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
A recent warning from the FBI regarding a crypto money transmitter seems to be aimed at the Samourai Wallet. This development highlights the increasing scrutiny and regulatory challenges faced by privacy-focused cryptocurrency wallets and services.
The FBI warning raises concerns about the use of certain cryptocurrency wallets that prioritize user privacy and anonymity, potentially enabling illicit activities such as money laundering and terrorist financing. While the warning does not explicitly name any specific wallet or service, the language used suggests that the Samourai Wallet may be the target of the advisory.
Samourai Wallet is known for its focus on privacy and security features, including coin mixing and stealth addresses, which aim to enhance user privacy and protect against surveillance and tracking. However, these features have drawn the attention of law enforcement agencies and regulators, who are increasingly concerned about their potential misuse by criminals.
The FBI warning underscores the challenges faced by privacy-focused cryptocurrency wallets in navigating regulatory compliance and law enforcement scrutiny. While these wallets aim to empower users with greater control over their financial privacy, they must also address regulatory requirements and law enforcement concerns to avoid legal and reputational risks.
As the cryptocurrency industry continues to evolve, privacy-focused wallets like Samourai Wallet will need to strike a balance between privacy and compliance, ensuring that they can provide robust privacy features while also addressing regulatory concerns and maintaining transparency with authorities. This delicate balance is essential to foster trust and confidence among users and regulators alike, ultimately enabling the continued growth and adoption of privacy-enhancing technologies in the cryptocurrency space.
Source: cointelegraph.com
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Blockchain
Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets
Pantera Capital is reportedly planning to raise $1 billion for a new fund that offers exposure to various crypto assets, as reported by Blockchain.News. This ambitious fundraising initiative underscores Pantera’s continued confidence in the potential of the cryptocurrency market and its commitment to providing investors with diversified investment opportunities in the digital asset space.
The new fund from Pantera Capital aims to capitalize on the growing demand for exposure to cryptocurrencies and blockchain-based assets among institutional and retail investors. By offering a comprehensive portfolio of crypto assets, the fund seeks to provide investors with access to a wide range of investment opportunities, spanning cryptocurrencies, tokens, and other digital assets.
Pantera’s decision to raise $1 billion for the new fund reflects its optimistic outlook on the long-term growth prospects of the cryptocurrency market. With increasing mainstream adoption and institutional interest in cryptocurrencies, Pantera sees significant potential for value creation and capital appreciation in the digital asset space.
As one of the leading blockchain-focused investment firms, Pantera Capital is well-positioned to attract capital from investors seeking exposure to the cryptocurrency market. The firm’s track record of successful investments and its experienced team of investment professionals are likely to bolster investor confidence and support for the new fund.
Pantera Capital’s plans to raise $1 billion for its new fund underscore its commitment to driving innovation and growth in the cryptocurrency market. As the fund attracts capital and deploys it into promising investment opportunities, it is poised to play a key role in shaping the future of the digital asset ecosystem.
Source: blockchain.news
The post Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets appeared first on HIPTHER Alerts.
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