IBM Services Signs Agreement with Lenovo Data Center Group to Increase Customer Care with Cognitive and Blockchain Solutions

IBM’s Cognitive and Blockchain capabilities will support Lenovo’s ThinkSystem and ThinkAgile platforms

ARMONK, N.Y.,  — IBM (NYSE: IBM) today announced that it will support the customer experience of Lenovo’s Data Center Group with Cognitive and Blockchain-powered field service solutions in over 200 countries worldwide.

The multi-year agreement continues to build on the IBM-Lenovo relationship that began in 2005.

Today’s customer service demands have evolved to a current standard that is expected to seamlessly integrate various networks and deliver 24×7 connection with a high level of speed and accessibility. In fact, according to IBM’s research, more than $1 trillion is spent on 265 billion customer service calls each year industry-wide, with 50% of those calls going unresolved. That data, compounded by a recent report, revealed that poor customer service is costing businesses more than $75 billion a year –up $13 billion since 2016.

This collaboration can help take customer care to the next level for Lenovo. When a customer connects with an agent for Lenovo’s server, storage, or networking services, IBM’s Virtual Assistant for Technical Support uses its natural language capabilities and contextual recognition to personalize the conversation. It is designed to ask targeted questions about service issues and obtain solution advice. It will also access key customer information, aligning to Lenovo’s focus on driving a fast, effortless, and proactive customer support experience.

“The enterprise today is equipped with a host of new technology solutions built to offer customers unprecedented support and deliver a world-class customer experience,” said Laura Laltrello, Vice President and General Manager, Lenovo Data Center Group. “We are looking forward to working with IBM to take the next step with our customers to deliver a personalized and seamless experience that ensures we continue to deliver industry leading customer satisfaction in data center support.”

These IBM services are designed to improve the customer experience for Lenovo’s end users by integrating the global coverage and capacity of IBM’s Customer Engagement Centers'(CEC) field service solutions, and parts and logistics services around the world, with the help of:

  • Blockchain to help create a more secure and transparent environment to process and monitor the purchase and distribution of critical hardware and software equipment for Lenovo’s data centers.
  • Virtual Assistant for Technical Support to use customer history and preferences, product manuals, technical documentation, and any other available information including FAQs, all within fingertip reach for call center agents.
  • Client Insight Portal to provide data analytics and trend analysis with enhanced personalization, on screen alerting to identify troubled areas, and automated root cause logic.
  • Augmented Reality to enable more than 19,000 field agents to help deliver a consistent client experience around the globe by allowing customers and technicians to share real-time video of machines requiring repair with fellow IBM professionals to help diagnose problems and illustrate the best practices to solve them.

“Data can have an unprecedented impact on the enterprise, and artificial intelligence can take customer service to a whole new level of personalization,” said IBM General Manager of Technology Support and Services, Vivek Mahajan. “This global collaboration with Lenovo further strengthens our long-standing relationship and will help to empower technicians in every corner of the globe to help deliver service excellence using the power of Blockchain and Cognitive Computing.”

IBM Technology Support Services receives more than 50 million service requests per year in over 200 countries worldwide, and provides proactive, reactive, on-site, and remote support for over 30,000 IBM and non-IBM products.

Regions Bank Taps IBM’s AI to Power Next Generation Customer Service

Watson has helped Regions answer over 1.5 million customer calls and 1.4 million banker questions

NEW YORK, — IBM (NYSE: IBM) today announced that Regions Bank has selected the company’s artificial intelligence (AI) technology to help improve customer service and assist bankers in everyday work.

In today’s digital world, the customer experience remains paramount. A staggering 62% of banking customers will consider switching to a competitor after only 1-2 bad experiences, and more than 90% of customers share details about bad experiences with others1. Customer service professionals know that most questions don’t always require long troubleshooting. Agents spend their time answering similar questions, rather than focusing on more complex, exceptional cases.

To ensure a positive customer experience, Regions Bank is using Watson in its contact centers to help both customers and employees. The company’s Banker Assist harnesses Watson Assistant to provide bankers with guidance on customer inquiries, enabling them to resolve customer service needs faster. With Banker Assist, employees can use AI-powered search when faced with a question to provide quicker call resolutions and more consistent answers. Already, 700 professionals at the bank rely on Watson to complete customer problem resolution.

