Amazon Web Services (AWS) has launched Amazon FinSpace, an industry cloud offering aimed squarely at helping finance organisations efficiently prepare and analyse data.
The purpose-built analytics service ‘aggregates, catalogues, and tags data across an organisation’s data silos’, enabling the data to be easily searchable across the entire company. This is achieved, in part, through a purpose-built managed Apache Spark analytics engine, with more than 100 ‘data transformations’ common in the capital markets industry.
Beginning possibly the longest paragraph CloudTech has ever seen committed to a press release, AWS explained the rationale for Amazon FinSpace. It also exemplifies the complexity of financial services moving to the cloud.
News Source : CloudTech