FSI Services Spotlight Blog Series

Specific guidance to accelerate AWS service approval for Financial Services Industry

The FSI Service Spotlight Blog series aims to provide financial services customers a deep dive into the following five key considerations of a particular AWS cloud service. This will allow financial services customers to accelerate realization of business value from consuming the particular AWS service—from developing personalized digital experiences, breaking down data silos, launching new products, driving down margins for existing products, to proactively addressing global risk and compliance requirements. The five key areas for consideration include:

        1. Achieving compliance

        2. Data protection

        3. Isolation of compute environments

        4. Automating audits with APIs

        5. Operational access and security

Each of these five areas will include specific guidance that can help you streamline service approval for the particular AWS service, which may need to be adapted to your specific use case and environment. We can help you navigate the approval process of the wide range of AWS services available, so you can offload undifferentiated heavy lifting to AWS and focus on your core business objectives.

Questions? Email us.


Spotlight 1: Featuring Amazon SageMaker Notebook Instances

Financial institutions are increasingly adopting Amazon Machine Learning services to easily build and train machine learning models to effectively detect online payment fraud or build a recommendations platform that provides more value to customers and enables data scientists to move projects from design to production quickly. An Amazon SageMaker notebook instance is a machine learning (ML) EC2 instance running the Jupyter Notebook App. SageMaker manages creating the instance and related resources for you.

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Spotlight 2: Featuring Amazon Comprehend

A common use case for Amazon Comprehend for financial institutions is to analyze call transcriptions from their call centers to gather insights into their customer calls. This allows a financial institution to uncover common trends, personalize messages and offers, and ensure call center staff have all the available information on a given client to provide the best experience.

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Spotlight 3: Featuring Amazon Textract

Amazon Textract is a fully managed AI service that extracts text, handwriting, and other data from scanned documents that goes beyond simple optical character recognition (OCR) to identify and understand the relationship of the data from forms and tables. In financial services, Financial institutions are leveraging Amazon Textract for a number of workloads: to automate the loan applications processing and claims processing pipeline, resulting in a great customer experience while increasing operational efficiencies.

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Spotlight 4: Featuring Amazon Transcribe

Amazon Transcribe uses a deep learning process called automatic speech recognition (ASR) to recognize speech in audio files and transcribe them into text. Financial services customers can use Amazon Transcribe to convert speech to text and to create applications that incorporate the content of audio files. Managed call centers such as Contact Lens for Amazon Connect builds on Amazon Transcribe to generate call transcripts and provide accurate call transcriptions, redaction of sensitive data, and automated call metrics to determine the effectiveness of the contact center.

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Spotlight 5: Featuring Amazon Lex

Amazon Lex, an AI service for building conversational interfaces for applications using voice and text, is powered by the same technology as Amazon’s voice assistant Alexa and enables any developer to build conversational bots quickly, with no deep learning expertise necessary. By using an Amazon Lex bot, financial institutions can provide their clients 24/7 availability to get questions answered and tasks performed without needing to speak to an agent.

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Spotlight 6: Featuring Amazon Athena

Amazon Athena is a serverless interactive SQL query service that enables customers to query large volumes of data stored on Amazon Simple Storage Service (Amazon S3) or in other sources without the need to manage the underlying infrastructure or having to set up complex ETL processes. Customers simply register their preexisting S3 datasets as Tables in Athena’s underlying metastore and can immediately begin querying it using standard SQL. With the rise in prevalence of data lake and lakehouse architectures, Athena has become a popular option for FSI customers for interactive SQL analytics.

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Spotlight 7: Featuring Amazon EKS

Amazon Elastic Kubernetes Service (Amazon EKS) gives you the flexibility to start, run, and scale Kubernetes applications in the AWS Cloud or on-premises. Amazon EKS helps you provide highly available and secure clusters and automates key tasks such as patching, node provisioning, and updates. Customers such as Intel, Snap, Intuit, GoDaddy, and Autodesk trust EKS to run their most sensitive and mission-critical applications.

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Spotlight 8: Feature Amazon ECS and AWS Fargate

Amazon Elastic Container Service (Amazon ECS) is a fully managed container orchestration service that helps you easily deploy, manage, and scale containerized applications. It deeply integrates with the rest of the AWS platform to provide a secure and easy-to-use solution for running container workloads in the cloud and now on your infrastructure with Amazon ECS Anywhere.

Amazon ECS leverages serverless technology from AWS Fargate to deliver autonomous container operations, which reduces the time spent on configuration, patching, and security. Instead of worrying about managing the control plane, add-ons, and nodes, Amazon ECS enables you to rapidly build applications and grow your business.

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Spotlight 9: Featuring Amazon Kendra

Amazon Kendra is an intelligent search service powered by machine learning. Amazon Kendra reimagines enterprise search for your websites and applications so your employees and customers can easily find the content they are looking for, including business documents, corporate glossaries, and internal websites, even when it is scattered across multiple locations. Amazon Kendra provides native and partner-developed connectors for popular data sources like Amazon Simple Storage Service (Amazon S3), SharePoint, ServiceNow, OneDrive, Salesforce, and Confluence so you can easily add data from different content repositories and file systems into a centralized location.

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Leading companies in the financial services industry are already using AWS. Contact our experts and start your own AWS Cloud journey today.