BMO and FICO Transform Financial Services with AWS

Citizens Bank wanted to deliver faster banking experiences and personalized offers for its customers, but innovation was challenged by its costly legacy platform. A collaboration with AWS Partner MongoDB allowed the bank to migrate to a modern tech stack by building a custom data cache on top of its legacy platform. The new architecture with the data cache transformed operations, reduced costs, enhanced access to data to expedite processing tasks, and improved data availability. In addition to delivering customer behavior insights, the new setup also optimized resources, supporting innovative and personalized experiences for Citizens Bank customers.

Israel-based Logz.io improved its FinOps practice with the help of AWS Partner Finout and was able to allocate 98 percent of its workloads and cut 30 percent of its total spending on Amazon Web Services (AWS). Finout’s platform gives its customers access to granular data on AWS, or any other cloud expenditure. It allows different departments to build simple dashboards to give all parts of the business a better understanding of their cloud spend.

Muthoot Fincorp, one of India’s leading non-bank financial companies, provides a wide array of financial services to its customers. It was transforming, reading, and storing the data related to these services in a way that was inefficient and costly, causing a strain on the company’s resources. With a solution from AWS Partner Ganit, Muthoot Fincorp was able to optimize its data storage setup and workflows to improve processing speeds and significantly lower costs.

Switzerland-based insurance company SwissCaution consolidated around 25 on-premises databases and its back-office insurance applications into a single platform called msg Unified Administration Platform (msg.UAP) on Amazon Web Services (AWS). SwissCaution can now deliver new insurance products faster and at less cost. The scalable and extensible cloud-based solution supports SwissCaution’s future growth and allows its partners to connect to its back-office processes and gain added-value functionality for the first time. The platform also complies with relevant security and financial sector regulations.