Responding to Market Demand as Financial Institutions Embrace Cloud
Fenergo, a leading provider of digital Client Lifecycle Management (CLM) software solutions for financial institutions, has announced an expanded relationship with Amazon Web Services (AWS) and Sungard Availability Services (Sungard AS) to offer CLM in the cloud as a Managed Service. The move is a direct response to the growing acceptance of cloud amongst financial institutions and requests from the Fenergo client community. Research by Fenergo found that 56% of global financial institutions are prioritising cloud in the next 12 months and 57% have started implementation.
Addressing the shift in attitudes Fenergo’s fully managed CLM cloud platform, via Amazon Virtual Private Cloud (Amazon VPC) powered by AWS, allows IT departments to focus on more business-critical tasks while reducing costs. The Managed Services model closely resembles that of an on-premises environment, making it easy to migrate to or from a cloud environment or between cloud service providers. This allows financial institutions to quickly get business solutions up and running while maintaining the flexibility of customer specific configuration, interfaces, and processes. Alternatively, banks could opt to seamlessly deploy Fenergo’s CLM platform to their own cloud, maintaining full control of their environment.
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Niall Twomey, Chief Technology Officer, Fenergo, said: “Our client engagement approach to product development means that we are highly tuned to the requirements of the financial services industry. Whilst we’ve always been able deploy our CLM solutions in the cloud, our Managed Services offer with best-of-breed partners is ideally suited to the needs of financial institutions today.”
Fenergo’s focus on its customers’ requirements led it to partner with Sungard AS, a leading provider of highly resilient and secure infrastructures within data centers and on AWS. To provide the best outcomes for customers, the Sungard AS DevOps team worked with Fenergo’s CLM development experts to deliver a highly tailored, code-driven, secure environment leveraging the elasticity of the cloud. This managed environment is designed to allow financial institutions to more quickly adopt cloud services.
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“Customers increasingly expect secure, resilient and compliant infrastructures on demand,” said Meg Ramsey, Vice President of Cloud Services, Sungard AS. “Our partnership with Fenergo removes the infrastructure implementation and management burden from its customers, allowing them to quickly consume Fenergo’s CLM solution by relying on Sungard AS expertise and experience.”
Colin Sweeney, Vice President of Cloud Operations, Fenergo, said: “The financial services industry has historically eyed the cloud with caution and our clients have largely wanted to host our CLM platform on-premise. Yet as we move into new sectors, we’re seeing more and more customers put cloud to the top of their agendas. The demand is in one part due to industry-wide digital transformation but also cost, the savings are too good to ignore. Our partnership with Sungard AS and AWS ensures our clients can perform client lifecycle management in a secure and scalable environment while experiencing all the benefits cloud offers.”
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