Deloitte Announces the Formation of Olympus With AWS, the First Global Industry Cloud Accelerator Fund
Multi-year investment fund will expand the organizations’ relationship to focus on rapidly developing industry cloud solutions for pressing global problems.
Deloitte announced the formation of Olympus with Amazon Web Services (AWS), a global investment fund focused on building industry cloud solutions. This initiative combines the virtually unmatched engineering and industry domain knowledge of Deloitte with the security and scale of AWS to co-innovate and engineer solutions that tackle the toughest challenges in key industries, employing the principles of modern software engineering.
“Our goal is to help our clients more rapidly leverage the power of industry cloud solutions and modern technologies, like AI, machine learning, blockchain, IoT, 5G, AR/VR and quantum computing, all on the cloud, to address their most urgent issues such as food waste, access to financial products, clean energy, geo-political risk, etc., leveraging digital technologies, cyber security and modern architecture and engineering,” said Forrest Danson, principal and global chief commercial officer of the Amazon/AWS alliance, Deloitte Consulting LLP. “Industry clouds have the potential to both reshape entire markets and enable our clients to quickly realize future-looking business strategies.”
According to Deloitte’s research, industry clouds have the potential to reach $640 billion by 2025. This initiative is aimed at delivering the industry cloud solutions to accelerate digital transformation across industries. Deloitte and AWS deliver innovative value in the life sciences, consumer banking and smart manufacturing sectors, among others, with Converge by Deloitte on AWS live in over 30 countries globally.
Deloitte’s ConvergePROSPERITY™ BankingSuite will be a part of the Olympus program. This suite of services helps financial institutions meet the growing demands of consumers and small businesses and to expedite the launch of digital-first banking services. Deloitte and AWS have already co-invested and worked on the engineering, using Deloitte’s digital banking platform — which helps banks and non-banks deliver innovative customer experiences, modernize legacy product platforms, drive greater efficiencies and bring products and services to market faster on AWS technology.
“With ConvergePROSPERITY BankingSuite on AWS, we were able to de-risk and drastically accelerate the launch of our digital banking platform in three European markets,” said Tom Mazzaferro, chief data and innovation officer, Western Union. “More importantly, our ability to expand the set of products to countries incrementally has been significantly enhanced due to the module components and cloud-based architecture.”
“Together, we have already co-developed several groundbreaking industry cloud offerings,” said Chris Niederman, general manager, Global Account Sales and Strategic Alliances at AWS. “This new investment fund will help us to scale and expand across all industries globally, as we give our customers access to more powerful solutions that address their increasingly complex and specialized problems. Together with Deloitte, we have committed to translating our technology expertise and their industry experience into new industry solutions that reimagine and reinvent how business is done.”
Deloitte is committed to developing industry-focused solutions with AWS while supporting customers with their core offerings, including application migration and modernization, data modernization and artificial intelligence and machine learning (AI/ML), large-scale package migrations to cloud and security and customer engagement on Amazon Connect.
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Recognizing leaders across the globe playing a key role in helping customers drive innovation and build solutions on AWS, Deloitte was the recipient of five 2022 Regional and Global AWS Partner Awards. These include Sustainability Partner of the Year in Asia Pacific and Japan; Global Public Sector Partner of the Year; Security Partner of the Year in Latin America; Machine Learning/Artificial Intelligence (ML/AI) Partner of the Year in Europe, Middle East and Africa; and, most notably, Global Systems Integrator Partner of the Year in North America. These awards recognize Deloitte’s dedication to building and driving client solutions on AWS across industries.
Deloitte was recently named a Leader in the IDC MarketScape: Worldwide Industry Cloud Professional Services 2022 Vendor Assessment (doc #US48187622, September 2022), recognized for the breadth and depth of its solution portfolio and its network of ecosystem relationships, including AWS. Over the last three years, Deloitte has continued to grow its cloud practice globally and and has made numerous acquisitions of software and product engineering organizations around the world in support of industry clouds and the next generation of cloud technology, and was recognized as a Leader by Gartner® (Gartner, Magic Quadrant for Public Cloud IT Transformation Services by Mark Ray, Tobi Bet, David Groombridge, Craig Lowery, DD Mishra, William Maurer, July 20, 2022).