NGDATA Uses IBM Cloud for Financial Services to Help Customers Accelerate Transactions with Financial Institutions in a Highly-Secured Environment
This partnership solves a challenge many clients deal with. Cloud compliance is a big undertaking, and hosting our IEP on the IBM Cloud for Financial Services speeds up the adoption of our platform.”
— Jens Ponnet, Chief Growth Officer NGDATA
NEW YORK CITY, NEW YORK, USA, June 16, 2021 /EINPresswire.com/ — NGDATA, a customer data platform that drives one-to-one customer engagement, today announced it has joined IBM’s (NYSE: IBM) growing ecosystem of more than 100 Global Systems Integrators (GSIs), Independent Software Vendors (ISVs), SaaS providers, and FinTechs supporting the IBM Cloud for Financial Services. The IBM Cloud for Financial Services Framework is designed to address risk in the digital supply chain through a common set of security controls that are adhered to by the entire ecosystem.
A growing portion of the $1 trillion hybrid cloud market opportunity is comprised of the financial markets industry, which is expected to increase nearly twenty percent by 2024. Key findings in a recent IBM internal analysis suggests that Cloud is expected to account for about 60% of that future market opportunity as financial institutions are accelerating innovation to meet heightened customer expectations, deliver consistent services in the face of challenges like the global pandemic, and navigate the ever-complex regulatory environment.
NGDATA offers an Intelligent Engagement Platform (IEP), a pre-packaged solution tailored to financial services, that builds rich customer data profiles to create personalized customer experiences via real-time interaction management. The IEP stores first-party data and insights in a highly secured environment and adheres to compliance regulations by leveraging the IBM Cloud for Financial Services to help enable faster implementation and a shorter time to value.
The industry’s first financial services-ready cloud, the IBM Cloud for Financial Services uses IBM’s fourth generation confidential computing capabilities and “Keep Your Own Key” encryption delivered via IBM Hyper Protect to help partners and their customers retain control of their data and transact with financial institutions in a secure environment. The IBM Cloud for Financial Services Framework is designed to reduce third- and fourth-party risk in the digital supply chain through a common set of controls and processes that are adhered to by the entire ecosystem. The built-in controls are engineered to help customers accelerate innovation, unlock new revenue opportunities, and decrease the cost of compliance.
“We are excited to collaborate on the IBM Cloud for Financial Services to help solve the regulatory pain points we encounter with current and future financial services customers,” said Jens Ponnet, Chief Growth Officer, NGDATA. “Maintaining cloud compliance and security is crucial for every bank that wants to migrate mission-critical workloads to the cloud. Hosting NGDATA’s IEP on the IBM Cloud for Financial Services speeds adoption of our platform.”
“We designed the IBM Cloud for Financial Services with a control framework to help financial institutions accelerate hybrid cloud adoption and drive revenue growth while addressing their need for a secure and compliant partner ecosystem,” said Brendan Kinkade, Vice President, Technology and Hybrid Cloud Partnerships, IBM. “By collaborating on the IBM Cloud for Financial Services, partners like NGDATA can transact with financial institutions on their journey to modernization.”
NGDATA is part of IBM’s partner ecosystem collaborating on the IBM Cloud for Financial Services to help partners accelerate transactions with financial services institutions. The IBM Cloud for Financial Services is designed to help financial services institutions as they address their requirements for their regulatory compliance, security, and resiliency. IBM’s partner ecosystem is fueling its hybrid cloud platform by accelerating cloud adoption to drive client digital transformation.
 IBM Global Market View, Banking and Financial Markets Industry Markets Opportunity, March 2021.
Note: This report is based on internal IBM analysis and is not meant to be a statement of direction by IBM nor is IBM committing to any particular technology or solution.
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