Sopra Banking Software and AWS expand work to bring banks to the cloud

Sopra Banking Software (SBS) has joined the Amazon Web Services (AWS) Independent Software Vendor (ISV) Accelerate Program, a co-sell program for AWS Partners who provide software solutions that run on or integrate with AWS.

The ISV program helps AWS Partners drive new business and accelerate sales cycles by directly connecting participating ISVs with the AWS sales organization. Since 2016, SBS has been working with AWS to power its digital, cloud-native banking platforms for...

Kyndryl unveils banking and financial industry services for Google Cloud customers

Kyndryl, a technology infrastructure services provider, has unveiled new services for financial services organisations seeking to use Google Cloud to safely store and protect their confidential and sensitive data.

Kyndryl’s new services are designed to enable a unified, scalable and security-rich data platform to support customers’ regulatory and compliance activities and requirements.

Kyndryl developed the new services on Google Cloud’s reference architecture for...

Google Cloud launches AI-powered anti-money laundering product

Google Cloud has unveiled its Anti Money Laundering AI (AML AI), an artificial intelligence (AI)-powered product designed to help global financial institutions more effectively and efficiently detect money laundering. 

Money laundering is a complex problem with a growing global impact. The amount of money laundered each year is estimated to be 2-5% of global GDP, or up to $2 trillion annually. Money laundering proceeds are connected to illegal activities, ranging from drug and...

Bank of England warns that banks are overly reliant on cloud

Bank of England, London

The Bank of England is calling for increased powers to oversee the banking and finance sector’s switch to cloud computing.

Its concerns stem from cloud adoption making systems more secretive and concentrating sensitive data in the hands of a select few tech giants like Amazon and Microsoft.

The central bank has said it will need “additional policy measures” to make sure it can assess the industry’s IT infrastructure, even when it’s run by third...