Additionally, when customers call Regions, many interact directly with Watson Assistant receiving rapid and consistent answers to their questions. They can get help on a variety of issues including updating personal information and navigating the Regions Bank website. Letting Watson take on the more routine questions allows service representatives to tackle the more intellectually challenging questions, spend more time engaging with customers and be better informed to resolve issues. Over time, Watson will be trained on other tasks, including analyzing customers’ tone to help determine when a customer should be transferred to a live agent.

“At Regions we are investing in technology to make banking easier for our customers and to recruit and retain talented associates,” said Chris Brasher, head of Bank Operations for Regions Bank. “IBM Watson’s automated intelligence is an important tool that allows us to operate more effectively by understanding customer needs. We are identifying additional use cases for this technology as part of our focus on continuous improvement across the company.”

“The use of artificial intelligence among banks continues to rise, helping financial institutions make better use of vast amounts of data, analyze patterns, evaluate risks and improve customer service,” said Beth Smith, General Manager, IBM Watson AI. “Regions Bank is focused on improving customer and associate relationships and Watson will help them continue to provide a great customer experience.”

IBM to Develop an AI-Powered IoT Solution to Help Clients Manage and Monitor Aging Bridges, Tunnels, Highways and Railways

Sund & Bælt uses IBM Maximo for Civil Infrastructure to help construct Europe’s smartest tunnel

ORLANDO, Fla.,  — At IBM’s IoT Exchange, IBM (NYSE: IBM) today announced a collaboration with Sund & Bælt — which owns and operates some of the largest infrastructure in the world — to assist in IBM’s development of an AI-powered IoT solution designed to help prolong the lifespan of aging bridges, tunnels, highways, and railways. The new industry solution, IBM Maximo for Civil Infrastructure, further extends the IBM Maximo portfolio while providing deep industry and task-specific functionality to help organizations manage, monitor and administer their infrastructure assets.

Deteriorating infrastructure is a global challenge. Organizations struggle with aging facilities, the difficulty of physical inspections and high cost of continued maintenance.  According to the American Road & Transportation Builders Association 2019 Bridge Report, in the United States, 47,052 bridges are considered “structurally deficient.” Today’s announcement leverages Sund & Bælt’s operational expertise with IBM’s Maximo Enterprise Asset Management and Asset Performance Management (APM) solutions, to help extend the lifespan of infrastructure and reduce overall maintenance costs.

Maximo for Civil Infrastructure consolidates various sources of data including maintenance and design details, near real-time IoT data generated from sensors placed on structures, wearables from workers, stationary cameras and drones, and weather data from The Weather Company, to help clients identify and measure the impact of damage such as cracks, rust and corrosion, as well as displacement vibrations and stress. By implementing predictive and prescriptive maintenance strategies using IBM Maximo APM coupled with AI visual recognition tools developed by IBM Research, organizations can endeavor to model, map and monitor each structure. This can help them perform rapid assessment to prioritize maintenance decisions that target critical repairs, and address compliance issues in order to help them meet regulatory obligations.

“Bridges, tunnels, and roads provide access to family, job opportunities, education and more, but much of this infrastructure is aging. With Maximo for Civil Infrastructure, IBM is applying IoT and AI technology to help organizations improve the way these structures are monitored and managed,” said Kareem Yusuf, Ph.D., General Manager, IBM Watson IoT. “Sund & Bælt’s industry expertise coupled with IBM’s 30-year investment in Maximo capabilities for the management of physical assets and  IBM’s Maximo Asset Performance Management portfolio, can be leveraged to help organizations with their maintenance and operation of aging infrastructure worldwide.”

Sund & Bælt utilizes AI to maintain some of the world’s largest bridges

Sund & Bælt owns and operates some of the largest infrastructure in the world, such as the Storebælt Link and the 16km Øresund Link between Denmark and Sweden. Currently preparing construction for the world’s longest immersed tunnel, the 18 km Femern Belt Fixed Link between Denmark and Germany, Sund & Bælt is working  to also make this Europe’s smartest tunnel. The Maximo for Civil Infrastructure solution is designed to help organizations more efficiently operate and maintain this crucial public infrastructure.

“As our infrastructure facilities are aging and traffic increases, it is crucial for us to take in new methods for keeping the structures safe and operational at all times while avoiding rising costs,” said Mikkel Hemmingsen, CEO at Sund & Bælt. “Collaborations with world leading tech-partners such as IBM can help us secure the future operation of our link, and at the same time we are pleased that the know-how from our operation can benefit organizations in the industry around the globe through this new IoT solution.”

