Finanz Informatik and IBM extend and expand collaboration

IBM supports Finanz Informatik in its strategic initiatives with AI, automation, and hybrid cloud technology, /PRNewswire/ -- Finanz Informatik (FI) – the central IT service provider and digitalization partner of the Sparkassen-Finanzgruppe – and IBM (NYSE: IBM) have extended their successful collaboration with the signing of a new contract. Finanz Informatik Finanz Informatik is a central IT service provider for more than 340 savings banks and other network partners, providing efficient, secure, and regulatory-compliant solutions, which are supplied through FI's own data centers. To further improve the already strong position of its banking customers in the digital world, Finanz Informatik relies on the latest IBM technologies for the continued modernization of its software and hardware infrastructure. With the latest generation of computer systems, FI is expanding its capabilities to leverage the advantages and the full potential of cloud computing, automation, and AI for its data center operations, while ensuring platform independence. The new contract with IBM enables further capacity growth for the next few years and will strengthen cyber resilience in compliance with the EU Digital Operational Resilience Act (DORA). The contract includes the use of state-of-the-art IBM mainframe, Power, and storage systems as well as modern system software components with AI support from the watsonx product portfolio. This allows cloud-enabled applications to be automatically distributed and managed across various computer systems running in the company's own data center. The aim is to support Finanz Informatik initiatives and projects that provide Sparkassen-Finanzgruppe with a host of strategic advantages: Accelerated digital transformation: By building on technologies such as the Red Hat OpenShift Container Platform as a consistent hybrid cloud foundation and IBM AIOps solutions, Finanz Informatik will continue to modernize its core IT systems and applications, enabling more efficient operations and improve service delivery across the network of companies. Improved cyber resilience: With proven IBM solutions, Sparkassen-Finanzgruppe can benefit from robust backup and recovery capabilities that help protect critical financial data. This makes Finanz Informatik a pioneer in the use of such innovative and resilient solutions in Europe. Innovation powered by AI: By making the most of IBM's AI offerings based on the watsonx portfolio, Finanz Informatik will deliver privacy-focused AI solutions for Sparkassen-Finanzgruppe that enable real-time insights, automation, and security services. Sustainability and future-proofing: The agreement underscores the commitment to sustainability and helps ensure that the IT infrastructure continues to evolve in an environmentally friendly way with the energy-efficient IBM mainframe and high-end Power servers of the latest and upcoming technology generations. "Our contract with IBM is another important building block on our way to inspiring our customers with innovative solutions. Together, we will use the agreed contract components and new technologies to drive forward the digital transformation in the Sparkassen Finanzgruppe while at the same time securing growing capacity requirements in the future. Signing the contract with IBM provides us with long-term planning security and economic advantages in challenging times," emphasizes Martin Waldmann, Executive Director for Human Resources, Finance, Internal Services and Risk Management at Finanz Informatik."By signing the agreement, we are continuing a long-standing and successful cooperation. Our customers benefit from the continuous development of our IT platform, enabling us to guarantee a high level of security, availability, and cost-effectiveness. We preserve what makes us strong. On top of that and together with IBM, we're introducing new, innovative products for our OSPlus financial platform. Both companies – IBM and FI – will contribute their specific expertise and benefit from the intensive long-term cooperation. With this collaboration, we can deliver a good combination of proven systems and new technologies, strengthening the foundation of our platform independence, platform openness, and the sovereign operation of our applications," adds Detlev Klage, Deputy Chairman of the Executive Board of Finanz Informatik."Across the global financial services industry, we're seeing banks and other financial institutions increasingly embrace exponential technologies, including generative AI, to improve customer experience, increase operational efficiency, and mitigate risk to stay competitive," said Rob Thomas, Senior Vice President of Software and Chief Commercial Officer at IBM. "Access to a robust ecosystem of technology partners is critical as financial institutions look to boost productivity and increase value for their customers. With this new agreement, Finanz Informatik is creating a solid foundation for the Sparkassen-Finanzgruppe to continue to offer its stakeholders exceptional added value and innovation."About Finanz InformatikFinanz Informatik, based in Frankfurt am Main, is the digitalization partner of the Sparkassen-Finanzgruppe. The customers of the central IT service provider include 348 savings banks, six state banks, DekaBank, five state building societies, public insurers and other companies in the Sparkassen-Finanzgruppe and the wider financial sector. Its core banking solution OSPlus is the central digital platform of the Sparkassen-Finanzgruppe which is being continuously expanded. The saving banks and large parts of the network operate their sales and service channels through this digital platform to support around 50 million customers.Finanz Informatik offers a complete IT service – from application development to infrastructure and data center operations to consulting, training, and support. Subsidiaries and shareholdings such as Finanz Informatik Solutions Plus, Finanz Informatik Technologie Service, inasys, Star Finanz, Web Computing, and FINMAS complement the IT portfolio of Finanz Informatik with their wide range of services.Finanz Informatik provides services for around 114 million bank accounts; more than 205 billion technical transactions are being processed on computers and systems every year. The company employed around 4,650 people at the end of 2023. Together with its subsidiaries, FI generated sales of 2.44 billion euros in 2023.About IBMIBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs, and gain the competitive edge in their industries. Thousands of governments and corporate entities in critical infrastructure areas such as financial services, telecommunications, and healthcare rely on IBM's hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently, and securely. IBM's breakthrough innovations in AI, quantum computing, industry-specific cloud solutions, and consulting deliver open and flexible options to our clients. All of this is backed by IBM's long-standing commitment to trust, transparency, responsibility, inclusivity, and service. Visit ibm.com for more information.Media Contact:IBMMarie-Ann Maushart[email protected] SOURCE IBM WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

Finanz Informatik and IBM extend and expand collaboration

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