Finzsoft Solutions Limited (NZX:FIN) and IBM (NYSE: IBM) today announced a five-year cloud agreement to move Finzsoft's core and vertical banking applications, including its Sovereign application, to the IBM Cloud.
The agreement to host Finzsoft applications in the IBM Cloud at IBM cloud centers in Auckland and Wellington will enable Finzsoft to offer solutions-as-a-service to clients as the company expands across the Asia Pacific region.
Finzsoft provides mission-critical financial software and solutions to banks and financial institutions. Moving to a cloud-based offering will speed up the deployment of its solutions, reduce costs and provide security and resiliency to its customers. The cloud-based model enables Finzsoft to meet the growing demands amongst its client base for operating models that deliver agility, availability and stability.
Under the new agreement, Finzsoft will leverage IBM Cloud Managed Services for New Zealand as well as infrastructure from SoftLayer, an IBM company, enabling Finzsoft to take advantage of IBM's global network of enterprise-grade cloud centers in every major market and allowing for data sovereignty and other requirements to be met as they move to the cloud.
"IBM's reputation as a global technology and innovation leader was key to our decision to enter into this agreement. Working with IBM will give our clients confidence that we are offering our solutions through a robust and secure cloud environment, something which is extremely important to tier one banks and finance companies. Having the IBM global brand behind us will strengthen our business proposals to our clients and enable a continued focus on the development and delivery of transformational and scalable solutions for our clients," said Andrew Holliday, Managing Director, Finzsoft.
"The banking sector is rapidly transforming. The focus on digital, mobility, online banking and granular customer data means our customers want greater flexibility and more personalized and integrated solutions. This agile, on-demand and real time access to solutions as-a-service through the IBM Cloud will also help transform how our customers approach core banking refreshes and upgrades,” added Andrew Holliday.
"The rapid transformation of the banking industry is being driven strongly by digital technologies. Finzsoft chose IBM for very clear reasons - security, enterprise-grade capabilities, global network and our ability to be a transformation partner. Working with Finzsoft to deliver these leading applications as-a-service demonstrates that IBM is a leading provider of cloud services with a compelling value proposition to enterprises," said Robert Varker, Business Unit Executive, IBM Integrated Technology Services.