TORONTO, Oct. 16, 2017
/PRNewswire/ -- SIBOS -- IBM (NYSE: IBM) today
announced it is teaming up with Toronto-based FinTech company Dream Payments
to bring new revenue generating mobile payment offerings to
financial institutions and merchants in the United States via the IBM Cloud.
Historically, financial institutions are slow to bring new
products to market due to culture, legacy systems and heavy
regulations within the payments industry. To stay competitive, they
must be able to rapidly implement new mobile and digital
payment solutions for their small business customers. Dream enables
powerful partnering options by connecting banks, acquirers,
retailers and value-added apps to deliver services that meet the
demands of today's mobile merchants.
IBM and Dream Payments are rolling out Dream Payments Cloud to
U.S. financial institutions --a scalable platform that enables
financial institutions to provide business customers with secure
mobile and digital payment services that help them go to market
faster and improve customer experiences. With this platform, which
is delivered via the IBM Cloud, financial institutions can avoid
investing in the expensive and lengthy IT projects required to
build these services in-house. For example, financial institutions
can leverage Dream Payments' offering to rapidly launch solutions
that work with emerging payment technologies like mobile wallets,
CHIP cards and contactless payments.
Dream Payments turned to IBM because they needed a partner that
could help them rapidly deploy cloud infrastructure while
maintaining a high level of control and security. With IBM Cloud
for VMware solutions, Dream Payments accelerated its cloud
infrastructure deployment from three months to just days, while
avoiding the cost and complexity of procuring, provisioning and
managing new data centers. This deployment also enables Dream
Payments to provide financial institutions with the level of
control they need to maintain Payment Card Industry (PCI)
certifications in the cloud.
"The combination of IBM's banking and financial services
expertise along with IBM Cloud has allowed Dream Payments to build
and scale its cloud infrastructure, right down to bare metal
hardware access, to maintain bank grade security, PCI
compliance and data sovereignty," said Chad
Whittaker, CIO, Dream Payments.
Dream Payments also plans to leverage IBM Managed
Security Services including IBM QRadar on Cloud, a network security
intelligence and analytics offering to help detect and take action
against cybersecurity attacks and network breaches and improve
their response to incidents.
"Financial service leaders and FinTechs recognize the need for
digital reinvention to compete and win in the banking market," said
Frank Attaie, Vice President of
Financial Services, IBM Canada. "IBM provides clients the global
cloud footprint and unified architecture they need to navigate
regulatory and compliance demands while improving the customer
experience."
IBM Cloud offers a growing catalogue of services including AI,
Internet of Things, analytics, blockchain, serverless and more.
With nearly 60 cloud data centres in 19 countries worldwide –
including locations in Toronto, ON
and Montreal, QC – IBM is helping
companies securely manage and gain insight from their data when and
where they need.
About Dream Payments
Dream Payments is an award winning payments cloud that powers
mobile commerce and payment services across mobile decides and the
IoT. Leading financial institutions and merchant acquirers use
Dream's Payment-as-a-Service (PaaS) platform to provide mobile
point-of-sale (POS) applications, next-generation payment
terminals, and value-added services to businesses of all sizes.
Dream is headquartered in Toronto,
Ontario and has operations in Stamford, Connecticut. For more information
about Dream Payments, please visit dreampayments.com.
For more information about IBM Cloud solutions for financial
services, please
visit https://www.ibm.com/cloud-computing/solutions/banking/.
For more information about IBM Security, please
visit https://www-03.ibm.com/security/ca-en/.
Media contacts
For
IBM:
Lorianne Mulé
IBM Public Relations
Direct: (905) 316 – 2197
lorianne@ca.ibm.com
For Dream Payments:
Christian
Ali
Chief Marketing Officer
Direct: 416-588-7999
christian.ali@dreampayments.com
View original content with
multimedia:http://www.prnewswire.com/news-releases/ibm-and-dream-payments-expand-payment-services-on-the-cloud-to-us-financial-institutions-300536928.html
SOURCE IBM