The financial industry is experiencing a paradigm shift from traditional systems to cloud-based technologies and FinTech. This requires new ways of thinking about data and using it effectively. FinSpace@AWS is an easy-to-use solution that allows you to securely link your entire organization’s data sources, process them in real-time and store them securely on AWS so that they can be used by your teams to find insights and make decisions.
FinSpace@AWS is a complete solution to easily and securely make any financial data available for further processing and analysis, especially in risk management and regulatory reporting. FinSpace@AWS provides users with the necessary tools to perform regulatory reporting on the fly or create standardized reports. It’s up to you how you want to use this information: as an aggregated view of your entire balance sheet or as one specific asset class (e.g., loans).
Data is the foundation of every financial institution’s business. It is the raw material for all financial institutions and is core to their success. These companies rely on large amounts of data from various sources. They need a way to manage it effectively to make better-informed decisions that positively impact their bottom line.
With FinSpace@AWS, you can access enterprise-grade storage solutions that help you manage the massive amounts of data you collect through your digital channels—and transform them into actionable insights.
One of the key benefits of using AWS as a platform is its extensive library of services. These services can provide additional functionality for your application or even replace parts of your application with their implementations.
In this section, we will examine some popular AWS services that apply to FinSpace applications, including how you can use them in conjunction with FinSpace.
Python is an object-oriented programming language that can easily be used to build web applications. Django, which is an open-source web framework written in Python, supports MVT architecture, and it uses the concept of an ORM (object-relational mapping) to help you map code to databases.
In addition, AWS Lambda lets you run python code without having to provision or manage servers. You simply upload your code, and Lambda takes care of everything else, including running the code as and when needed, scaling out as per demand, auto-scaling, etc.
FinSpace@AWS links all your data sources processes them, and stores them securely on Amazon Web Services (AWS) so that they can be used by your teams to find insights and make decisions.
Your bank partners might have a different opinion about how to do things, but with FinSpace@AWS, you can choose the best for yourself.
FinSpace@AWS is an enterprise-grade solution that enables you to work with your data and make it available to your teams securely. It allows you to process financial data more efficiently and safely than ever before, so you can stop worrying about your compliance requirements and focus on improving your business with the help of fast insights.