Why Citi Is Buying IBM's New Mainframe for Mobile Transactions

From American Banker –

“In an era where businesses are increasingly focused on cloud computing, Citigroup is turning instead to souped-up hardware in the form of IBM's newest z13 mainframe, which it says can help it better deal with the explosive growth in mobile and online transactions.

The mainframe, which launched Wednesday, comes with an impressive list of capabilities. It can process 2.5 billion transactions a day, encrypt mobile and online banking transactions, and allow those transactions to be monitored with real-time analytics, allowing users to spot potential fraud and find opportunities within transactions as they're happening.”
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IBM on the customer-centric model

Mike Hobday, banking practice leader, IBM Global Business Services, UK and Ireland, talks to Finextra about the challenges banks face when creating a customer-centric business model. While banks “have been talking about this for a long time,” Hobday argues that now is the time when banks will truly shift their operational model en masse, especially as non-bank competitors like PayPal and Google continue to make additional inroads into financial services.