Ericsson and IBM join forces to improve financial services

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Ericsson and IBM have thrown in their lot to develop and market a joint offering for financial services companies - for wealth management, account aggregation, mobile trading, and credit card and payment alerts.

The aim is to give financial institutions a standard, highly scalable and secure end-to-end infrastructure for implementing robust, high-volume services across multiple financial channels.

“The alliance between Ericsson and IBM is a powerful proposition. Given the depth of IBM’s relationships with the world’s leading banks and Ericsson’s pioneering work in the mobile commerce space, we anticipate great interest among the financial community,” said Remus Brett, manager, Financial Services Technology Practice, Datamonitor.

“We firmly believe next generation mobile services are going to be critical for banks in the next two to three years. This alliance should enable banks to position themselves favorably, regardless of future changes in networks, devices and payment technologies.”

“Many of the wireless projects under way at banks and financial services firms today are in pilot stage, involving only a few hundred consumers and undertaken on a one-off basis to gain first-mover advantage,” said Dr Mark Greene, vice president, IBM Global Financial Services Sector.

“While many benefits have been realized, financial services companies now are faced with the challenge of delivering higher value financial services to hundreds of thousands of customers located around the globe. The IBM and Ericsson alliance will develop the necessary infrastructure for financial services companies to integrate Mobile Internet into their multi-channel strategy, allowing them to easily offer the next generation financial services to build customer loyalty,” added Greene.

“The Ericsson and IBM alliance is an important step in realizing our strategy to create and drive Mobile Internet applications. It aims to bring a unique combination of expertise to the market to enable financial institutions eager to capitalize on the opportunities of Mobile Internet,” said Lars Boman, president, Ericsson Internet Applications. “It will accelerate the uptake of Mobile Internet for financial services and will drive the development of additional applications and traffic volume for GPRS and 3G in this sector.”

The joint offering will combine Ericsson Mobile Internet application building blocks such as Ericsson Mobile e-Pay, Safetrader and WAP Gateway with the IBM WebSphere infrastructure family of products, including WebSphere Everyplace Suite, and the IBM eServer family of products. IBM Global Services will provide business innovation consulting and IT integration services.

Ericsson is the leading communications supplier, combining innovation in mobility and Internet in creating the new era of mobile Internet. The company provides total solutions covering everything from systems and applications to mobile phones and other communications tools. With 100,000 employees in 140 countries, Ericsson simplifies communications for customers all over the world.

IBM Financial Services Sector is the world’s leading provider of comprehensive, integrated eBusiness solutions to the banking, financial markets and insurance industries. Working directly with its financial services customers, IBM develops and deploys mission-critical industry- specific technology solutions. Those solutions comprise the full range of IBM capabilities including consulting, software, hardware, research and services.

IBM’s Financial Services Sector

Ericsson

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