IBM’s Global Supply Chain Transformation Wins 2019 NextGen Supply Chain Leadership Award for Blockchain and IoT

World’s First Enterprise Computer Hardware Partnership Recognized for Using Disruptive Technologies to Achieve End-to-End Supply Chain Security

CHICAGO, today announced, that its global supply chain transformation has won a 2019 NextGen Supply Chain Leadership Award for the innovative use of blockchain and IoT. The distinction recognizes the world’s first enterprise computer hardware partnership using these disruptive technologies to achieve end-to-end supply chain security. Using IBM Blockchain and IoT, IBM’s supply chain improved traceability and single source-of-truth to each network partner to improve product authentication and reduce warranty costs.

IBM’s supply chain organization manages the critical supply chain operations of engineering, logistics, manufacturing, and sales transaction support. It digitized physical assets such as hard disk drives, while registering asset transactions throughout the product life cycle into an immutable shared ledger using blockchain and IoT as part of this award-winning initiative. One key project began as a Proof-of-Concept in 2018 between IBM and Seagate Technology, which came to a successful conclusion in March 2019. Both companies are now working toward a potential pilot deployment that may be expanded to include more suppliers.

“Industry 4.0 is an end-to-end industrial transformation, in which mastering the 21st century digital supply chain – enabled by blockchain, IoT, and AI technologies – is a critical success factor for enterprises to gain a competitive business advantage,” said Ron Castro, VP of Supply Chain, IBM. “With these innovative technologies revolutionizing the entire supply chain by lowering transactional costs and accelerating processes, harnessing their transformative power is imperative for executives to build transparent, intelligent and predictive supply chains at scale.

IBM’s supply chain transformation initiative contained three separate, yet complimentary project use cases to make a positive business impact as blockchain was infused into IBM’s supply chain. The three application cases include:

  • Parts Provenance – The initial impact for this blockchain application in IBM’s supply chain included GDPR risk mitigation, improved compliance for data erasure, product authenticity, and reduced part and shipping costs. This encompassed capturing parts data as they proceed through the supply chain from suppliers and system integrator to customer.
  • Internet of Things (IoT) – The Supply Chain IoT Blockchain project focused on improving products lifecycle traceability in IBM’s complex global supply chain. This resulted in an increase in product traceability, while also achieving improvement on cost avoidance for parts provenance. By equipping each inbound and outbound shipment asset with an IoT enabled tracking device to provide near-real-time visibility of assets, IBM’s supply chain can predict each asset’s behavior to reduce the risk or loss or damage liability.
  • Customs Declaration – IBM’s supply chain group focused on improving efficiencies by decreasing compliance risks during import and export processes, while reducing delays and stoppages in supply chain logistics with improved data integrity and improved visibility of assets within the network. With the shared ledger in IBM’s supply chain accessible to each key stakeholder involved in the customs declaration process and automated interfacing of data to customs’ system, time and cost savings were achieved in the logistics and customs process.

The success of IBM’s initiative can enable extremely effective confirmation of provenance and authenticity of assets, while optimizing security and efficiencies by simplifying and accelerating documentation exchanges between supply chain partners, ” said John Morris, Vice President and Chief Technology Officer, Seagate Technology. “Additionally, it potentially increases productivity by eliminating redundant processes, while helping to strengthen regulatory compliance and build trust among all key stakeholders.”

IBM’s Vice President of Supply Chain, Ron Castro, presented his 2019 NextGen Supply Chain Conference keynote titled, Applying Augmented Intelligence (A.I.), Blockchain and Predictive Analytics to Expand End-to-End Visibility and Improve Operational Efficiency on Tuesday, April 16 from 10:15 – 11:15 a.m. CT.

Albertsons Companies to Join Blockchain-based IBM Food Trust Network to Pilot Increased Transparency for Romaine Lettuce

Grocer is the latest company to adopt blockchain-based traceability system for global food ecosystem

ARMONK, N.Y. and BOISE, Idaho — Albertsons Companies, one of the largest food and drug retailers in the United States, is joining the blockchain-based IBM Food Trust network and will begin piloting the technology to improve how food is traced from farm to store shelf. The addition of Albertsons Companies to the Food Trust ecosystem of more than 80 brands brings blockchain-based food traceability to more consumers and industry players – from producers to suppliers to retailers – by helping enable greater transparency and collaboration, and ultimately, a safer food supply.

