This IDC Financial Insights report looks at Bank of America Merrill Lynch's collaboration with IdenTrust to develop a solution to provide electronic bank account management services to the bank's clients. To speed time to market, the bank worked with IdenTrust to leverage a software-as-a-service offering.
According to Jeanne Capachin, research vice president, Commercial Banking, "When banks have a need for speed, they are more and more turning to solutions in the cloud." By turning to an outside provider rather than relying on internal resources, the bank was able to get to market very fast.
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IDC Financial Insights: Bank Technology Management Strategies , IDC Financial Insights: Worldwide Risk and IT Infrastructure Strategies