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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.

(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.

kq4ym 3/24/2017 | 10:57:26 AM
Re: IBM It does look like IBM is surely taking a good move to compete effectively against Amazon  and others in the field. Noting that "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," it should bode well for them in the long run.
Ariella 3/22/2017 | 9:32:55 AM
Re: Watson Now I'm really convinced that FB is reading my information here, though it's using it to get companies to tell me what I've indicated I already know. After having mentioned that IBM is extending an offer to try Watson for free, I see an ad for just that in my FB feed. I rarely click such ads but did so out of curiosity for this case. It leads to the same IBM link I shared yesterday. 
JohnMason 3/21/2017 | 8:42:56 PM
Re: Watson Thank you for the link. I will look forward to experimenting with it. If what I find is relevant to this site, I may report back here.
Ariella 3/21/2017 | 5:28:53 PM
Re: Watson @JohnMason Well, according to its site, you can try it out for free. See https://www.ibm.com/analytics/watson-analytics/us-en/
JohnMason 3/20/2017 | 11:40:01 PM
Watson I would love the chance to experiment with the Watson platform. One of the tasks of a financial advisor is to "know the customer." I wonder if Watson could correctly categorize a customer via automated interactions? I imagine so.
danielcawrey 3/20/2017 | 3:38:43 PM
Re: IBM This is a great concept. Banking technology is still so stuck in the past. And every bank seemingly has a very different system. With technology from companies like IBM, maybe financial firms can bring money into the future. 
Ariella 3/20/2017 | 12:32:45 PM
Re: IBM @Scott. Absolutely, it's a smart strategy: capitalize on your company's particular strengths in distinguishing what you can offer over the competition.
Scott_Ferguson 3/20/2017 | 12:18:11 PM
Re: IBM @Ariella: Your right and IBM, along with Microsoft, are behind AWS in terms of market share in public cloud/IaaS. However, what both are trying to do, to help overcome that gap, is to offer as many enterprise-level services that AWS can't offer. It's one way to draw on some of their legacy in enterprise apps. 
Ariella 3/20/2017 | 11:17:42 AM
IBM IBM is one of the major cloud players, though it is still several notches behind AWS in poularity. Perhaps the develpment of these applications will make its name more synonymous with cloud services. I also know that it's been pushing Watson capabilities for a range of sectors, from retail to healthcare.  
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