Blockchain is a system of record that establishes a shared environment for food transactions in which all participants can collaborate in a highly secured and transparent way to build trust. Food Trust enables network members to share digital, distributed and immutable data, so that stakeholders across the supply chain can work together to trace and authenticate products or optimize supply chain processes. The solution creates a digital record of transactions or interactions – from a packaging date, to the temperature at which an item was shipped, to its arrival on a grocery shelf.

The growing number of participants using the technology helps address a broad range of food system issues, such as supply chain efficiency, freshness, waste reduction, sustainability and participants’ ability to verify certifications, such as fair trade and organic. It is being used to make the end-to-end food ecosystem more transparent and trustworthy, and has the potential to transform broad, nationwide food recalls into efficient, precise eliminations of recalled products. Already, more than five million food products digitized on the solution are on retail shelves.

Albertsons Companies, which operates nearly 2,300 stores across the U.S., will pilot Food Trust for tracing bulk romaine lettuce from one of its distribution centers, then will explore expanding to other food categories throughout its distribution network. Albertsons Companies plans to pilot the solution to help overcome the obstacles that have existed when a traceback is initiated for a product like romaine and is evaluating ways to use the technology to highlight the provenance of its extensive Own Brands portfolio.

“Blockchain technology has the potential to be transformational for us as we further build differentiation on our fresh brand,” said Anuj Dhanda, Chief Information Officer, Albertsons Companies. “Food safety is a very significant step. In addition, the provenance of the products enabled by blockchain — the ability to track every move from the farm to the customer’s basket — can be very empowering for our customers.”

“Multiple high-profile consumer advisories from the Centers for Disease Control and Prevention and the Food and Drug Administration demonstrate the need to find more efficient ways of tracing products and identifying likely sources of contamination in a timely manner,” said Jerry Noland, VP of Food Safety & Quality Assurance, Albertsons Companies. “Consequently, retailers are exploring new technologies to improve the infrastructure that underpins the global food supply chain.”

A blockchain network is strongest when it includes multiple, diverse members that form a transacting ecosystem. That is why the solution can enable an ecosystem of companies from across the food industry to onboard and share data. Already, members are recommending or mandating that their supply chain partners, such as downstream suppliers, join the network. This is intended to bring a more complete view of the entire lifecycle of a food product.

“Establishing IBM Food Trust and opening it to the food ecosystem last year was a major milestone in making blockchain real for business,” said Raj Rao, General Manager, IBM Food Trust. “Today, we are focused on ensuring that the solution scales and is accessible to participants across the food ecosystem, such as Albertsons Companies. By bringing more members into the network and enabling them to share greater cross-sections of data in a secured environment, we believe our vision of a transformed food ecosystem using blockchain is closer than ever.”

By creating a transparent, secured information-sharing platform, the food ecosystem can benefit from greater efficiencies and lower barriers to critical information access to help make the food supply chain safer. Built on Hyperledger Fabric-based open source technology, the solution uses permissioning to ensure companies can set rules about who can see the data they upload to the solution and for how long, and that they maintain control of their data even after it has been uploaded to Food Trust.

Centerbridge Partners to Acquire IBM’s Marketing Platform and Commerce Software Offerings to Form Standalone Marketing and Advertising Technology Company

Strategic Purchase by Centerbridge Funds to Enable Next Generation of Marketing and Commerce Software Solutions; Accelerates Mission to Bring AI to the CMO
Post-Close, Current Executive Team to Continue Leading Business

NEW YORK and ARMONK, N.Y., – Centerbridge Partners, L.P. (“Centerbridge”) and IBM (NYSE: IBM) today announced a definitive agreement under which funds advised by affiliates of Centerbridge will acquire IBM’s marketing platform and commerce software offerings (the “Company”). The transaction is expected to close in mid-2019, subject to completion of applicable regulatory reviews and customary closing conditions.

After closing, Centerbridge intends to form a standalone company that will deliver a modern, comprehensive portfolio of solutions to meet the CMO’s biggest challenges across marketing and advertising. The Company will announce a new name and brand identity, which will be launched after close.

The Company will be led by Mark Simpson as CEO, after the closing, along with other key IBM executives, and will move its headquarters to New York City. Mr. Simpson is currently Vice President, Offering Management and Strategy for the IBM Marketing Platform and Commerce offerings. He was previously the founder and president of Maxymiser, a recognized leader in customer experience optimization. Centerbridge plans to establish a board of directors for the new company, which will include independent members with deep marketing and software experience.

