The Cloud Series in association with AWS

Core Banking on Cloud: 3 Paths to Bank Modernisation

11 March 2022

To meet evolving customer needs and take advantage of emerging market opportunities, many banks have already started their modernization journey with AWS to leverage machine learning, multichannel applications, and mobile platforms at speed and scale. In this eBook, we take a look at three of the most common paths to bank modernization: Augment your core by developing a cloud overlay on top of the legacy core to expose APIs for modern user experiences Transform your core by lifting and shifting to the cloud, then gradually refactoring Replace your core by rapidly moving to a cloud-native microservices architecture

Open Banking powered by the Cloud, Democratising Finance at Scale

28 October 2021

As new business models emerge with recurring revenue in the innovative payments sector, traditional banks are looking to utilise open banking and open finance to assist with their digital transformation. Consumers need real-time, instant, and faster payment capabilities, and with open banking, PISPs are providing alternative methods of payments with a single API connection. Whether banks are providing alternative payments methods or not, this shift to a digital economy will continue and will result in an attraction to a platform where financial data can be used to offer value-added services to other industries. By utilising APIs, financial institutions can implement open finance solutions to improve the customer experience and offer customers greater product choice and control over their finances and data. With a cloud provider, customers can build APIs across multiple microservices that interact with third parties quickly and connect with them in a simple way. Fintech firms have developed open finance solutions that complement cloud-based open API platforms and provide the solutions financial institutions need. With the cloud, financial institutions can scale APIs on demand, pay only for what they consume, and build modern serverless architectures. Building open finance solutions on the cloud requires minimal capex and investing in this technology today will help financial institutions get a step ahead of industry peers. Download this Finextra impact study, in association with Amazon Web Services (AWS), to learn more.

Core Banking on the Cloud - The Catalyst for Innovation, Agility and Efficiency

07 October 2021

Traditional core systems that assume a branch interface and retain human-led back offices no longer meet needs. To be truly agile, banks must prioritise interoperability and automation through digital channels to stay competitive and avoid irrelevance. With this focus on digital transformation and initiatives such as open finance, banks are adopting a buy approach to software and infrastructure, especially when running core business applications on the cloud. Today, banks do not have to build customised software when providers have plug and play solutions readily available. Software providers have historically deployed a maintenance model where their customers opt for per-user licenses for a particular service. Now, with SaaS, software can be centrally hosted and delivered through the cloud. In addition, many providers are leveraging AI and ML capabilities, and embedding enhanced omnichannel features. This enables banks to optimise, tailor and deliver consistent customer experiences across digital channels, remove friction, and develop deeper trust. As new technologies open up data streams to and from third parties and emerging startups, banks will be able to offer their customers a range of new products, services and insights that will not only optimise customer experiences, both online and offline, but will create highly personalised, customised relationships. Download this Finextra impact study, in association with Amazon Web Services (AWS), to learn more.

AWS on how high performing cloud development teams accelerate innovation

10 September 2021

Randy Bradley, Digital Innovation Leader, Financial Services, Americas at Amazon Web Services, speaks about how high performing cloud development teams accelerate innovation. We learn about the opportunities and challenges associated with realising the benefits of digital transformation, about some of the initiatives required for organisational transformation, especially when attempting to create new products and iterate on insights, and what Financial Institutions’ product teams need to succeed.

How to Gain a Competitive Advantage with Data Access in the Cloud

22 July 2021

Financial services organisations are increasingly looking to utilise cloud-based market data to accelerate their modernisation journey. In this paper we explore how market data provider FactSet, working alongside AWS, is benefiting the financial services sector by distributing its financial content in the cloud. Download the paper to learn more about: How your organisation can benefit from consuming data via a cloud-based data exchange The technology that can enable your organisation to on-board data faster and more efficiently How your organisation can overcome the obstacles to consuming data in a cloud-native way

Enhance Customer Experience with Contextual Finance on AWS

01 April 2021

Customers want choice, control, and a seamless customer experience. In order to provide customers greater product choice and control over their finances and data, companies from all industries are embedding financial services within the context of their offerings, using modular services from Banking-as-a-Service (BaaS) platforms. Banks are using AWS to create and build application programming interfaces (APIs) that enable other companies to embed financial products or services seamlessly in the customer journey. Financial institutions can build with AWS to scale APIs on demand, pay only for what they consume, and build modern serverless architectures. Download this report and discover how financial institutions are offering innovative contextual finance solutions on AWS.

How cloud enables banking transformation towards contextual finance

01 April 2021

Companies adapting to the new normal brought on by the pandemic have been forced to undergo a digital shift toward contactless payments and a surge in online transactions. As a result, many are looking to Banking-as-a-Service (BaaS) to enable innovative financial and payments services that can be embedded into digital apps and products. Further, the deployment of BaaS enables a faster time to market for more personalised propositions.

