AWS Marketplace
Accelerating financial services innovation with AWS Marketplace
Financial institutions face a convergence of market forces where artificial intelligence (AI) is reshaping business models, legacy infrastructure demands modernization, and customers expect technology-company experiences. Success requires organizations to innovate rapidly while preserving the stability and compliance that defines the industry. Amazon Web Services (AWS) and provide the tools to accelerate this transformation.
I recently moderated a webinar on Accelerating financial services innovation with AWS Marketplace. The session opened with insights into AWS Marketplace capabilities and industry trends from AWS experts including:
- Matt Yanchyshyn, Vice President of AWS Marketplace and Partner Services, AWS
- Nicole McQueen, Head of America Industry Partnerships for Financial Services, AWS
The session also included transformation experiences from Industry leaders:
- Jim Jockle, Executive Vice President & Chief Marketing
- Patrick Palomo, Principal Solutions Architect
- Patrick Zientara, Vice President of Financial Services & Insurance at Hyland Software
Below, I highlight key insights and takeaways from our discussion.
Transforming procurement with AWS Marketplace
Matt Yanchyshyn presented how AWS Marketplace streamlines enterprise procurement challenges facing financial services organizations. The digital catalog evolved from early app store concepts into an enterprise solution for finding, buying, deploying and managing third-party software. Today, financial services firms can find solutions from vendors , and Fiserv in AWS Marketplace.
According to public AWS metrics, AWS Marketplace serves customers through thousands of third-party software listings from numerous vendors, including financial services-specific solutions. Multiple partners generate over one billion dollars annually through the service.
Accelerating financial services procurement cycles
Standard contracts eliminate months of legal negotiations. Over half of the 15,000 software listings use these contracts, reducing legal review while maintaining compliance requirements. Chief Information Security Officers can verify compliance certifications through Vendor Insights.
Forrester research shows measurable results. Organizations achieve 377 percent return on investment with less than six months payback when procuring through AWS Marketplace1.
Enabling enterprise cost optimization
This procurement approach can help deliver cost savings. Software as a Service (SaaS) purchases may count toward AWS commitment discounts for customers with negotiated rates. This creates commitment to spending, potentially creating savings on enterprise software investments.
The service can help accelerate deployment timelines. Organizations may experience 30 percent faster time to market (TTM) and 22 percent reduction in deployment times through native AWS integration2. Channel Partner Private Offers enable purchases through existing resellers like, SHI, Presidio, and Deloitte, while large customers can operate numerous private catalogs with pre-approved solutions.
Preparing for agentic AI procurement in financial services
According to industry projections, significant AI investment is expected across financial services, transforming procurement in financial services³. The industry leads 20 percent of projected $632 billion worldwide AI spending by 20283. This investment will reshape how organizations buy software.
Agentic AI procurement is approaching rapidly. Within three to 18 months, AI capabilities may reduce transaction processing from weeks to seconds. These advances will maintain regulatory governance controls essential for financial services.
Understanding the current financial services landscape
Following Matt’s AWS Marketplace overview, Nicole McQueen shared current trends across the financial services industry. She highlighted how artificial intelligence (AI), core modernization, and evolving customer expectations are converging to create rapid change. Our customers consistently express three primary concerns:
- First: Leveraging AI to transform business models, not just improve processes
- Second: Modernizing legacy systems while maintaining critical operations
- Third: Delivering technology company experiences to end-customers, rather than standard banking experiences
Industry analysis suggests significant value creation opportunities through strategic AI implementation, representing a $2.6-4.4 trillion annual value creation opportunity globally⁴. Financial services firms can capture $310 billion of this opportunity through strategic implementation.
Financial institutions are accelerating AI adoption. Among banks implementing generative AI, 11 percent have production systems deployed. Meanwhile, 79 percent of large institutions have active programs5.
The investment pressure is increasing. Industry data shows increasing digital investment and regulatory compliance costs for financial institutions⁶.
Success requires three foundational elements: data strategy excellence, customer-centric modernization approaches, and security controls built from the start. Organizations that establish strong data foundations and deliver superior customer experiences will gain competitive advantage.
