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Bank of Montreal (BMO), a 200-year-old financial institution and eighth-largest bank in the Americas, selected AWS PartnerFICO and Amazon Web Services (AWS) to modernize its credit decision. Facing challenges with legacy, on-premises infrastructure, BMO transitioned to cloud services through FICO’s Platform on AWS. This move has provided a secure, scalable environment and eliminated issues with updates, offering seamless, version-free upgrades. The partnership has enabled faster, lower-cost changes, reduced data processing times, and allowed for enhanced data integration—all driving better, quicker service for BMO’s 12 million customers.
This partnership with AWS allows us to have a real secure environment that, together with the FICO Platform functionalities, is a win-win."
Daniel Melo Sr. Partner for Partner Solutions, FICO
About Customer BMO
BMO is headquartered in Chicago, IL and is the 8th largest bank in North America by assets, we provide personal and commercial banking, global markets and investment banking services to 13 million customers. We’re proud to be fueling progress for individuals, families and businesses across North America.
About AWS Partner FICO
FICO is a leading analytics software company, helping businesses in 90+ countries make better decisions that drive higher levels of growth, profitability and customer satisfaction.
Legacy technologies can be challenging to maintain and integrate with modern applications, channels, and architectures. To comply with open banking regulation, OpenLegacy helped Bank Leumi initiate a program that would transform it into an API-first organization by adapting its existing legacy mainframe systems.
Profectus Capital Private Limited, a financial institution that caters to small-and medium-sized businesses (SMBs), partners with many fintech organizations to make the loan disbursement journey digital, seamless, and quick. With its entire technology stack on AWS, the next step for Profectus was to consolidate data from multiple systems for a comprehensive view of loan applicants, business profiles, and loan collaterals. Working with AWS Partner Noventiq, Profectus developed a Data Lake on AWS that uses AWS Glue, Amazon S3, and Amazon Redshift. As a result, Profectus now has an instant, 360-degree view of insights across multiple systems to help streamline the decision-making process around loan sanction.
Banco Master, a Brazilian bank with zero onsite branch locations, is known for having a solution for every phase of a person’s life. With this in mind, a comprehensive solution for data protection, regulatory compliance, and threat visibility that would ensure continuous operations is of utmost importance. Collaborating with AWS Partner Fortinet, Banco Master integrated FortiGate Next-Generation Firewall (NGFW) into its security environment for real-time threat detection and response. This resulted in reduced operational costs, 11 million threats blocked daily, and an assurance of uninterrupted service delivery.
truID worked with AWS Partner Levi9 to modernize its cloud-based app. Using Amazon Web Services (AWS) it estimates it has cut cloud costs by 60 percent and reduced the development time for new features by 50 percent. The company, which provides financial services companies with authenticated consumer banking data to grant loans, can now provide customers with the exact set of financial data they require without having to manually reconfigure its application. Using AWS Lambda and Amazon EventBridge it can also scale easily when loan applications peak at the end of each month.
Organizations of all sizes across all industries are transforming their businesses and delivering on their missions every day using AWS. Contact our experts and start your own AWS journey today.
