX, joins to discuss everything T+1.
Bloomberg debuts GenAI news summaries
The AI-generated summaries will allow financial professionals to consume more data, faster, officials say.
8 bank CTOs and CDOs sound off on artificial intelligence
Waters Wrap: Last year, WatersTechnology spoke with heads of technology and data from a range of tier-1 banks. Anthony pulls at one common thread from those interviews: AI.