Spanish financial group BBVA transfers its complex investment banking operations to Amazon Web Services (AWS).
Source: Pixabay.com
AWS high-performance computing is necessary to speed up the processing of numbers in complex calculations in financial markets. Amazon’s technology solutions allow you to perform millions of calculations simultaneously. This provides more accurate and faster assessment processes for institutional and corporate clients.
The integration of investment banking operations into AWS will provide traders, data scientists, and analysts with the flexibility needed to adapt cloud technologies to real-time needs and demand at any moment. The result of adaptation will be the shortest possible time for conducting assessments of complex operations or risk scenarios.
BBVA states that a pay-per-use platform will significantly reduce the number of costs associated with maintenance.
Enrique Checa, Global head of Architecture and Infrastructure at BBVA CIB, said that the flexibility, scalability, and capabilities provided by AWS cloud solutions will allow the financial group to make a technological leap and technically align its activities with the advanced trends in the industry.
In November 2020, BBVA moved its market data distribution network to Amazon Web Services. As a result of this solution, clients were provided with a large-scale platform for stock markets that can process large amounts of data.
The platform, dubbed BBVA C-Fit, combines such technologies as Amazon Elastic Kubernetes Service and Amazon Managed Streaming. These technologies provide direct access to real-time market data via the cloud.
BBVA was founded in May 1857. Branches of the financial group, except for Spain, are also located in North and Latin America, Romania, and Turkey. As of 2018, BBVA’s assets amounted to 676 billion euros. The service network consists of almost 8 thousand branches.
As we have reported earlier, Amazon Web Services teamed up with global IoT carrier.
Serhii Mikhailov
Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.
