Why Financial Service Companies Should Leverage AWS

Nowadays, data has become the critical factor for companies to improve work efficiency and reduce costs. For example, the retail industry could use data to get more understanding about the status of its product storage that can know when replenishment is needed. The E-Commerce industry could use data to find its target audience and spend its budget where most needed. The financial industry could use data to transform the way they work and even achieve near real-time monitoring, what’s more, to manage, predict and avoid the risk of bad debt.

The financial industry can achieve a variety of accomplishments through the assistance of AWS. For instance, a fund management company needs to run many daily jobs with significantly large data to get investment insights. The company could benefit from using AWS Glue or even a self-hosted Apache Hadoop ecosystem (AWS EMR) to achieve the same objective. Suppose the company envisions an easy-to-manage visualization tool with a wide variety of chart selections. In that case, AWS QuickSight could be handy due to its low pricing and no-infrastructure management. The AWS services are just like LEGO bricks that individual services could be combined to achieve the business logic.

AWS does provide not only powerful services but also offers high availability, security, and disaster recovery. The financial industry needs to ensure its data is saved under high-level security and high availability, which can be done just a few clicks on AWS. For security, AWS has been validated by third-party auditors across ISO, PCI SOC, and other financial-related certifications. For high availability, AWS provides multiple regions and availability zones to choose from, and most of the AWS services have the option to be cross-region or multi-AZ.

With AWS, the financial industry could easily create an efficient, secure, and scalable system and say goodbye to costly on-premise machine maintenance.

2021-12-08T14:39:57+00:00 2021/06/06 |Insights|