Blockchain
Banco Sabadell Signs Ten-Year Agreement with IBM Services, Aiming to Provide Innovative Digital Client Experiences Through Hybrid Cloud Strategy
Today, Banco Sabadell, Spain’s fourth largest private banking group, and IBM Services (NYSE: IBM) announced the signing of a ten-year services agreement designed to help the bank boost digitization and support the strategic evolution of its business model with IBM cloud capabilities.
The financial services industry can face intense challenges related to regulatory compliance, the emergence of new business models and the demand for the digitalization of financial consumption. With IBM, Banco Sabadell plans to transform its IT infrastructure to a modern technology platform that integrates all its data and applications enabling a broader client-centric view.
The new agreement extends IBM’s relationship with Banco Sabadell and is planned to make it possible to leverage IBM cloud capabilities, helping drive modernization of the bank’s IT environment. IBM Services will help Banco Sabadell migrate its existing applications to a hybrid cloud environment, meeting required cybersecurity standards, to help it meet continuous regulatory changes.
The collaboration is intended to simplify the bank’s dispersed technological infrastructure so that it can move and manage data, services and workflows across multiple clouds to allow it to continue to offer its global clients its products and services in a manner that is focused on speed fast, security and compliance.
“This agreement with IBM helps enable us to advance into the modernization and transformation of our technology infrastructure and in the simplification of our operational model,” said Miguel Montes, Banco Sabadell Chief Operations and People Officer. “With this, we are not only continuing to increase our resilience, security and scalability capabilities, but we can also adopt key elements of the new technology paradigm like cloud, the intense use of data and artificial intelligence.”
Red Hat OpenShift technology, together with IBM Services, will also support Sabadell in managing a hybrid cloud environment to deploy on-container architecture, new cloud-native applications and modernize current ones designed for more flexibility and speed to help drive a more agile customer-oriented innovation.
This solution provides capabilities such as scalability to help face the continuous increase in demand for resiliency and security provided by cloud solutions, and speed to launch new digital projects to overcome the traditional friction between applications and infrastructure.
“We are excited to collaborate with Banco Sabadell to help advance its cloud journey that can bring innovation to meet the everchanging demands of its clients and help address the complex security and regulatory requirements of today’s financial industry,” said Juan Zufiria, Senior Vice President of IBM Global Technology Services. “An open hybrid cloud platform, built and managed with IBM Services’ industry experience, can help lay the foundation for financial services providers to respond to the challenges of the industry and position them to securely integrate with IBM financial services-ready public cloud capabilities in the future.”
In parallel TSB, the United Kingdom affiliate of Banco Sabadell, signed a contract where IBM will manage the bank’s technology in the UK.
IBM and Banco Sabadell signed this transaction in IBM’s fourth quarter of 2019.
SOURCE IBM
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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