IBM’s marketing and commerce software offerings include:

  • Campaign Automation
  • Marketing Assistant
  • Media Optimizer
  • Customer Experience Analytics
  • Content Hub
  • Real-Time Personalization
  • Personalized Search
  • Universal Behavior Exchange
  • Intelligent Bidder
  • Price & Promotion Optimization
  • Payments Gateway

The offerings today include marketing automation tools, marketing analytics, an AI-powered content management system, an open ecosystem connector, and robust services. Centerbridge will position the standalone company to lead the next generation of marketing and commerce software solutions, by further investing in AI, growing the marketing ecosystem, and giving marketers tools to protect user privacy.

“We are excited about this next chapter, which will enable us to build on the significant steps we have taken over the last few years to modernize the portfolio. Once closed, this transaction will help us accelerate our efforts to empower our clients to make smarter, more timely decisions in their marketing and advertising initiatives. We look forward to working with Centerbridge’s world-class team to ensure a smooth transition and position the business to drive the next generation of marketing clouds,” said Mr. Simpson.

Jared Hendricks, Senior Managing Director at Centerbridge, commented, “The Company is a demonstrated leader in offering AI-powered marketing solutions in an ever-evolving industry. We are deeply committed to advancing these compelling products through continued investment and intend to accelerate existing product roadmaps and introduce new categories. Following close, we look forward to working with existing business partners and the Company’s highly talented team, including Mark Simpson, whose industry experience and significant domain expertise make him the perfect fit to lead this business during its next phase of growth.”

“IBM plans to work with Centerbridge on cloud and AI to help our customers continue to transform in this new era of technology, and we hope to find additional ways to continue collaborating for the longer term,” said Inhi Cho Suh, General Manager, IBM.

Financial terms and conditions of the transaction were not disclosed.

RemoteMyApp adopts IBM Cloud to scale multi-platform gaming service

IBM Cloud provides Vortex platform with scalability and strong performance for online gamers around the world on almost any device

ARMONK, N.Y.,  — IBM (NYSE: IBM) today announced that Polish startup RemoteMyApp will adopt IBM Cloud for increasing global reach and scaling of its Vortex gaming platform.

Vortex allows users to play games anywhere in the world on almost any device – smartphone, tablet, or smart TV –via the application, without downloading the game. As the platform has grown in usage and expanded to new markets such as Latin America and South East Asia, Vortex needed to scale its services, updates, and functionality to meet growing demand from players. Vortex turned to IBM Cloud to provide the global scale needed to provide a low latency gaming experience no matter where players are or what device they are using.

IBM Cloud positions the Vortex platform to provide high performance computing service with GPU graphics cards. Using powerful servers hosted in several of the nearly 60 IBM Data Centers around the world, Vortex can handle an infinite number of players from all continents without any loss in efficiency or quality of services and with the lowest possible latency. With a game library available in the cloud, gamers will even play games on older devices because all of the processing, including graphics, has been transferred to the cloud.

The growth of online gaming platforms turning to cloud is the result of two factors –a constant growth in the number of players and the increasing popularity of mobile devices. The Vortex deployment is just one of a handful of gaming industry clients like EA’s Firemonkeys, Exit Games, and LiquidSky that recently adopted the IBM Cloud to deliver a gaming experience that is globally scalable and allows for quick product updates in a competitive market.

“The gaming market is currently the fastest growing entertainment sector, and the sale of video games alone generates almost three times more revenue than the global film industry,” said Andreas Hestbeck, CEO at RemoteMyApp. “Our users live almost everywhere in the world and the subscriptions are growing every day – which is why we need IBM Cloud for reliable, global scalability.”

“RemoteMyApp chose IBM Cloud as a collaborator in their digital transformation because we are dedicated to meeting customers where they are on their cloud journey whether they’re a startup or have decades of legacy systems and need a hybrid cloud solution,” said Przemyslaw Galinski, IBM Cloud Platform Sales Leader Poland and Baltics. “We look forward to providing RemoteMyApp with the scale they need as they mature in this competitive, growing market.”

Since its launch in 2017, Vortex has gained in popularity among cloud gaming platforms with more than 6 million users. With a monthly subscription model, players are granted 100 hours of gameplay and access to more than 100 games, including new releases. Unlike many other streaming platforms, Vortex does not require installing anything other than the application to access the library and choose a game.

