#Technology

IBM and Lotte Card transform finance with hybrid cloud

IBM has announced its partnership with Korean credit card company Lotte Card to transformation accounting services via hybrid cloud solutions.

|Jun 5|magazine7 min read

Lotte, whose portfolio of serviced clients includes retailers, department stores, cinemas and hypermarkets, has taken the step of migrating its core, mission-critical financial services to a hybrid cloud environment. 

By doing so, the company hopes to achieve greater visibility, scalability, security and speed whilst simultaneously streamlining its IT infrastructure. Subsequently, IBM and its recent acquisition Red Hat will be leveraging their expertise to engineer a comprehensive solution.

In its press release, IBM commented, “With several economic, demographic, regulatory and technological factors in play, the Cards & Payments industry is witnessing rapid innovation across the value chain. Additionally, today's tech-savvy consumers are using various payment options like simple payment service.”

Mastering hybrid cloud

IBM and Red Hat have rapidly distinguished themselves as a formidable duo in the creation of exceptional open hybrid cloud solutions across several sectors. 

With the cloud developed for it, Lotte Card hopes to accelerate the roll-out of new products and technologies in support of its customer service. These include an expansion of its LIFE application which provides users with a complete overview of the company’s services in one platform.

Furthermore, an open hybrid cloud will enable the company to react faster to changing market conditions and act accordingly, thus ensuring a greater level of customer satisfaction.

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Helping global finance

Its partnership with Lotte Card forms part of IBM’s far-reaching consideration of the financial services sector and opportunities for technological development inherent. 

"We look forward to bringing the power of IBM's hybrid cloud capabilities and financial services industry experience to Lotte Card's mission-critical infrastructure," stated Archana Vemulapalli, GM IS Offering Strategy, Management and Development, IBM Services. 

"IBM is intently focused on working with our financial services clients all over the world to help them address critical requirements and enable industry innovation so they can service the public, while addressing the industry standards for regulatory compliance, security and resiliency."

Whilst IBM’s contributions are unspecified, the press release does detail that Red Hat’s OpenShift will be employed in the project.

Currently used by more than 1,700 clients, OpenShift offers a variety of cluster services, application services, developer services and much more. 

The offering’s latest incarnation - OpenShift 4 - was recently announced and promises to provide businesses with a highly secure option for scaling enterprise ideas.

[Image courtesy of IBM]

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