IBM has grabbed a huge deal in Africa as banks are looking forward to shifting to digital

Tech giant IBM has recently made an announcement that it has won the hybrid cloud deal with one of the biggest banks in Africa. This also includes Attijariwafa Bank from Morocco and Nedbank from South Africa. The main motto of the deal is to pivot the banks to use the internet to store large amounts of data. As of now, IBM is working with more than six banks on the continent-spanning from Nigeria to Mozambique. The deal will make sure that the company’s data will be stored internally in a private cloud and public clouds.

Hillery Hunter, VP of IBM cloud, has stated that the technologies used by banks working with them in Africa are a part of the company’s hybrid cloud technology, and during the pandemic, the companies wanted to improve and open more mobile and digital banking because there were just a few retail locations. The landscape of financial services has become more competitive in Africa, with many MNCs and banks entering the segment. Business leaders in Africa are contending with other big names in the segment, which offer services that allow people to transfer cash from the simplest of phones. Mobile network companies have also joined the race by making the shift to digital.

 

 

FintechOS announces its launch into the US to drive digitalization

 

FintechOS, a global leader in providing market-leading financial services, recently has announced that it will be launching into the US market following its great success in Europe, Asia, and the Middle East. The company primarily is forging links with American credit unions and traditional banks to remove the common obstacles to digitalization that are currently hampering the market.

FintechOS aims to roll out intensive support and consultancy to over 15 new US bank and credit union partners by 2022. To meet the market needs of this ever-changing growth, the company will be hiring 100 new members made across the product management and marketing sectors. The firm is focusing on hiring more members by the end of 2022 so that the total global headcount will surpass 400.

The FintechOS ecosystem will allow its members, banks, credit unions, and insurers to go to market with digital products rapidly than the other banking ecosystem. The company will provide vital banking services that will meet both customer and operational efficiency demands at scale. With its innovative low-code and modular approach, which predominantly augments legacy systems, FintechOS will enable institutions to build, test, and scale cutting-edge digital products and services in just weeks rather than months.