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SBS, Red Hat to speed global FI digital transformation

Tuesday, December 10, 2024 — 14:09:02 (EST)

Paris, France (December 12, 2024) — SBS, a leader in financial technology solutions, today announced a new collaboration with Red Hat, the world's leading provider of enterprise open-source solutions, to propel banks and financial institutions into their digital futures. Bringing together SBS’s deep expertise in the financial services space with Red Hat OpenShift, the collaboration will help equip financial institutions with the modern architectures they need to more quickly deploy and scale cloud-based software applications within their existing infrastructures.

As banks and financial institutions embrace digitization, the vast majority (90%) are taking a hybrid approach to migrating their operations to cloud-based architectures. This means that instead of overhauling their entire infrastructure at once, they can leverage both their existing on-premise systems and new public cloud offerings in a single environment. Preserving these on-premise infrastructures is especially critical in the financial services industry where internal systems have been built in compliance with strict regulations around data privacy and security.

SBS will leverage the cloud-native framework delivered through Red Hat OpenShift, the industry’s leading hybrid cloud application platform to power its next-generation offerings. This hybrid cloud approach can enable banks and financial institutions to achieve greater flexibility, scalability and agility using Red Hat OpenShift infrastructure without disrupting their existing internal systems or data.

“Working with Red Hat underscores our commitment to guiding our clients through their digital transformation journeys, which for many begins with cloud migration," said Eric Bierry, CEO of SBS. "With Red Hat OpenShift, we’re giving our clients the flexibility to leverage a cloud-agnostic strategy with a fully managed application platform. It’s a strategic play for institutions that want to benefit from the cloud while still addressing security and compliance requirements for their critical data.”

Utilizing Red Hat OpenShift will help SBS further its work to deliver financial software solutions that are tailored to local regulations and requirements in each of the 80+ markets it serves. The company’s global presence will additionally enable it to provide its clients with localized technical support for Red Hat OpenShift that meets their individual cultural and linguistic needs.

"We’re pleased to collaborate with SBS, which is deeply engaged with financial services institutions in the region, to help address the application development needs of the financial sector," said Penny Philpot, EMEA Ecosystems Vice President, at Red Hat. "We look forward to providing financial institutions with a more flexible, scalable path to modernizing their infrastructures on Red Hat OpenShift."

SBS’s relationship with Red Hat builds on a foundation established by its former parent company and now partner, Sopra Steria. As a Red Hat Premier Business Partner in multiple European countries, Sopra Steria has been committed to driving digital transformation and modernization offerings using Red Hat technologies for years.

About Red Hat

Red Hat is the world’s leading provider of enterprise open-source solutions, including Linux, cloud, container, and Kubernetes technologies. It delivers robust, hardened solutions that enable enterprises to seamlessly operate across platforms and environments, from core data centers to the network edge.

About SBS

SBS (ex-Sopra Banking Software) is a global financial technology company that’s helping banks and the financial services industry to reimagine how to operate in an increasingly digital world. SBS is a trusted partner of more than 1,500 financial institutions and large-scale lenders in 80 countries worldwide, including Santander, Societé Generale, KCB Bank, Kensington Mortgages, Mercedes-Benz, and Toyota FS. Its cloud platform offers clients a composable architecture to digitize operations, ranging from banking, lending, compliance, to payments, and consumer and asset finance. With 3,400 employees in 50 offices, SBS is recognized as a Top 10 European Fintech company by IDC and as a leader in Omdia’s Universe: Digital Banking Platforms. SBS is headquartered in Paris, France.

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Source: Company press release.