IBM is developing an in-built security and compliance module for large banks and tech companies using IBM Cloud for Financial Services, giving customers a central hub to manage risks.

The dashboard, which spans infrastructure, platform, data and the developer workflow, allows clients to continuously monitor and enforce security and compliance procedures across multiple workloads to improve cloud security.

Launching in August, the IBM Cloud Security and Compliance Centre builds on the acquisition of Spanugo last month, with the company’s cloud cyber security posture management systems to be integrated into the new product.

The dashboard will take advantage of the acquisition with the capacity for customers to augment the developer workflow with automated security and compliance checks.

This news has come in addition to IBM expanding its reach and collaborations, welcoming BNP Paribas to its customer base of financial institutions, and growing its network of independent software vendors (ISVs) to more than 30 tech companies.

These are providers that have onboarded cloud services and systems to IBM Cloud for Financial Services. This is in addition to a major milestone in IBM’s partnership with Bank of America. 

This collaboration has allowed IBM to establish a set of cloud security and compliance control requirements as the basis for its policy framework. This feeds into the Policy Framework for Financial Services module that allows customers to host key applications and modules with confidence.

“With major financial institutions and technology partners joining our financial services cloud, IBM is establishing confidence within the industry and around the globe that the IBM public cloud, equipped with industry-leading encryption capabilities, is the enterprise cloud for all highly regulated industries, including financial services healthcare, telco, airlines and more,” said IBM Cloud senior vice president Howard Boville.

“IBM is creating a platform with the goal that financial services institutions can address their regulatory requirements, while creating a collaborative ecosystem that helps enable banks and their providers to confidently transact.”