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IBM Financial Transaction Manager Version 4.0 Arrives on Red Hat OpenShift

IBM  Financial Transaction Manager (FTM) Upgraded with New Features on Red Hat for Fintech Customers

IBM Financial Transaction Manager (FTM) Solutions bring Data&AI and cloud technologies to help banks change the way money moves.

Global leader in Cloud and computing solutions, IBM has announced new updates to its fintech solutions on Red Hat OpenShift – FTM Version 4.0. The company has released a new version of its world-renowned Financial Transaction Manager (FTM) solution to help banks and financial institutions take advantage of the flexibility of Hybrid cloud. The new version of FTM solution will help fintech customers run Virtualized workflows and deploy containerization on Red Hat OpenShift.

The FTM update comes withing days of IBM announcing the Red Hat Marketplace for accelerating adoption and deployment of Hybrid Cloud environment in diverse industries.

What is IBM FTM?

FTM version 4.0 by IBM is a fully-modernized fintech Cloud software that runs on Red Hat OpenShift, the leading Kubernetes container application platform and the foundation of IBM’s Hybrid cloud strategy.

IBM Financial Transaction Manager (FTM) Solutions bring Data&AI and cloud technologies to help banks change the way money moves as institutions respond to ever-changing client expectations of service and industry regulatory mandates. Challenges include transforming payment operations and controlling costs while meeting the processing and settling requirements of global real-time/instants and SWIFT payments schemes.

IBM FTM is an integrated payments platform for all-channel financial payments and transactions. It seamlessly integrates, orchestrates, and monitors financial payments and transactions in real-time. It is designed to deliver consistent processing across multiple payment types, enabling banks and financial institutions to bring their varied payment operations onto a single platform for clearer, easier management, and better performance.

Recommended: IBM Announces Red Hat Marketplace to Accelerate Open Hybrid Cloud Innovation

In addition to being engineered for speeding processing and unearthing financial behavioral patterns, the software can also help banks speed the development and delivery of new products and services.

At the time of this announcement, Steven Astorino, Vice President, Development, IBM Data and AI, and Director, IBM Canada Lab said –

“This new version of FTM is designed to give organizations like RBC more consistent management of transactions across increasingly diverse cloud environments. And in addition to greater control and management, the program’s integrated analytics and modeling positions banks to unearth insights into payment trends and patterns that help them better understand and respond to customer behaviors.” 

How IBM FTM Deploys?

IBM’s FTM can now be deployed on banks’ and financial institutions’ hybrid cloud environments. The new version will also be available on IBM Cloud for Financial Services, once available, enabling participating financial institutions and its ecosystem of ISVs to leverage the payments platform and transact with ease.

“We have been using IBM Financial Transaction Manager for over 10 years and it is a key part of our payment landscape,” said Naim Kazmi, Head of Retail Banking and Payments Technology from Royal Bank of Canada (RBC), the largest financial institution in Canada.

Naim added, “The release of FTM 4.0 based on a containerized format, brings the potential for us to apply the payments platform directly into our secure private cloud modernization efforts, which includes OpenShift as one of the cloud platforms. The synergy will help us develop and deploy payment solutions more quickly across our expanding environment.”

FTM 4.0 includes support for rulebooks defined by standards bodies including National Automated Clearing House Association, Early Warning Systems for the Zelle Network, The Clearing House, the European Payments Council for SEPA Instant Credit Transfer and SEPA Credit Transfer, and SWIFT for international payments including ISO 20022 High Value Payments.

Key Features of IBM Financial Transaction Manager Version 4.0

  1. Built to manage fintech-specific transactions on a hybrid multi-Cloud platform that can run containerized workloads;
  2. Completely coupled with Red Hat OpenShift deployment flexibility;
  3. Guaranteed freedom to choose from supported cloud service providers;
  4. Gives organizations the flexibility to move container workloads across on-premises, hybrid, and public cloud infrastructures;
  5. Certified containers are validated on the Red Hat OpenShift container platform and built using Kubernetes standards and best practices;
  6. Speeds time to market and potentially lower costs as containerized applications and open technology toolsets simplify application deployment and management for DevOps.

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Source: IBM 

(To share your insights, please write to us at sghosh@martechseries.com)

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