The Future of Cloud 2021

26 March 2021

Evolving the Financial Services Industry. As consumers have come to expect the same experience of their financial services providers that they have elsewhere in their lives, traditional financial institutions (FIs) are increasingly looking for ways to improve customer service and deepen engagement. For many, optimising the digital experience for customers is a priority. From leveraging omni-channel communication strategies to creating more personalised experiences, the goal is to deliver the right message, at the right time, in the right channel. Fintech firms have been faster to innovate. Many, in fact, were created to address consumer dissatisfaction with traditional financial services providers. However, many players across the banking, payments and capital markets industries such as Barclays, Broadridge, Capgemini, Calypso, Collibra, DBS, FICO,, Global Payments, HSBC, IHS Markit, Kx, Mambu, Nasdaq, Numerix, OakNorth, Singapore Exchange, Solarisbank, Standard Chartered and Trading Technologies are increasingly turning to the cloud as a way to accelerate their digital transformation for customers. Shifting away from legacy infrastructure reduces time and resource constraints and financial institutions can innovate and respond to customer needs with the cloud. Banks, payments services providers, and capital markets firms must take advantage of the cloud’s greater elasticity, flexibility and cost-effectiveness. Download your copy of the report below to learn more. Part of the Finextra Cloud Series, in association with Amazon Web Services (AWS).

Embracing the New Paradigm of Cloud Migration to Future-Proof Payments Technologies

07 January 2021

A Finextra Research Impact Study in Association with Global Payments and Amazon Web Services (AWS). Consumer expectations, behaviour and payment preferences are and will continue to evolve at an accelerated rate. As a result, payments processors and issuing banks must ensure they are technology-enabled and software-driven so that the financial products and services they provide are future-proofed, ready for today and tomorrow. In an attempt to keep pace with competitors, banks must recognise that collaboration between payment players and cloud service providers will help drive frictionless, more secure digital experiences for consumers. This is of paramount importance in a world where resilient commerce through contactless interactions – at scale – is key. However, some institutions are still offering traditional premise-bound services and aren’t taking advantage of the innovative technologies available in market today. In order to remain relevant, these organisations must be flexible, accelerate speed to market and provide best-in-class experiences for their customers. According to a McKinsey survey, banks that use technology to transform customer experience have increased customer satisfaction by 15 to 20%, reducing cost to serve by 20 to 40%, and boosting conversation rates and growth by 20%. From extending their footprint into new products, services and markets, to innovating and creating next generation, digital focused banking solutions, the goal for financial institutions is to meet the demands of the connected, digital world and keep pace with ever-changing consumers’ preferences. Against a backdrop of new payments startups, legacy players don’t have the benefit of starting from scratch but do have the advantage of a large customer base. While cloud technology can support digital transformation, financial institutions, retailers and new market entrants will also realise the benefits of a collaboration between the likes of Global Payments and AWS and how it will lead to more secure, reliable and innovative solutions for the payments industry at scale. Download your copy of the Impact Study below to learn more.

Future-proofing payments technology with cloud migration

07 January 2021

Consumer expectations, behaviour and payment preferences are and will continue to evolve at an accelerated rate.

Automation, Resiliency and Agility: Key Drivers of Cloud Adoption and Strategy

11 December 2020

A Finextra Research Impact Study in Association with Calypso Technology and Amazon Web Services (AWS). Cloud adoption for financial services firms has been on the rise over the past few years - a trend that has been further bolstered by the wave of digitisation brought on by the global pandemic. A survey of financial services firms’ cloud attitudes conducted by bobsguide in 2020 revealed that nearly 83% of participants were already working on the cloud, with 50% expanding their use and the rest of the respondents having already completed their cloud migration. Financial institutions in the global capital markets space are facing unprecedented regulatory scrutiny, IT rationalisation, and cost pressures while still having to deliver value to their clients, which has shifted the spotlight on cloud from innovative or experimental initiatives to mission-critical workloads that can be made leaner and less expensive to maintain. While cloud has become a common mode of delivery for innovative capital markets firms, recent financial pressure, global macro-economic uncertainty and the need to respond to regulatory change has led to cloud adoption and migration being integrated and considered a crucial part of a financial institution’s business strategy in optimising mission-critical workloads with cloud technology. In this impact study, we discuss the key drivers of cloud adoption, as well as strategies that ensure successful outcomes for customers who want to make the move to cloud. Download your copy of the Impact Study below to learn more.

Shifting to mission-critical: What are the key drivers of cloud adoption?

11 December 2020

Cloud adoption for financial services firms has been on the rise over the past few years - a trend that has been further bolstered by the wave of digitisation brought on by the global pandemic.