Ericsson and HPE Partner to Launch Fintech Cloud Services

Straight from the Mobile World Congress (MWC) 2024 in Barcelona, leading telecom company Ericsson has announced a new collaboration with Hewlett-Packard Enterprise (HPE) to help empower digital transformation in financial services.

Per the latest partnership, the Ericsson Wallet Platform will integrate with HPE GreenLake, providing enterprises with cloud-based services, increased agility and scalability.

Now, HP’s enterprise customers will be able to unlock new revenue reams, modernise their financial services offerings and leverage new digital financial solutions. 

Ericsson and HPE: Partnering to advance finserv for enterprises 

The terms of Ericsson’s and HPE’s agreement are expected to be signed at 2024’s MWC, marrying Ericsson’s Wallet Platform with HPE GreenLake, a hybrid cloud product providing solutions that help enterprises accelerate their digital transformation and business growth.

Today, the Ericsson Wallet Platform – which houses an open architecture suite of financial services offerings – supports over 400 million global wallets across the globe, processing 2.8 billion transactions valued at over US$40bn monthly.

By integrating the Ericsson Wallet Platform, HPE GreenLake will benefit from a significantly boosted product offering that it will offer alongside its hybrid cloud product suite. 

But HPE GreenLake is looking to go further by not just integrating but also streamlining Ericsson’s Wallet Platform with new modern infrastructure, to deliver a fully managed experience for enterprises.

Indeed, upgrades to Ericsson’s Wallet Platform, once integrated with HPE GreenLake, will help HPE’s customers achieve faster deployment, launch services with elastic scale of infrastructure and adapt to seasonal variations in transaction traffic.

Michael Wallis-Brown, Head of Ericsson Mobile Financial Services, says: "Our collaboration with HPE not only strengthens our market position but also opens doors for enterprises, allowing them to efficiently leverage our cutting-edge financial services. 

“By integrating the Ericsson Wallet Platform to be delivered with HPE GreenLake, we aim to deliver unparalleled speed, scalability, and security for financial services."

For Ericsson, the partnership represents a milestone agreement to evolve beyond traditional Communication Service Providers (CSPs) and embrace enterprise-level partnerships.

As such, Ericsson’s client reach can now extend to banks, fintechs, and other enterprises, fostering new opportunities in the dynamic financial services landscape.

Phil Cutrone, SVP & GM WW OEM Solutions, Service Providers, and Telco at HPE adds: "This is a milestone offering for both HPE and Ericsson.

“Together, we have the opportunity to drive innovation in financial services as well as in IT, unlocking new revenue streams for our enterprise customers and providing their users with the best digital financial services experience."

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