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September 2016

Singapore’s DBS Bank signs up to Amazon cloud

DBS Bank in Singapore is using Amazon Web Services (AWS) cloud technology to support its push towards a more “fintech-like” culture and faster delivery of new applications. An agreement between DBS and AWS was signed after an extensive period of evaluation by DBS, as well as a proof of concept experimentation to explore how AWS can complement the bank’s existing datacentres. The bank said it had ensured that the implementation meets the requirements of the Monetary Authority of Singapore’s (MAS) technology risk management guidelines. One of the first use cases for AWS is in DBS’s trading business for pricing and valuing financial instruments for risk management, which requires extensive computing power. AWS gives DBS the flexibility to rapidly scale the capacity of its computing grid up or down. In the past it would have had to have permanent overcapacity just in case. In the trading case, AWS will give the bank a quick and cost-effective way to handle short-term surges in trading volumes such as those recently caused by ...

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