Infosys, IBM partner to cater to financial services players

Infosys Ltd’s digital banking solution suite Finacle will now be available on IBM’s containerization platform- Red Hat OpenShift and IBM Cloud for financial services. 

Containerization can be defined as a virtualised operating system in which applications can run in isolated user spaces known as containers. 

On the other hand, the IBM Cloud for financial services is a platform aimed at financial institutions to host applications and workloads in the public cloud.  

IBM Cloud for financial services has currently partnered with over 100 independent software vendors, SaaS providers, global system integrations (GSI) and financial technology companies. 

“Together with Infosys Cobalt - a robust set of cloud services, solutions, and platforms, and our collaboration with Red Hat and IBM, we are helping customers realise the benefits of open hybrid cloud for the next generation of financial services innovation,” said Venkatramana Gosavi, Senior Vice President and Global Head of Sales and Alliances, Infosys Finacle.   

Infosys Cobalt is the Bengaluru-based IT company’s broad term to encompass all of their cloud offerings to help companies move to the cloud.  

Infosys said that the cobalt platform houses about 35,000 cloud assets and more than 300 industry cloud solution blueprints. 

Some of the benefits of the new offering includes a reduction in the time for customer onboarding and solutions going live; ability to scale storage on-demand, hence improving efficiency; automation that can remove mundane tasks from developers so they can focus on completing application updates and enhanced security features for cloud environments. 

Finacle is originally the flagship banking IT solution of EdgeVerve Systems, an automation and AI-based solution provider, acquired by Infosys in February 2014.