Temenos Transact on the IBM Public Cloud
I’m very excited to have been part of the delivery of a major new project between IBM and Temenos focused on optimizing the Temenos Transact core banking application running on the IBM Public Cloud. From the start of this effort we focused in on addressing specific and current Banking Client Pain Points and then we built and now delivered an exciting new differentiated solution that we anticipate will benefit our global clients.
First, we realize that Banks are moving to adopt Cloud Computing however our during our recent interactions with many Clients we consistently heard Top-of-mind concerns that included trust, security and managing IT integration.
Temenos Transact is Temenos’s world renowned Core Banking Platform, which is deployed Globally at over 1000 clients. To date, Temenos Transact has been available both on premise (for example, running on IBM LinuxONE, including on LinuxONE with Red Hat OpenShift) and in non-IBM Public Cloud environments.
The new Temenos Transact on the IBM Public Cloud is the result of a joint technical effort between IBM and Temenos that has been officially released by Temenos as Temenos Preferred Stack 14. Beyond supporting the option for running Transact on the IBM Public Cloud, what’s unique and valuable about this offering is that we jointly focused on addressing the previously mentioned existing Banking Client ‘Pain Points’ (trust, security and managing IT Integration) that were inhibiting the migration of critical Banking workloads to the Public Cloud. Examples of the unique attributes of Temenos Transact on the IBM Public Cloud include:
1. Support for running Transact on the IBM Kubernetes Service (IKS) or the Red Hat OpenShift Kubernetes Service (ROKS). While the IKS solution is targeted to clients interested in getting started at the lowest costs, the Red Hat OpenShift supported Transact solution is focused on security at every level of the container stack and throughout the application lifecycle. This includes long-term, enterprise support from one of the leading Kubernetes contributors and open source software companies (Red Hat).
2. Support for Transact running with the IBM Cloud® Hyper Protect Crypto Services, a key management service and cloud hardware security module (HSM) that supports industry standards such as PKCS #11. The same state of the art cryptographic technology relied upon by banks and financial services is now offered to cloud users via IBM Cloud. Only customers (not Cloud Admins) have access to Crypto Keys.
3. Transact support for IBM Cloud Hyper Protect Databases, which offers 100% tamper-proof, enterprise cloud database environments with high availability for workloads with sensitive data. Hyper Protect Databases are built on LinuxONE technology, which provides built-in data encryption along with excellent vertical scalability and performance. These Databases protect against threats of data breaches and data manipulation by privileged users and provides a high level of data confidentiality for data owners.
4. A new IBM GBS Temenos Practice, which has been fully enabled on the new Temenos IBM Public Cloud offerings I have been describing. The new IBM GBS Temenos practice will help provide the Temenos specific skills and also a key set of Integration capabilities needed by Banks as they transition to the newer Cloud and micro-services delivery models of the future.
IBM has a wide array of capabilities in Banking and Financial Markets, and with this new and important offering of Temenos Transact on the IBM Public Cloud we have continued the focus on delivering real and timely value to our Banking Clients.
Please reach out to me, Chuck Calio (ccalio@us.ibm.com), if you’d like to learn more.
