Firm unveils technology to modernise financial transactions

IBM’s LinuxONE has been unveiled as a revolutionary technology to redefine banking operations in Nigeria, offering a blend of sustainability, scalability, and security. At the launch event in Lagos with the theme, “Modernising Banking Solutions with IBM LinuxONE” industry leaders and technology experts gathered to explore how the platform can shape the future of core […]

IBM’s LinuxONE has been unveiled as a revolutionary technology to redefine banking operations in Nigeria, offering a blend of sustainability, scalability, and security.

At the launch event in Lagos with the theme, “Modernising Banking Solutions with IBM LinuxONE” industry leaders and technology experts gathered to explore how the platform can shape the future of core banking systems and drive green IT initiatives.

According to Tom Kolder, IBM systems and LinuxOne specialist, LinuxONE is engineered to handle the fast-paced evolution of the financial sector.

“Its scalable infrastructure allows banks to adapt quickly to growing data demands and customer expectations. This agility ensures organisations remain competitive in a market where change is constant” he explained.

• BOI reiterates commitment to industrialisation
• High production cost: MAN harps on green energy investments

As Nigeria grapples with challenges like energy consumption and evolving regulatory landscapes, LinuxONE stands out for its energy-efficient and eco-friendly design.

The platform, according to the founder, consumes significantly less energy than traditional systems, addressing one of the nation’s critical economic pain points.

With its alignment to environmental, social, and governance (ESG) principles, LinuxONE provides financial institutions with the tools to reduce carbon footprints, lower operational costs, and meet sustainability goals—all while maintaining top-notch performance.

Security, another pressing concern in Nigeria’s banking sector, is a cornerstone of LinuxONE. It features advanced quantum-safe encryption and robust compliance measures, the platform ensures sensitive data is safeguarded while adhering to both local and global regulations.

One of the standout features highlighted during the event was the integration of Oracle licensing with LinuxONE, enabling financial institutions to leverage Oracle’s capabilities at a fraction of the typical cost. This synergy not only maximises return on investment but also empowers organisations to enhance their technological capabilities affordably.