French banking giant BNP Paribas has renewed its ongoing partnership with IBM Services for an additional eight years.

The extension will enable the bank to continue to deploy its cloud approach with IBM Services solutions.

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BNP Paribas-IBM partnership

BNP Paribas established an equally owned joint venture BNP Paribas Partners for Innovation (BP2I) with IBM in 2003. The company developed its first cloud ten years later in 2013.

Now, the bank will integrate the IBM Cloud hosted in BNP Paribas data centres. It will also work to bolster Hybrid Cloud ‘As a Service’ capabilities through IBM Public Cloud solutions and support the development of new services.

Additionally, BNP Paribas will utilise IBM Hybrid Cloud solutions to enhance its services capabilities through Dedicated Cloud, Public Cloud and Private Cloud environments.

The move will help in streamlining integration procedures and optimise workload management between cloud infrastructures.

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BNP Paribas also expects that the partnership with IBM will reduce ‘Time to Market’ while launching digital applications and services. Furthermore, it will have access to the latest technologies, as it develops.

Overall, the BNP Paribas-IBM partnership will enable the bank to continue with the digitisation, ensuring the safety of confidential information.

BNP Paribas is one of the largest banks in the world by total assets. The company has operations in 73 countries and employs 196,000 people.

Last month, its Polish subsidiary BGŻ BNP Paribas Bank selected Backbase Omni-Channel Banking Platform for digital transformation.