IBM (International Business Machines) ties up with the Intellect Design Arena Limited, a full spectrum banking and insurance products company, has launched iTurmeric FinCloud platform through IBM public cloud targeting financial institutions which are looking to switch to the latest tools and technologies.
i.About i Turmeric FinCloud platform: The cloud-ready, API(Application Programming Interface)- first, microservices-based platform will help new digital banks systems to be tested and run in isolation or in parallel with core legacy systems, which can, in turn, continue to run without interruption or compromise.
ii.Arun Jain, Chairman and Managing Director (CMD), of Intellect Design Arena Limited, added that most of the banks across the world are still saddled with legacy platforms which are hampering them from participating in the experience economy.
iii.i Turmeric FinCloud already has retail banking, lending, origination, and corporate banking API and the company will continue to add relevant APIs. The platform provides a unique way of modernising without the risk of rip and replacement using Turmeric tools.
iv.IBM is one of the first independent software vendors and Software-as-a-Service (SaaS) providers to on-board Intellect’s offerings to the IBM financial services-ready public cloud.
v.Shanker Ramamurthy, general manager (GM), Strategy and Market Development: Global Industries, Platforms & Blockchain, IBM, also mentioned that by bringing Intellect’s iTurmeric FinCloud platform to the financial services-ready public cloud, we’re helping drive innovation throughout the industry. As Covid-19 had accelerated the process of digital transformation in the last few months, compared to the previous years.
Headquarters– Armonk, New York, United States (US).
President– Jim Whitehurst.
Chief Executive Officers (CEO)– Arvind Krishna.