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IBM Cloud Targets Financial Services Developers

At its InterConnect show, IBM unveiled developer tools for creating cloud applications in the financial services market. Big Blue also rolled out other cloud technologies.

Scott Ferguson

March 20, 2017

3 Min Read
IBM Cloud Targets Financial Services Developers

IBM is looking to push its version of the cloud deeper into the financial services and banking industries with new developer tools designed to create a new generation of applications for this market.

The developer tools, along with a new set of APIs, are part of IBM Cloud for Financial Services, which the company unveiled at the start of its InterConnect show in Las Vegas today.

The financial services tools are part of several different cloud and developer offerings IBM is detailing at the show. In addition, Big Blue announced a new blockchain initiative with SecureKey Technologies, which offers more protection and security to consumers, whether the person is dealing with a bank or another business. (See Blockchain: Can It Solve the Identity Crisis?)

Available in beta now, the IBM financial services tool set includes APIs, data and other content for developers who are looking to build applications for fintech, banks, insurance firms and wealth management companies.

By offering a set of API standards for its cloud, IBM is allowing developers to quickly create, test and then deploy financial services applications, including customer insights tools, regulatory and compliance analytics and security protocols.

IBM also announced a partnership with Singapore's central bank -- the Monetary Authority of Singapore (MAS) -- to develop applications for fintech in that country.

Figure 1: (Source: IBM) (Source: IBM)

In the public cloud and infrastructure-as-a-service market, IBM is fighting for market share again several other players, including Amazon Web Services, Google Cloud Platform, Microsoft Azure. (See Public Cloud Spending Will Hit $122B in 2017 – Report.)

Although AWS is considered the market leader in public cloud, IBM is trying to offer additional value to its cloud services by targeting developers with its APIs, as well as drawing on its legacy as a supplier of enterprise applications, although Amazon has also started bulking up its enterprise offerings as well.

In addition to its financial services offering, IBM announced a number of other developers' tools in different fields, including:

  • In a partnership with PlayFab, IBM is looking to give game developers access to its Watson Data Platform, which will allow developers to use the company's cognitive technology to build new games and gauge the user experience.

  • Within its Bluemix service, IBM will offer a new container service that uses Kubernetes to help manage the infrastructure, as well as to create and secure applications within containers.

  • Finally, IBM will partner with Galvanize to offer cognitive computing and cloud skills to data scientists and others working on big data projects.

IBM InterConnect runs through March 23.

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— Scott Ferguson, Editor, Enterprise Cloud News. Follow him on Twitter @sferguson_LR.

About the Author(s)

Scott Ferguson

Managing Editor, Light Reading

Prior to joining Enterprise Cloud News, he was director of audience development for InformationWeek, where he oversaw the publications' newsletters, editorial content, email and content marketing initiatives. Before that, he served as editor-in-chief of eWEEK, overseeing both the website and the print edition of the magazine. For more than a decade, Scott has covered the IT enterprise industry with a focus on cloud computing, datacenter technologies, virtualization, IoT and microprocessors, as well as PCs and mobile. Before covering tech, he was a staff writer at the Asbury Park Press and the Herald News, both located in New Jersey. Scott has degrees in journalism and history from William Paterson University, and is based in Greater New York.

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