IBM lures banks’ critical workloads to financial cloud as ‘threat’ from big tech looms large

Having signed a trio of new banks to its financial services-specific cloud, the computing giant is betting on cutting-edge technologies like confidential computing to entice banks threatened by big tech firms.


The biggest threat facing the investment banking industry today isn’t coming from regulators, other types of financial firms, or activist investor movements, but rather from its suppliers—big tech and fintech companies, according to Likhit Wagle, general manager of global banking and financial markets at IBM. And to fend off that threat, big banks will need to behave more like big tech, and in particular increase their agility by making more use of public cloud resources.

“Those businesses are

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The IMD Wrap: Will banks spend more on AI than on market data?

As spend on generative AI tools exceeds previous expectations, Max showcases one new tool harnessing AI to help risk and portfolio managers better understand data about their investments—while leaving them always in control of any resulting decisions.

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