IBM Offers Blockchain, AI on Financial Services Cloud

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IBM Cloud for Financial Services offers cognitive, blockchain and analytics tools.

Financial services will now have improved developer resources available to them with the launch of the IBM Cloud for Financial Services. The new service offers the key technologies needed to build financial services apps with blockchain, analytics and cognitive computing.

IBM said its Cloud for Financial Services will also give developers the tools needed to ensure security, privacy, regulatory compliance and customer insights. This will help reduce time spend on development and testing, and simplify tasks like data integration and mapping, the company said.

“We have extensive expertise in financial services with 97 percent of the world’s largest banks relying on IBM. At the same time, IBM has become the leading AI platform for business,” said Bridget van Kralingen, senior vice president of industry platforms at IBM. “Our experience across financial services and in the commercial deployment of AI with enterprise and start up builders has informed these new tools. We’re excited to see how they put them to work to quickly create the latest solutions powered by cognitive computing and blockchain for everything from new payments directives support, and even regtech solutions.”

IBM Cloud for Financial Services and FinTech

IBM also announced that it developed the Singapore FinTech Hub with the cooperation of the central bank of Singapore, the Monetary Authority of Singapore (MAS). The hub is linked to the IBM Cloud for Financial Services and will serve as a stimulus to support Singapore area FinTechs by providing access to cognitive and other APIs and information about local policies and development. It will also showcase made-in-Singapore apps and services to the rest of the world.
IBM Cloud for Financial Services is currently in beta mode. The general availability timetable isn’t known at this time.

Related:

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Blockchain in finance: from concept proofs to production

IBM rolls out blockchain for supply chain

Sue Walsh

About Sue Walsh

Sue Walsh is News Writer for RTInsights, and a freelance writer and social media manager living in New York City. Her specialties include tech, security and e-commerce. You can follow her on Twitter at @girlfridaygeek.

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