How fintech innovation is driving digital transformation for communities across the globe  

To
meet
the
demands
of
today’s
consumers,
enterprises
must
be
continuously
innovating.
But
innovation
doesn’t
happen
in
silos.
Fintechs,
for
example,
have
been
transformational
for
the
financial
services
industry,
from
democratizing
finance
to
establishing
digital
currencies
that
revolutionized
the
way
that
we
think
of
money.  

As
fintechs
race
to
keep
up
with
the
needs
of
their
customers
and
co-create
with
larger
financial
institutions,
they
can
leverage
AI
and
hybrid
cloud
solutions
to
drive
true
digital
transformation
and
meet
these
evolving
demands. 

How
Dollarito
is
connecting
larger
financial
institutions
with
financially
underserved
communities 

According
to

research
from
the
US
Government
Accountability
Office,
roughly
45
million
people
lack
credit
scores
because
they
don’t
have
certain
data
points
that
credit
scores
are
based
on,
which
limits
their
eligibility.
Traditional
credit
report
models
use
parameters
such
as
the
status
of
an
active
loan
or
credit
card
payment
records
to
give
an
individual
a
credit
score.
If
someone
does
not
fit
within
these
parameters,
it
can
be
difficult
to
procure
a
loan,
take
out
a
mortgage
or
even
buy
a
car.
However,
with
a
more
accurate
model,
such
as
one
powered
by
AI,
financial
institutions
can
better
identify
applicants
who
are
fit
for
credit.
This
can
result
in
a
higher
approval
rate
for
these
populations
that
otherwise
would
typically
be
overlooked. 

Dollarito,
a
digital
lending
platform,
is
focused
on
helping
the
Hispanic
population
with
no
credit
history
or
low
FICO
scores
access
fair
credit.
The
platform
offers
a
unique
solution
that
measures
repayment
capabilities
by
using
new
methodology
based
on
AI,
behavioral
economics,
cloud
technology
and
real-time
data.
Leveraging
AI,
Dollarito’s
models
tap
into
a
wide
store
of
data
from
banking
transactions,
behavioral
data
and
economic
variables
related
to
the
credit
applicant’s
income
source. 

With

IBM
Cloud
for
Financial
Services®,
Dollarito,
an
IBM
Business
Partner,
is
able
to
scale
their
models
continuously
and
quickly
deploy
the
services
that
their
clients
need,
while
ensuring
their
services
meet
the
standards
and
regulations
of
the
industry.  

“Dollarito
uses
IBM
Cloud
for
Financial
Services
technologies
to
optimize
infrastructure
and
demonstrate
compliance,
allowing
us
to
focus
on
our
mission
of
providing
financial
services
to
underserved
communities.
We
are
dedicated
to
building
a
bridge
of
trust
between
these
populations
and
traditional
financial
institutions
and
capital
markets.
With
AI
and
hybrid
cloud
technologies
from
IBM,
we
are
developing
solutions
to
serve
these
groups
in
a
cost-effective
way
while
addressing
risk.”
–
Carmen
Roman,
CEO
and
Founder
of
Dollarito 

Dollarito
is
also
embracing
generative
AI,
integrating

IBM
watsonx™ assistant
to
help
its
users
interact
easily
and
get
financial
insights
to
improve
the
likelihood
of
access
to
credit.
Like
IBM®,
Dollarito
recognizes
the
great
opportunity
that
AI
brings
for
the
financial
services
industry,
allowing
enterprises
to
tap
into
a
wealth
of
new
market
opportunities.  

How
Ionburst
is
helping
to
protect
critical
data
in
a
hybrid
world 

Data
security
is
central
to
nearly
everything
that
we
do,
especially
within
financial
services
as
banks
and
other
institutions
are
trusted
to
protect
the
most
sensitive
consumer
data.
As
data
now
lives
everywhere,
across
multiple
clouds,
on-premises
and
at
the
edge,
it
is
more
important
than
ever
before
that
banks
manage
their
security
centrally.
And
this
is
where

Ionburst
comes
in. 

With
their
platform
running
on
IBM
Cloud,
Ionburst
provides
data
protection
across
hybrid
cloud
environments,
prioritizing
compliance,
security
and
recovery
of
data.
Ionburst’s
platform
provides
a
seamless
and
unified
interface
allowing
for
central
management
of
data
and
is
designed
to
help
clients
address
their
regulatory
requirements,
including
data
sovereignty,
which
can
ultimately
help
them
reduce
compliance
costs.  

Ionburst
is
actively
bridging
the
security
gap
between
data
on-premises
and
the
cloud
by
providing
strong
security
guardrails
and
integrated
data
management.
With
Ionburst’s
solution
available
on
IBM
Cloud
for
Financial
Services,
we
are
working
together
to
reduce
data
security
risks
throughout
the
financial
services
industry. 

“It’s
critical
financial
institutions
consider
how
they
can
best
mitigate
risk.
With
Ionburst’s
platform,
we’re
working
to
give
organizations
control
and
visibility
over
their
data
everywhere.
IBM
Cloud’s
focus
on
compliance
and
security
is
helping
us
make
this
possible
and
enabling
us
to
give
customers
confidence
that
their
data
is
protected
–
which
is
critically
important
in
the
financial
services
sector,”
–
David
Lanc
and
Anne
Lanc,
Co-Founders
and
Inventors
of
Ionburst 

Leveraging
the
value
of
ecosystems  

Tapping
into
innovations
from
fintechs
has
immensely
impacted
the
financial
services
industry.
As
shown
by Ionburst
and
Dollarito,
having
an
innovative
ecosystem that
supports
your
mission
as
a
larger
financial
institution
is
critical
for
success
and
accelerating
the
adoption
of
AI
and
hybrid
cloud
technology
can
help
drive
innovation throughout
the
industry. 

With

IBM
Cloud
for
Financial
Services,
IBM
is
positioned
to
help
fintechs
ensure
that
their
products
and
services
are
compliant
and
adhere
to
the
same
stringent
regulations
that
banks
must
meet.
With
security
and
controls
built
into
the
cloud
platform
and
designed
by
the
industry,
we
aim
to
help
fintechs
and
larger
financial
institutions
mitigate
risk,
address
evolving
regulations
and
accelerate
cloud
and
AI
adoption. 

Learn
more
about
IBM
Cloud

Explore
the
IBM
Cloud
Fintech
Program