SAP and IBM are coming in sync together as a backbone to financial institutions’ to improve cloud adoptions and modernize operations.

SAP plans to onboard two of its finances and data management solutions to IBM Cloud for Financial Services. The partnership aims to help the companies address the finance industry’s “stringent compliance, security, and resiliency requirements” while giving much heed to “business transformation.”

IBM Cloud for Financial Services provides a secured, purpose-built environment for financial services institutions to go on in the growing ecosystem of more than 100 fintechs and partners.

The cloud platform is designed to boost customers’ business transformation while dealing with risk in the supply chain and opening new revenue opportunities.

SAP aims to join IBM’s ecosystem to render finance risk management, operational management, and expenses management offerings at the IBM Cloud for Financial Services.

What leaders’ have to say

“The rapid transition of regulated industries, such as financial services, toward the cloud makes it necessary to address new operational and technology challenges,” said Robert Cummings, Global Head of SAP Financial Services Sector.

“As we continue to add partners, such as SAP, to our growing ecosystem, we’re one step closer to driving a true change in cloud adoption for the industry to ultimately help reduce risk throughout the supply chain,” said Joel Spieth, General Manager, IBM Cloud for Industries.

These two companies have done wonders together. In the past, they have helped hundreds of companies digitize their operations using an open, hybrid cloud approach.