AWS Partner Network (APN) Blog

Introducing the AWS Financial Services Competency

According to a series of new IDC Financial Insights Worldwide IT Spending Guides, financial services IT spending will reach almost $480 billion worldwide in 2016 with a five-year compound annual growth rate (CAGR) of 4.2%. And more and more Financial Services firms are looking to meet and exceed their business needs by embracing a cloud-based strategy.  “This year, we are excited to introduce a different view of U.S. financial services spending on 3rd Platform technologies – cloud, mobile and big data/analytics,” said Karen Massey, Senior Research Analyst, IDC Financial Insights. “These foundational components of digital transformation (DX), have significantly impacted IT budgets in 2016. Forward thinking financial institutions understand the value of leveraging these technologies to better meet the demands of performance, efficiency, compliance, and competition.”[1]

Through the AWS Competency Program, customers are able to easily find and connect with APN Partners who can help them take advantage of AWS. Today, I’m excited to tell you about one of two new AWS Competencies we launched at the AWS Global Partner Summit at re:Invent, the AWS Financial Services Competency.

Announcing the AWS Financial Services Competency

The AWS Financial Services Competency is a part of the AWS Competency Program and is now one of many other vertical and business application Competencies available to our customers today.  The AWS Financial Services Competency’s purpose is to help customers identify and connect with industry-leading Consulting and Technology APN Partners with solutions for banking and payments, capital markets, and insurance.

To become an AWS Financial Services Competency Partner, APN Partners must demonstrate expertise on AWS within the Financial Services industry and meet a number of requirements, such as providing use case-specific public customer references, as well as successfully complete an audit of their Financial Services solution or practice. Our top priority is to ensure we’ve set a high bar to become a member of the AWS Financial Services Company, so that we can enable our Financial Services customers to easily find APN Partners with proven experience to help them meet their specialized use cases on AWS. To learn more about the requirements to apply, click here.

We have deep confidence in the abilities of our Financial Services Competency Partners to help Financial Services customers meet their needs on AWS. “Accenture is proud to be one of the first APN Partners to achieve AWS Financial Services Competency status,” says Cathinka Wahlstrom, Senior Managing Director – Financial Services, North America. “Our financial services customers need to stay agile, at the same time ensuring they are operating in a secure and compliant environment. Accenture is dedicated to helping customers in the financial services industry achieve their business goals by leveraging the security and scalability of the AWS Cloud.”

As an AWS Financial Services Competency Partner, you become eligible for a number of business, technical, and marketing benefits, including:

  • The AWS Financial Services Competency logo to use in your marketing materials
  • Public designation as an AWS Financial Services Competency Partner throughout the AWS website
  • Designation as an AWS Financial Services Competency Partner in the AWS Partner Solutions Finder
  • Preferred access to Market Development Funds
  • Selective eligibility for inclusion in future AWS announcements regarding AWS Competencies and Financial Services on AWS
  • Selective eligibility for inclusion in APN partner spotlights (such as quotes, testimonials, videos, etc.)
  • Selective eligibility for AWS Competency subject matter webinars, roadshows, and events

Financial Services Categories and Launch Partners

Congratulations to our launch AWS Financial Services Competency Partners in the following categories:

Technology Partners:

Risk Management – Solutions that are helping financial institutions identify, model, and assess risk, ensure monitoring & compliance with the industry regulations, or help in surveillance or fraud monitoring. Examples include companies in the market risk, credit risk, regulatory risk, compliance risk, fraud & cybersecurity, and operational risk.

  • FICO
  • FIS-Prophet
  • NICE Actimize

Core Systems – transaction processing systems for banking/mortgage/payments, capital markets/brokerage/asset management, or the property & casualty insurance industry. Examples include core banking systems, core trading systems, core insurance systems, trade processing systems, and reconciliation systems.

  • Avoka
  • Calypso
  • Corezoid
  • EIS Group
  • Guidewire
  • Mambu
  • Moven

Data Management– platforms providing market and reference data or data processing, pricing or financial analytics solutions.

  • IHS Markit

Consulting Partners:

  • 2nd Watch
  • Accenture
  • Capgemini
  • Cloud Technology Partners
  • Cloudreach
  • Cognizant
  • Infosys
  • REAN Cloud
  • Sopra Steria
  • Wipro

Learn More

Hear from two of our launch AWS Financial Services Competency Partners, EIS and IHS Markit, as the trends that they’ve observed as their customers migrate to AWS, and the value of the AWS Financial Services Competency:

EIS:

IHS Markit:

Want to learn more about the different Financial Services Partner Solutions? Click here.

[1] Financial Services IT Spending to Reach $480 Billion Worldwide in 2016, According to IDC Financial Insights, 27 April 2016, http://www.idc.com/getdoc.jsp?containerId=prUS41216616