More than just a buzzword.
The classic thought process regarding IT resources for companies is undergoing fundamental change thanks to cloud technology. Many financial service providers have to consolidate their IT infrastructure to reduce operating costs and, at the same time, to be able to implement new business models and services. Cloud technology has now become a standard solution for banks and financial service providers, who benefit from this technology in a myriad of ways.
Cloud technology enables greater flexibility in the implementation of innovations – while sustainably reducing operating costs and, at the same time, increasing transparency of costs. It offers a needs-based scalability of server capacity and ensures optimal collaboration between teams at remote locations. Depending on the cloud service model selected, the cloud transformation can provide rapid server availability and contribute to improving performance and productivity.
In addition, companies can increase their competitiveness through more flexibility and lower capital expenditure. Carefully selecting the best-suited cloud landscape is essential.
We will help you define an appropriate cloud strategy – adapted to your individual requirements and your digital strategy. We develop and optimise cloud-based applications to respond more quickly to the challenges of changing business models and to reduce expenses. Our approach to consulting is focused on the business and technical support of our clients in the implementation of their cloud transformation projects based on solutions such as Google Cloud, AWS and MS Azure.
- Development of a suitable and sustainable cloud strategy
- Evaluation and selection of suitable cloud solutions
- Coordination and execution of outsourcing projects
- Negotiation and management of the respective solution vendor
Outsourcing to the Cloud
Trading and settlement systems like Calypso can often be operated with lower costs using cloud-based computing and storage capacities than on-site. The business case was clear for a certain global player in the insurance industry.
Feasibility analysis for the conversion of functions and processes to the Cloud.
Firstwaters supports clients in analysing the feasibility of planned migrations to the cloud and provides advice with regard to the selection of an appropriate Cloud strategy.
Outsourcing to the Cloud
The quarterly evaluation of insurance portfolios as required by supervisory authorities uses up significant computing capacities – albeit briefly for each respective instance. Migrating the infrastructure on which the Calypso trading platform is running to the cloud will allow, in future, the evaluation capacity to be increased fourfold at short notice with the press of a button. Because the system makes due with much fewer resources at other times, this allows the generation of significant savings without any loss of quality, reliability or user-friendliness of the system.
The biggest challenge of the migration project lies in providing the documentation demanded both internally as well as by supervisory authorities with regard to the security and compliance of the new set-up. At the moment, preparations are under way for the launch at the beginning of next year.
Practiclity studies for transforming functions and processes into the Cloud
The goal of our clients is to reduce the costs of their IT infrastructure while also ensuring sufficient system capacities and computing performance for the specific need. Cloud solutions are used to achieve this level of flexibility.
We support the migration of Capital Markets applications to the Cloud – both the test as well as production iterations. In this regard, we support the transformation of existing or new architectures and business processes, as well as their implementation in the Cloud. In addition to the technical requirements, the complex legal, regulatory and organisational factors have to be taken into account.