Learning from industry leaders
Our panel discussion revealed how financial services organizations approach digital transformation challenges. Each panelist brought distinct perspectives on balancing innovation with regulatory compliance requirements.
Addressing diverse market challenges
Jim Jockle outlined unique regulatory barriers facing trading technology. “Transparency all the way down into how these underlying pricing models and risk models work, which is creating a huge barrier for AI,” he explained. His company serves 750 customers globally, including banks, hedge funds, and asset managers.
Patrick Palomo discussed digital communications management across regulated industries. Smarsh generates over 90 percent of revenue from regulated financial services and specializes in managing, storing, and analyzing digital communications.
Patrick Zientara highlighted AI-enabled content solutions that transform daily workflows. “How can I manage that claim in natural language and get better information sooner?” he asked. Hyland’s solutions federate across an average of 21 different repositories.
Making strategic investment decisions
Technology investment approaches vary based on business focus and regulatory requirements. “When we talk about speed, scale, and compliance, it rarely makes sense to build from the ground up,” Zientara observed.
Palomo highlighted how regulatory familiarity drives purchasing decisions. Customers have gained comfort with AWS Marketplace solutions over a 10-year period. Security, resiliency, and scale remain critical evaluation factors for enterprise decisions.
Jockle noted cloud adoption varies across regions and departments. “Not every department is at the same point on its journey towards the cloud,” he explained. Some regions maintain traditional approaches due to regulatory requirements.
Navigating market volatility
Current market conditions create competitive advantages for firms with modern technology stacks. “We’re giving certain clients competitive advantages to do full real-time risk analysis compared to institutions still bound to end of day,” Jockle stated.
Palomo emphasized customer expertise in managing regulatory environments during volatile periods. “Our customer base is fundamentally in the risk management business,” he noted. These firms possess decades of experience managing regulatory change and market volatility.
Zientara stressed that innovation has become essential for competitive positioning. “Innovation has to happen, and if you don’t, the risk of not changing is just so great,” he warned. Organizations cannot afford to maintain outdated approaches.
Accelerating through partnerships
All panelists highlighted measurable benefits from working with AWS Marketplace. Jockle described how partnerships enable sales teams to focus on core competencies. “Having someone go hand in hand takes pressure off us and allows us to do what we do best,” he reflected.
Standard contracting proved particularly valuable for reducing friction in enterprise deals. “We went, ‘What about the standard contract?’ And they said, ‘Oh, thank God,'” Jockle recounted. This eliminated months of contract negotiations for complex enterprise transactions.
Customer procurement preferences have evolved. “Our larger customers essentially only want to procure through AWS Marketplace from us,” Palomo observed. Zientara quantified the impact: “Our largest enterprise opportunities were pulled forward three to four months.”
Conclusion
Financial services organizations face a clear choice: innovate rapidly or fall behind competitors with modern technology stacks. The webinar revealed practical strategies for accelerating transformation while maintaining regulatory compliance. Success requires focusing on three areas: streamlined procurement, strategic technology partnerships, and purpose-built AI solutions.
AWS Marketplace helps this transformation by removing procurement friction while preserving governance standards essential for regulated industries. As industry leaders from Numerix, Smarsh, and Hyland demonstrated, financial services organizations can accelerate deal cycles by months without compromising security or compliance requirements.
The competitive advantage belongs to organizations that act now. Financial services firms that embrace AWS Marketplace procurement and strategic partnerships may define the next decade of industry innovation.
About AWS Marketplace
AWS Marketplace is a curated digital catalog with numerous financial services solutions across multiple categories and regions. This makes it simple to find, buy, deploy, and manage solutions from AWS Partners with flexible consumption and contract models.
Over 300,000 organizations use AWS Marketplace monthly to accelerate digital transformation and improve efficiencies. Research from Forrester estimates it takes half the time to find, buy, and deploy solutions through AWS Marketplace compared to other channels.
Next steps
Visit Financial Services Solutions in AWS Marketplace to discover solutions like those discussed by our panelists: Numerix, Smarsh, and Hyland.
Watch Accelerating financial services innovation with AWS Marketplace to learn more about these topics and discover additional insights from the panel.