AWS for Industries

Category: Financial Services

Liveness Detection to Improve Fraud Prevention in Financial Institutions with Amazon Rekognition

Facial recognition is one of the common forms of biometrics employed across industries for fraud prevention. Fundamentally, facial recognition uses algorithms to distinguish an individual user’s unique features from those of similar faces in a “gallery” lineup. Facial biometrics are increasingly popular with financial institutions that are trying to balance between enhanced fraud prevention and a high-quality user experience. […]

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Supporting digital signature and secure message transmission with AWS KMS and AWS Secrets Manager for Brazilian Instant Payment System

As discussed in the previous blog, the new Brazilian Instant Payment System (PIX) aims to speed up payments messaging and the availability of final funds to the beneficiary. The PIX results in reduction of costs, increasing security and improving the customer experience. AWS provides the necessary certifications and compliance standards for financial institutions to comply […]

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How payments companies can use transaction data to support small merchants

What if? I used to get lunch from a small café near my old office, and I would get the same sandwich every time I was there. Eventually, the staff behind the counter would recognize me when I got in line. With a subtle nod of confirmation, they’d start making and toasting my sandwich so […]

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How cloud increases flexibility of trading risk infrastructure for FRTB compliance

The Basel Regulatory Framework strives for a strict boundary between financial institutions’ trading books and banking books to prevent regulatory arbitrage. The Trade Book element of these regulations (the Fundamental Review of the Trading Book or FRTB) seeks, in exchange for more rigorous risk modeling, to strengthen trade risk management allowing institutions to optimize the […]

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Supporting digital signature and secure message transmissions for Brazilian Instant Payment Systems with AWS CloudHSM

Brazilian financial institutions such as banks, investment brokers, and insurance companies are authorized to use cloud services, as long as they comply with applicable legal and regulatory requirements. AWS has a Compliance Center that offers financial institutions a central location to research cloud-related regulatory requirements and how they impact your industry. For example, the Resolution 4658 provides for the cyber […]

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Accessing Japan Exchange Group (JPX) arrownet through AWS

We often hear the term “undifferentiated heavy lifting.” This refers to resource-intensive work that needs to be done, but doesn’t differentiate you from your competitors. Building servers and applying security patches to your OS are examples. Such tasks take away time, talent, and capital from higher-value initiatives that set your products and services apart. At […]

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Improving fraud prevention in financial institutions by building a liveness detection architecture

Facial recognition is an important tool for identifying a person. Facial recognition systems are already popular worldwide and are used to prevent fraud, particularly in financial institutions such as banks and insurance companies. Although facial recognition systems are relatively new, counterfeiters have already developed ways to bypass them including impersonation, or with the use of […]

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How to improve FRTB’s Internal Model Approach implementation using Apache Spark and Amazon EMR

The Fundamental Review of the Trading Book (FRTB) is a set of proposals by the Basel Committee on Banking Supervision for market risk capital calculation for banks. This new set of rules (often referred to as “Basel IV”) is intended to create a more resilient market and capture risk adequately for stressed market conditions. It […]

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Increasing flexibility: Capital Markets firms in the cloud adapt more quickly

In his post titled “Dealing with disruption: How financial institutions are using cloud technology to respond to COVID-19 and reshape the industry,” Scott Mullins, Head of Worldwide Financial Services Business & Market Development for AWS, discussed how COVID-19 has impacted the normal course of business in the Financial Services industry. For Capital Markets firms, scaling […]

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How payment companies are using cloud technology to respond to shifts in consumer behavior

COVID-19 has upended the way consumers interact with their financial institutions on an unprecedented scale and speed as detailed in the blog post authored by Scott Mullins, Managing Director of Worldwide Financial Services Business & Market Development for AWS, and the payments industry is no exception. The global pandemic has accelerated the growth of digital […]

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