IBM has acquired Promontory Financial Group, the consultancy founded by former Comptroller of the Currency Eugene Ludwig. Terms were not disclosed, but sources suggest IBM may have paid upwards of $300 million for the company. IBM said Promontory, which specializes in regulatory compliance consulting for financial institutions and employs 600Read More
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The financial industry has long discussed the benefits of adopting blockchain – or distributed ledgers – in its operations. Storing records in the cloud are still a major concern, as FIs try to figure out how to tap into the technology, but IBM’s announcement last week may go some way toward removingRead More
Have you seen the latest IBM Banking video? We’re guessing the answer is no, because the latest video only has 56 views (and we watched it a few times.) Here it is: The video is a pitch aimed at banks, and was released the day before Thanksgiving. The marketing video has strongRead More
It would be easy to dismiss the Apple-IBM partnership announced yesterday as an iPhone sales deal. In fact, the deal has significant implications for banking and banking technology. Hear that, SAP? At the heart of the deal is a new opportunity for Apple to sell to corporations through IBM, which owns corporateRead More
IBM executives Ken Muckenhaupt and Chris Spaight sat down to talk IT in financial services. Their ten-minute chat spans marketing, security and larger banks selling IT services to smaller banks. Cloud-computing, an IBM specialty, is called a game-changer, and, Muckenhaupt said, “The game change occurred this year.”
IBM is officially on the Bitcoin bandwagon. In an interview with Finextra that was published today, Richard G. Brown, executive architect for banking and financial markets at IBM, said crypto-currencies, bitcoin being the first of them, will “change the world, but not in the way that we think.” Brown saidRead More
Mike Hobday, banking practice leader, IBM Global Business Services, UK and Ireland, talks to Finextra about the challenges banks face when creating a customer-centric business model. While banks “have been talking about this for a long time,” Hobday argues that now is the time when banks will truly shift theirRead More
New analytics service that monitors transaction usage, as well as performance characteristics from users, devices, and hosts, and then pushes that data via the user interface and an API.
It’s well known that the mobile channel is effective for simple transactions, such as checking balances, making deposits, and even paying bills. But what about the transactions that typically take place in the branch, such as loan originations? Will processing the lengthy documents for such products ever work on aRead More
Societe Generale, a Paris, France-based bank, chose IBM Banking to help with its CVA (Credit Valuation Adjustment) Desk, a risk-management tool. In the face of stringent Basel III requirements, the process of managing default or counterparty risk is increasingly important and increasingly complex.