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IBM and Bank of America Collaborating to Build a Fintech Public Cloud

November 13, 2019 / Christine Hall

IBM seems to be playing to its strong suit with the announcement that it has been collaborating with Bank of America to create a cloud dedicated to meeting the special needs of financial services institutions and their suppliers. According to Big Blue, the "financial services-ready" public cloud, which it says is the first of its kind, has been designed to help address the requirements of financial services institutions for regulatory compliance, security, and resiliency.Although IBM's cloud seems to be stuck in a third-place tie with Google for market share, its position is buoyed by the fact it doesn't compete directly with the much larger full-service market leaders Amazon Web Services and Microsoft Azure  but has been concentrating on AI, with Watson, and the burgeoning hybrid and multi-cloud market