BBVA migrates its investment banking platform to the cloud with AWS
Spanish banking giant BBVA has tapped Amazon Web Services (AWS) to migrate its investment banking platform to the cloud.
BBVA takes its investment banking platform to the AWS cloud
BBVA says the AWS platform “provides greater computing power” to make calculations related to financial markets faster and more accurate.
The firm says modern corporate banking requires an increasing amount of “complex and precise calculations” to be made to meet customer demands.
This is done through High Performance Computing (HPC), which allows millions of calculations to be performed at the same time, resulting in “more accurate and faster” valuation processes, the bank adds.
BBVA chose AWS for its ability to handle HPC workloads and to help provide the necessary infrastructure to improve these computations. It adds that the collaboration will result in shorter timeframes to perform complex valuation and risk operations.
“In addition, the use of this new platform and the pay-per-use model will allow BBVA to significantly reduce service costs,” it adds.
AWS’ infrastructure is also five times more energy efficient than an average European enterprise data centre, according to 451 Research, which BBVA says will help it become more energy efficient.
