IBM has announced that several global banks, including BNP Paribas, one of Europe’s largest banks, will join a growing ecosystem of financial institutions and more than 30 new technology providers will be adopting IBM Cloud for Financial Services.
BNP Paribas has committed to joining the IBM Cloud for Financial Services as an anchor client in Europe to support its first dedicated cloud in Europe to be GDPR compliant, acknowledging that a public cloud informed by IBM’s deep financial industry expertise, controls framework and industry-leading data-protection capabilities, meets its exacting standards. BNP Paribas will utilise a dedicated cloud, developed and managed by IBM, that will leverage IBM public cloud technologies, including Keep Your Own Key (KYOK) encryption capabilities. BNP Paribas could plan to onboard additional banking partners to the ecosystem across Europe in the future.
“As we continue to expand our collaboration with IBM, we’re driving innovation in the financial services industry and are able to partner with a growing ecosystem of technology providers, from small start-ups to leaders in the industry. That’s an important step forward for BNP Paribas Group to accelerate its transformation journey and be compliant with European regulations,” said Bernard Gavgani, CIO, BNP Paribas. “IBM Cloud for Financial Services helps us to further our transformation journey to the cloud and migrate mission critical workloads with confidence knowing that we can meet the regulatory standards established for the industry.”
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