IBM Blockchain World Wire, a New Global Payment Network, to Support Payments and Foreign Exchange in More Than 50 Countries

Provides real time settlement using a variety of digital assets

SINGAPORE,  — MONEY 20/20: IBM (NYSE: IBM) today announced IBM Blockchain World Wire, a real-time global payments network for regulated financial institutions, is officially accessible in a growing number of markets.

Designed to optimize and accelerate foreign exchange, cross border payments and remittances, World Wire is the first blockchain network of its kind to integrate payment messaging, clearing and settlement on a single unified network, while allowing participants to dynamically choose from a variety of digital assets for settlement.

“We’ve created a new type of payment network designed to accelerate remittances and transform cross-border payments to facilitate the movement of money in countries that need it most,” said Marie Wieck, General Manager, IBM Blockchain. “By creating a network where financial institutions support multiple digital assets, we expect to spur innovation and improve financial inclusion worldwide.”

Today World Wire has enabled payment locations in 72 countries, with 47 currencies and 44 banking endpoints.  Local regulations will continue to guide activation, and IBM is actively growing the network with additional financial institutions globally.

World Wire provides a more straight-through model for cross border payments using the Stellar protocol that makes money transfers point-to-point in lieu of the complexities of conventional correspondent banking. It reduces intermediaries and allows users to accelerate settlement time often in seconds by transmitting monetary value in the form of digital assets, commonly known as cryptocurrencies or “stable coins.” This simplified approach improves operational efficiency and liquidity management, streamlining payment reconciliation and reducing overall transaction costs for financial institutions.

The network already supports settlement using Stellar Lumens and a U.S. dollar stable coin through IBM’s previously-announced collaboration with Stronghold.  Pending regulatory approvals and other reviews, six international banks, including Banco Bradesco, Bank Busan, and Rizal Commercial Banking Corporation (RCBC), have signed letters of intent to issue their own stable coins on World Wire, adding Euro, Indonesian Rupiah, Philippine Peso, Korean Won and Brazilian Real stable coins to the network. IBM will continue to expand the ecosystem of settlement assets based on client demand.

“Bradesco continuously adopts innovation that enhances customer experience and improves efficiency,” said Luiz Carlos Brandao Cavalcanti Junior, Innovation and Digital Channels Executive Director, Banco Bradesco. “The World Wire Network addresses both of these aspects, and therefore presents a valuable opportunity for Bradesco and its customers in Brazil.”

“RCBC is pleased to be an early innovator with plans to issue our own Peso stable coin on World Wire, pending final approval from our regulators,” said Manny T. Narcisco, First Senior Vice-President, RCBC. “We’re focused on innovation that adds value for our customers, and World Wire presents a tremendous opportunity to transform and enhance our payment infrastructure.”

CULedger and IBM Announce Collaboration to Deliver Blockchain Services for Financial Cooperatives and Credit Unions Worldwide

DENVER, CO — CULedger, a credit union service organization (CUSO), today announced a collaboration with IBM (NYSE: IBM) to pioneer new blockchain-based services to help credit unions provide a better experience for members.

CULedger will work with IBM to use permissioned blockchain technologies to create an immutable audit trail that can be used to create new business models and transform existing business processes for credit unions. The companies also intend to help drive greater financial inclusion by extending reach to a broader range of new members.

The credit union industry serves more than 260 million members worldwide with over $1.7 trillion of circulating assets and is historically known for superior customer service. The adoption of blockchain technology will help build continued momentum among all demographics, as well as small and medium enterprises that currently lack access to financial services.

By creating a permissioned blockchain network where services can be shared among all credit unions, CULedger will improve services such as identification authentication, regulatory compliance around know-your-customer (KYC), lending and payments, while making it easier and more efficient for consumers to conduct any interactions that require authentication.

“A cooperative model that helps improve the member experience while benefitting all credit unions is the ideal approach to ensuring the next wave of financial innovation for the credit union industry,” said John Ainsworth, CEO and President, CULedger. “We are creating a network through which all members can join and access new services and enabling credit unions to become even more competitive while addressing new market dynamics where members are demanding even more for their financial services provider.”

Credit union members worldwide will also have access to a CULedger issued digital credential, called MyCUID that adheres to the privacy-by-design requirements of self-sovereign identity supported by the Sovrin Foundation. MyCUID will help credit unions support shared financial services which allows members to conduct transactions among any credit union on the network.

