By: Michele Richens
Banks are increasingly under pressure to innovate and operate in the most efficient and cost effective ways possible to keep up with customer demands while weathering market fluctuations. To find and exploit efficiencies while navigating complex regulations, security requirements, and sustainability metrics, we have observed that banks are re-defining their IT strategies with a focus on cloud-native infrastructure and container-based architectures leveraging Red Hat OpenShift. This transition to hybrid cloud and containers can position banks to realize financial benefits from unlocked operational efficiencies while helping to retain and grow a vibrant customer base.
Infosys Finacle, an industry leader in the digital banking space, supports its clients in their shift to cloud-native architectures by offering leading-edge, cloud-native, composable digital banking solutions that can help financial institutions of all sizes drive transformation at speed and scale. Finacle on Red Hat OpenShift is a leading choice for banks across several regions. With Finacle solutions on Red Hat OpenShift on IBM Power, IBM and Finacle are expanding on our 20+ year collaboration. Clients can soon leverage solutions from the Finacle Digital Banking Suite using Red Hat OpenShift on IBM Power to meet evolving customer demands, regulatory changes, and market dynamics. In addition, customers can now upgrade their Finacle Core Banking to v11 on AIX, enabling them to embrace modularization and putting them in position to modernize to a cloud-native solution on their existing server platform when they are ready to do so.
“By leveraging the power of the hybrid cloud, Finacle’s Digital Banking suite provides banks the agility they need to meet evolving customer demands, regulatory changes, and market dynamics,” said K R Venkatraman, Vice President, Head of Product Architecture, Infosys Finacle. “Our solution with IBM Power and Red Hat OpenShift will help enable us to deliver on our promise of unlocking superior value with modern technologies to drive deeper customer engagements and innovation-led growth."
The shift to a hybrid cloud architecture can enable banks to deliver personalized products and experiences to customers quickly, driving increased revenue while decreasing operating costs. IBM Power aims to simplify the modernization journey for Finacle customers. Power has been trusted by Finacle customers for their mission-critical banking workloads for over 20 years. These banks rely on the reliability, security, scalability, and performance that IBM Power offers. As they begin to adopt Finacle’s containerized solutions, banks do not need to replace their infrastructure as they already have a great foundation for hybrid cloud in the Power architecture, the hardware that customers know and trust.
IBM Power servers are designed for clients seeking the flexibility to drive growth, increase profitability, and adhere to regulatory compliance requirements. In collaboration with Red Hat, customers can use Red Hat OpenShift on IBM Power to modernize and implement new applications on an established platform for mission-critical banking solutions. The IBM Power and Red Hat combination provides a strong foundation for open hybrid cloud and an excellent platform for Finacle, enabling clients to streamline processes, and contributing to faster application development cycles and better customer experiences. Leveraging flexible on-demand capacity, banks are able to scale quickly to growth and peaks or valleys in demand paying for what they need, when they need it. This also enables banks to support a growing customer base without needing to expand their IT footprint to do so. With the flexible hybrid cloud architecture of IBM Power, clients can implement digital banking solutions on Red Hat OpenShift, leveraging existing infrastructure capacity to surround the bank’s core. By integrating IBM solutions like Turbonomic, clients can optimize infrastructure capacity with AI driven analysis to assist in reducing IT resources and spending.
For more information on modernizing with IBM Power https://www.ibm.com/power/modernize . For questions or to set up a briefing on this solution reach out to Michele Richens (mrichens@us.ibm.com).