Sopra Banking Software and AWS expand bank cloud migration efforts

Sopra Banking Software (SBS) Joined the Amazon Web Services (AWS) Independent Software Vendor (ISV) Accelerator Program, a joint sales program for AWS partners that offer software solutions that run on or integrate with AWS.

The ISV program helps AWS partners drive new business and accelerate sales cycles by directly connecting participating ISVs with the AWS sales organization. Since 2016, SBS has been working with AWS to provide a digital, cloud-native banking platform to banks and financial institutions around the world. The expanded cooperation will support SBS’s banking capabilities and continued innovation in financial services on AWS, helping banks navigate the new digital environment dominated by artificial intelligence.

Banks’ growing artificial intelligence ambitions are driving an accelerating migration to cloud-based architectures, with spending on public cloud services expected to grow by more than 20% by 2024. Many financial organizations began their journey to the cloud by transforming a single area of ​​their business. Enterprises are now looking to bring more, if not all, services to the cloud. As artificial intelligence becomes a critical part of banking operations, transitioning to a complete cloud-based infrastructure will be the only way for banks to successfully turn years of historical data into business growth.

SBS partners with AWS to power its Sopra Banking Platform and Sopra Financing Platform, enabling retail, commercial and corporate banks of any size and financing players in any market to adopt software-as-a-service (SaaS) driven services, cloud migration and digitalization. method.

SBS’s suite of capabilities powered by AWS enables digitization of operations across the entire banking and financing value chain, including:

• Digital and Open Banking: Enables banks to deliver customer onboarding, day-to-day banking and open banking services to securely access, analyze and manage customers’ data to improve their financial health through personalized and predictive insights.
• core banking: Providing day-to-day retail banking services, including deposits, loans, payments and compliance, to all bank customers in all locations through a single digital platform.
• payment method: Banks can easily and securely add new capabilities across the entire payments value chain, including instant payments, payment requests, open banking payments, fraud monitoring, payment reporting and more.
• Risk Management, Supervision and Reporting: Allow banks to comply with market-specific regulatory changes and streamline communications with stakeholders.
• wholesale finance: Transform traditional and largely manual processes associated with wholesale asset financing, such as loan processing, new customer onboarding, inventory audits and risk management, into automated digital capabilities.

Eric Bierry, CEO of Sopra Banking Software, said: “The more advanced banks and financial institutions become in their digital journey, the more they realize that large-scale, cloud-based architecture is a critical prerequisite for success.

“Our increased focus on expanding our partnership with AWS is a direct response to this need and will allow us to bring our suite of banking and lending solutions to a larger market segment.”

Sopra Steria Group, the parent company of SBS, and AWS have been working together since 2016 to rapidly transform enterprises through innovative, scalable data and artificial intelligence solutions.

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Label: AWS, banking, finance, software