Blockchain’s potential value to the enterprise is expected to grow to more than $360 billion by 2026, then surge to more than $3.1 trillion by 2030, according to a recent Gartner report1.  As the financial services industry continues to evolve, blockchain technology is being used to help address consumer demands for safer, faster and more efficient transactions.

“Credit unions will be able to cooperate and receive shared value from quickly exchanging sensitive data in a permissioned, individually controlled and transparent way. This decentralized approach using blockchain helps put the customer in control of their own identity,” said Marie Wieck, General Manager, IBM Blockchain. “The work underway between CULedger and IBM will also lay the foundation for new kinds of services and collaboration among credit unions as we work together to scale and extend the network.”

As the leader in Enterprise Blockchain, IBM brings deep expertise in the financial services industry and experience in building blockchain networks among large ecosystems of members. IBM Blockchain supports real business needs while addressing the requirements for accountability, privacy, scalability and high security in the network.

Initial services on CULedger’s blockchain network will be available to credit unions worldwide beginning later in 2019

IBM joins with Vodafone, SEAT, KONE and Mitsufuji in showcasing 5G and other innovations at Mobile World Congress

BARCELONA, Spain,  — Mobile World Congress – IBM (NYSE: IBM) joined with major industry players Vodafone, VW’s SEAT, KONE and Mitsufuji to highlight ways that the convergence of 5G, cloud computing and artificial intelligence are beginning to transform businesses and lives around the world.

Cloud and high-speed connectivity help companies tap a plethora of powerful IT services such as AI, augmented reality and blockchain provide highly-contextualized and personalized experiences for customers and employees.

But with the average company using up to 15 clouds and multiple types of AI, getting everything working together in a secure and optimised way is a major obstacle.

IBM and Vodafone last month signed a landmark $550M partnership to address this challenge by bringing together connectivity, cloud and AI technologies to help companies remove complexity from their digital transformations.

“IBM’s partnerships with global telco companies like Vodafone will help speed up the deployment of 5G and provide easier access to new technologies such as AI, blockchain, edge computing and IoT,” said Michael Valocchi, IBM General Manager of the new venture with Vodafone. “This is because the promise of 5G doesn’t just depend on fiber, spectrum and gadgets, but on advanced levels of integration, automation, optimization and security across the ever more complex IT systems that companies are building in a bid to transform.”

Greg Hyttenrauch, Co-leader of the new venture for Vodafone Business, explains that “by providing the open cloud, connectivity and portable AI technologies that companies need to manage data, workloads and processes across the breadth of their IT systems, Vodafone and IBM are helping to drive innovation and transform user experiences across multiple industries – from retail to agriculture.”

SEAT, a member of the Volkswagen Group and one of Europe’s leading auto manufacturers, is using IBM Cloud and Watson AI technology combined with the power of high-speed 5G connectivity, to reposition itself as a mobility services provider and transform urban mobility.

“At SEAT, we are working with innovative cities and technology companies to come up with solutions to make urban mobility easier and more efficient,” said Jordi Caus, SEAT’s Head of New Urban Mobility Concepts. “IBM is helping us invent new approaches to mobility with cloud and AI that will transform our business strategy while improving the lives of people living in urban areas.”

KONE, a leading manufacturer of elevators and escalators, is tapping IBM Watson IoT solutions on the IBM Cloud to keep more than one billion people around the world on the move every day. Using IBM IoT technology, KONE is moving from reactive to proactive to predictive services.

“Our IoT technology can constantly monitor up to 200 critical parameters of a single piece of KONE equipment, bringing a totally new experience to maintenance services,” said Jean-Paul Bourgeat, KONE’s Service Director for South Europe, Middle East and Africa. “Working with IBM, KONE can now bring much more value to our customers, with services that can, for example, lead to a 25% improvement in first time fix.”

Earlier this month, IBM announced a partnership with Mitsufuji, a company in Japan that provides worker safety solutions that include connected garments, IoT technology and AI to alert workers to high-risk situations. Mitsufuji uses IBM Maximo Worker Insights and IBM’s IoT Platform to help organizations monitor worker safety, spot trends and potential problems, and react to changing environmental conditions.

“Using IBM’s advanced analytics and cloud capabilities, we can create an almost complete picture of a worker’s safety,” said Ayumu Mitera, CEO of Mitsufuji. “Wearables, smart devices and environmental sensors all produce vast amounts of data which are analysed in real-time, helping our clients to create safer working environments and us to get our innovations to market three times faster than previously.”