IBM shows off three new bank clients
IBM isn’t feeling blue as it has revealed three new clients running IBM Z and LinuxONE – Bank Zero, CaixaBank and KB Kookmin Bank.
According to IBM, this shows “significant” momentum in the banking space and commitment to the mainframe for core banking and digital transformation workloads.
“Significant” momentum in the banking space
Bank Zero is South Africa’s newest digital bank and has selected LinuxONE to provide an open-source based platform for its core banking operations. Last month it launched its first trial runs.
CaixaBank is using IBM Z for its technology infrastructure, to meet new data compliance regulations such as GDPR, and enable the bank’s future expansions and projects.
Caixa has invested in IBM z14 machines across hubs in São Paulo, Rio de Janeiro and in the Brazilian capital to address the growing volume of transactions being processed daily — which represents about 80% of all payments processed in Brazil.
KB Kookmin Bank in South Korea has chosen IBM Z for security, “performance and reliability” for its core banking workloads and as a pathway to a digital revamp including artificial intelligence (AI), blockchain and cloud.
This month, KB announced its new digital transformation initiative, “The K Project”, deployed on IBM z14, to improve its digital finance capability and non-face-to-face service channels.
IBM is in a good mood as it adds that in its recent Q2 earnings, IBM Z grew revenues by 112% year to year.
According to Big Blue, 92 of the world’s top 100 banks are running their core workloads on IBM Z – including 87% of all credit card transactions and 29 billion ATM transaction each year, and well over 30 billion transactions a day –10x the number of Google searches every day.
Looking ahead, IBM cites IDC research which shows that worldwide spending on information technology (IT) by financial services firms will be nearly $500 billion in 2021.
