ARMONK, N.Y. and WALLDORF,
Germany, July 28, 2021 /CNW/ - IBM
(NYSE: IBM) and SAP SE (NYSE: SAP) today announced that
SAP intends to onboard two of its finance and data management
solutions to IBM Cloud for Financial Services to help accelerate
IBM cloud adoption within the financial services industry. The
collaboration will be designed to help the companies address
the industry's stringent compliance, security and resiliency
requirements, while supporting business transformation and
innovation for financial services institutions.
As banks and insurers balance the need to deliver innovative
services and meeting the industry's strict security and compliance
requirements, hybrid cloud environments have become increasingly
important. To fuel industry-wide innovation, IBM introduced the IBM
Cloud for Financial Services with built-in security and compliance
controls that help companies reduce risk and regulatory barriers
impeding IT landscape modernization, transformation, and
innovation.
IBM Cloud for Financial Services offers a highly
secured, purpose-built environment for financial services
institutions to transact with their technology partners and
FinTechs. By onboarding to the IBM Cloud for Financial Services,
clients can adopt onboarded SAP offerings, while addressing their
regulatory and compliance standards. Supported by a growing
ecosystem of more than 100 partners and FinTechs, the cloud
platform is designed to speed customers' business
transformations by addressing risk in the supply
chain for financial institutions and unlocking new
revenue opportunities.
In the context of their ongoing partnership, IBM and
SAP have helped hundreds of companies digitize their
operations using an open, hybrid cloud approach. SAP intends
to join IBM's ecosystem to deliver finance risk, operations, and
total spend management offerings on the IBM Cloud for Financial
Services.
"The rapid transition of regulated industries, such as financial
services, toward the cloud makes it necessary to address new
operational and technology challenges," said Bob Cummings, Head of SAP Financial Services
Sector. "The combination of IBM Cloud and SAP's capabilities can
help banks and insurers around the world to accelerate their
digitalization journey and scale their business globally."
"As we continue to add partners, such as SAP, to our growing
ecosystem, we're one step closer to driving a true change in cloud
adoption for the industry to ultimately help reduce risk throughout
the supply chain," said Joel Spieth,
General Manager, IBM Cloud for Industries. "We're helping financial
institutions modernize with SAP solutions on IBM Cloud for
Financial Services, driving innovation, and creating operational
efficiencies."
When onboarded, SAP's planned offerings on the IBM Cloud for
Financial Services will provide financial services institutions,
their partners and FinTechs with the following:
- SAP's intelligent suite, including SAP S/4HANA® solutions: With
its intelligent enterprise framework, SAP provides integrated
applications, intelligent technologies, and a digital platform
designed to enable banks to better serve current customers.
- SAP's solutions for strategic data management, including SAP®
Adaptive Server Enterprise, and SAP IQ software: Combining the
strength of in-memory technology with these solutions, SAP offers a
robust data platform to achieve business agility.
SAP and IBM together have hundreds of clients and more than
5,500 individual products. The companies are focused on helping
enterprises modernize their businesses and making the most of
cutting-edge technologies.
For more information on IBM Cloud for Financial Services,
visit www.ibm.com/cloud/financial-services
Statements regarding IBM's future direction and intent are
subject to change or withdraw without notice and represent goals
and objectives only.
About SAP
SAP's strategy is to help every business run
as an intelligent enterprise. As a market leader in enterprise
application software, we help companies of all sizes and in all
industries run at their best: 77% of the world's transaction
revenue touches an SAP® system. Our machine learning, Internet of
Things (IoT), and advanced analytics technologies help turn
customers' businesses into intelligent enterprises. SAP helps give
people and organizations deep business insight and fosters
collaboration that helps them stay ahead of their competition. We
simplify technology for companies so they can consume our software
the way they want – without disruption. Our end-to-end suite of
applications and services enables business and public customers
across 25 industries globally to operate profitably, adapt
continuously, and make a difference. With a global network of
customers, partners, employees, and thought leaders, SAP helps the
world run better and improve people's lives. For more information,
visit www.sap.com.
Any statements in this release that are not historical facts are
forward-looking statements as defined in the U.S. Private
Securities Litigation Reform Act of 1995. All forward-looking
statements are subject to various risks and uncertainties described
in SAP's filings with the U.S. Securities and Exchange Commission
("SEC), including its most recent annual report on Form 20-F, that
could cause actual results to differ materially from expectations.
SAP cautions readers not to place undue reliance on these
forward-looking statements which SAP has no obligation to update
and which speak only as of their dates. All other product and
service names mentioned are the trademarks of their respective
companies.
SAP and other SAP products and services mentioned herein as well
as their respective logos are trademarks or registered trademarks
of SAP SE in Germany and other
countries. Please see https://www.sap.com/copyright for additional
trademark information and notices.
Media Contacts:
Stacy Ries
SAP
+1 484 619 0411
stacy.ries@sap.com
Suzanne Cross
IBM Communications
Suzanne.cross@us.ibm.com
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SOURCE IBM