BBVA favours Amazon Web Services for cloud drive
BBVA has reached a global agreement with Amazon Web Services (AWS) as it looks to cloud computing to boost its digital banking services.
The agreement, which is part of a series of accords that the group is making with providers, turns AWS into its “preferred” cloud infrastructure services provider.
AWS will execute the migration of workloads to the AWS Cloud, and BBVA says they are both working on a cloud-based solution. BBVA says its platforms currently manage more than 542 million transactions a day, compared to 90 million in 2006. In 2017 they will be prepared to manage one billion transactions a day in real time.
Ricardo Moreno, global head of BBVA engineering, says it “must be prepared to face an exponential transactions growth and cloud computing technologies have much to contribute in this direction”.
With today’s agreement, BBVA is set to increase its collaboration in three areas – namely the AWS cloud ecosystem; a “Cloud Community” to improve knowledge sharing; and providing feedback to AWS.
BBVA has already been using AWS to run its analytics application for retailers Commerce 360 (currently available in Spain), and plans to keep expanding the use of AWS.
Almost cloud nine
AWS has had a busy year.
Singapore-based DBS Bank signed an agreement to use its cloud technology. The bank envisages shifting up to 50% of its computer workload to cloud within a two-year period.
Corezoid, a US-based provider of a Platform-as-a-Service (PaaS) solution to banks, has announced that its product can now be delivered on the AWS cloud. The first taker is PrivatBank in Ukraine.
In the UK, OakNorth has become the country’s first cloud-based bank by using AWS.
Avox Data Services, a provider of legal entity reference data and a subsidiary of the Depository Trust & Clearing Corporation (DTCC), recently migrated its data servers to AWS.
However, a technical outage of the AWS cloud left many customers of Australian banks unable to use cards, ATMs and Eftpos terminals. I guess every cloud has an unforgiving timing.