BBVA is moving its complex investment banking operations to Amazon Web Services.
The Spanish bank is tapping AWS' High Performance Computing to speed up number crunching for complex financial markets calculations. HPC enables millions of calculations to be performed at the same time, resulting in more accurate and faster valuation processes for corporate and institutional clients.
The collaboration will equip traders, data scientists and analysts with the elasticity needed to have the cloud technology resources fully adjusted to real-time needs and demand at any given moment. This includes short periods of time to perform valuations of complex operations or risk scenarios.
BBVA says the pay-per-use platform will significantly reduce service costs.
Enrique Checa, global head of architecture and infrastructure at BBVA CIB, comments: “The flexibility, scalability and possibilities provided by AWS cloud solutions in this project allow us to take a very important technological leap forward and be ready for the future.”
In November 2020, BBVA moved its market data distribution network to Amazon Web Services, providing an at-scale platform for the equity markets area capable of handling increasingly vast volumes of data.
Dubbed ‘BBVA C-Fit’, the platform combines technologies such as Amazon Elastic Kubernetes Service and Amazon Managed Streaming for Apache Kafka with Bloomberg’s B-Pipe, to render real-time direct access to market data over the cloud.
Finextra has recently launched the inaugural Financial Cloud Summit, scheduled to take place on 2 March 2023. For more information and to register for this event, please visit the event page here.