Financial
Services

The financial services (FS) industry is a highly saturated, highly competitive market. FS customers expect human-centric, personalized experiences.

To meet industry expectations, financial service companies must manage data and risk when leveraging advanced technology, on board new solutions to gain insights, and deliver truly personalized experiences for their end-customers.

Businesses must remain compliant and cost-efficient when scaling for new markets and developing new business streams.

  • What is happening?

    • Cloud enablement
    • Augmented analytics
    • Digital transformation
    • Customer retention
    • Regulation compliance
    • Internal optimization
    • Open banking

  • Why is it happening?

    • Evolving new revenue streams
    • Highly saturated market
    • Strict regulatory compliance
    • Attracting next wave of customers (Millennials, GZ)
    • Established market distribution
    • Hight volume to be delivered in short time frame
    • Talent growth and engagement

  • What are the objectives?

    • Leverage data to gain insights
    • Future proof the business
    • Be innovation driven
    • Enhance customer experiences
    • Stay compliant and secure

AREAS OF FS FOCUS

Transactions and payments services

Payment companies have carefully monitored the rise of FinTech and the implications to their industry. Companies are heavily investing in cloud technology, with 90% planning to adopt cloud as part of their production system by 2021. 

Banking and asset management

Most bankers see personal loans (64%) and personal finance (50%) most at risk in moving to a FinTech company. This means that both personal loans and personal finance are two segments that are most likely to be first in a row to be overtaken by FinTech companies, and Banks as classical legacy financial institutions will lose their monopoly in these areas, passing this part of the business to disruptors (whom FinTechs are).

AWS SERVICES FOR FS INCLUDE

  • Amazon
    EMR
  • Amazon
    RDS
  • Amazon
    Redshift
  • Amazon
    Elasticsearch Service
  • Amazon
    DynamoDB
  • Amazon
    Cognito
  • Amazon
    SageMaker
  • Amazon
    S3
  • Amazon
    EC2
  • Amazon
    EKS
  • Amazon
    ECS
  • AWS
    Lambda
  • AWS API
    Gateway
  • AWS
    WAF
  • AWS
    CodeBuild
  • AWS
    CodeCommit
  • AWS
    CodeDeploy
  • AWS
    CodePipeline
  • AWS
    Cloud
    Formation
  • AWS
    Config
  • AWS
    OpsWorks

AWS TECH for FS OFFERINGS

  • THE CHALLENGE

    Inaccurate executive reporting based on the cross geo and business streams financial data

    SOFTSERVE OFFER

    Dashboard solution for generating ad-hoc executive reports based on multiple business streams and transitional data sources—near-real time

    AWS TECH

    • Amazon S3
    • Amazon RDS
    • Amazon Elasticsearch
    • Amazon EMR
    • Amazon Redshift
    • Amazon Cognito
    • Amazon API Gateway
    • Amazon Lambda
    • Amazon EKS
    • Amazon ECS

  • THE CHALLENGE

    High costs for storing redundant and dark data which are used by risk management function at banks

    SOFTSERVE OFFER

    Machine learning (ML) solution for detecting redundant and outdated files based on the file's meta-data as fundamental for cross-organization and business units data governance

    AWS TECH

    • Amazon Forecast
    • Amazon SageMaker
    • AWS SDK

  • THE CHALLENGE

    Extremely time consuming and human factor risk associated with manual data extraction from diverse-origin digital documents for sales and compliance functions

    SOFTSERVE OFFER

    Solution for on-demand access to customizable reports with up-to-date and accurate sales and compliance data extracted and aggregated from divers-origin scanned and digital documents for decisions making

    AWS TECH

    • Amazon S3
    • Amazon RDS
    • Amazon Elasticsearch
    • Amazon EMR
    • Amazon Redshift
    • Amazon Cognito
    • Amazon API Gateway
    • Amazon Lambda
    • Amazon EKS
    • Amazon ECS

  • THE CHALLENGE

    Non-standardized CICD process for third-party, developed back-office applications, decreasing deployment time from months to days

    SOFTSERVE OFFER

    Design cloud-based infrastructure to enable agile CICD environment to migrate existing back-office applications to cloud for deployment time decrease and scaling

    AWS TECH

    • AWS CodeBuild
    • AWS CodeCommit
    • AWS CodeDeploy
    • AWS CodePipeline
    • AWS OpsWorks
    • AWS CloudFormation

  • THE CHALLENGE

    High load on customer support services which result in low NPS and banking compliance issues

    SOFTSERVE OFFER

    Leveraging smart algorithms and NLP for chatbots and helpdesk support for data-driven insights and compliance to enable real-time decision-making and risk mitigation

    AWS TECH

    • Amazon Comprehend
    • AWS Chatbot
    • Amazon SageMaker
    • AWS SDK

AWS Case Studies

  • gotransverse_logo
    Billing service

    Using AWS and a multi-account strategy, the goTransverse and SoftServe teams implemented a multi-tenant SaaS solution with the ability to quickly develop and regularly update customers’ services and components without significant issues.

  • gotransverse_logo
    Secure Payment

    An architecture assessment of existing systems identified process bottlenecks in the current cloud-architecture. During the initial phase, SoftServe defined AWS+Data architecture and implemented MVP.

  • Nufin_logo
    Cash flow mangement

    Nufin Data on SoftServe chose AWS Lambda because it enabled code to run without provisioning or managing servers, which eventually presented a code storage issue. SoftServe then re-configured Lambda layers according to best practices.

  • GLOBAL INVESTMENT FIRM
    Investment data management

    An architecture assessment of existing systems identified process bottlenecks in the current cloud-architecture. During the initial phase, SoftServe defined AWS+Data architecture and implemented MVP.

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