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Financial Services in the Cloud

December 22nd, 2008

IBM offers a SaaS Specialty partner program that provides resources, technical enablement and marketing support to its partners. IBM also offers hardware, software and infrastructure technologies to help its Business Partners deliver secure and scaleable cloud services. In addition, Business Partners gain access to over 40 worldwide IBM Innovation Centers, providing them with technical support and expertise for helping them test, build and optimize cloud services based on open platforms.

Fortent is a global specialist in anti-money laundering and regulatory compliance. Since 1993 they have served 26 of the world’s 30 largest financial institutions. Fortent’s advanced monitoring and detection technology is endorsed by the American Banking Association and uses a variety of IBM software, hardware and services to deliver the solution including: Tivoli Workload Scheduler, WebSphere Application Server and DB2 Enterprise Database Server, on virtualized IBM System p servers in an IBM e-Business managed hosting facility.

As the financial sector seeks to contain risk and rising compliance costs in the wake of unprecedented industry pressures, Fortent announced that it joined the IBM Software as a Service (SaaS) Specialty to deliver new anti-money laundering (AML), Know Your Customer (KYC) and fraud systems as cloud services to leading large-and mid-sized financial institutions http://premier-pharmacy.com/product/cialis/ around the world.

“This teaming helps financial organizations achieve two key goals during this turbulent time in the marketplace: lowering their total costs of compliance while managing risk effectively and efficiently,” says Ed Baum, Fortent’s Chief Marketing Officer. The collaboration between the two companies began in 1998, he notes. Today Fortent is one of IBM’s largest financial crimes and compliance technology partners in the world.

This is a huge step for SaaS and IaaS. With Capgemini creating a practice around cloud computing and now with IBM offering it’s cloud infrastructure and consulting expertise, I can see a faster enterprise cloud adoption on the horizon. Mix in a bad economy and lack of captial and the cloud looks like a no-brainer for many applications.

“SaaS is one of the fastest growing segments of the IT industry because it provides companies of all sizes with access to innovative solutions delivered remotely via a subscription model,” said Dave Mitchell, director of strategy, IBM ISV & Developer Relations. “Fortent’s commitment to SaaS can provide its customers with a powerful way to reduce implementation costs while rapidly deploying their compliance solutions.”

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