IBM has been making waves with banks in recent months as they make a push to get large banks to invest in their financial services cloud product; American Banker sat down with BNP’s Chief Information Officer, Bernard Gavgani to discuss how the bank is using IBM’s cloud platform; the bank is using IBM’s public cloud but it operates in-house only, this allows the bank to better protect customer information and be GDPR compliant; the three main reasons they went with IBM were the ability to reverse a cloud computing instance, innovation and cybersecurity; IBM’s acquisition of Red Hat was also a big factor for BNP, IBM obtained open source cloud container technology that Gavgani considers to be the best out there; “If there’s someone that says that their journey to the cloud is finished, I don’t believe him,” Gavgani said to American Banker. “This will be a journey for a long time. I would say that maybe 60% of our workload will move to cloud and 40% will stay in what I call stand-alone systems,” Gavgani said. American Banker.
Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.