Category: Financial Services

Mid-Hudson Valley Federal Credit Union (MHVFCU) needed to automate their tools and develop advanced forecasting capabilities to make informed decisions for deposit management and growth to maximize benefit for their members. For this purpose, MHVFCU leadership sought a solution that would not only save time in data preparation and analysis but also provide accurate forecasts for balances across four key deposit products: savings, checking, certificate deposits (CDs), and money market. Read this post to learn about the solution they built with AWS.

California Credit Union successfully used AWS to enhance its disaster recovery and backup capabilities for its core banking system, Fiserv DNA. This post explores how the credit union overcame challenges, improved its resilience, and set the stage for future innovations in financial services.

This post discusses how FIA Tech, a leading technology provider for the exchange traded derivatives (ETD) industry, built the Trade Data Network (TDN) on Amazon Web Services (AWS). TDN is an industry initiative that provides a shared ledger of trading information to address the fragmentation and lack of transparency in ETD post-trade processing. The TDN initiative currently includes 17 banks/brokers and 40 investment managers and hedge funds with combined assets under management of more than $34 trillion.

Credit unions play a crucial role in communities by providing a diverse range of financial services driven by their members’ needs. These services, supported by core banking applications, form the backbone of credit union operations. Traditionally, credit unions use legacy systems for their core banking applications, such as lending, payments, and deposits. But these systems are monolithic, expensive, and lack open architecture, impacting credit unions’ abilities to deploy changes based on market demands. In this digital age, cloud computing offers a transformative solution, and as we will explain in this post, Amazon Web Services (AWS) stands at the forefront.

On February 22, 2024, Amazon Web Services (AWS) hosted its first Federal Financial Services Artificial Intelligence (AI) Forum at Amazon HQ2 in Arlington, Virginia, convening leaders from the public sector and financial services industry. Read this blog post for a recap of the event, which covered the tremendous opportunities and challenges around AI with experts across public and private sector organizations.

Credit unions face unique security, regulatory, and compliance obligations. These requirements mean that a sound cybersecurity posture is essential for credit unions across both cloud workloads and on-premises technology. Read this blog post to learn how Amazon Web Services (AWS) can help credit unions prepare for audits, assess security posture, and produce documentation for state or federal regulators.

At this year’s re:Invent conference, AWS is introducing Innovation Talks, which are deep dives hosted by AWS thought leaders. Dave Levy, vice president of AWS worldwide public sector, is hosting the session, “Empowering citizens through digital innovation” and will be joined by speakers from the Federal Reserve Bank of Boston, Covered California, and Singapore’s Smart Nation and Digital Government Group (SNDGG). Read this blog post to learn more about these featured customers.

What if there was a transformative solution for managing pension funds? AWS offers personalized investment solutions for investment firms using cutting-edge machine learning (ML) technologies. By utilizing cloud-based services, pension managers can harness advanced data analytics, gaining valuable insights that inform investment strategies. This empowers leaders to make well-informed decisions that align with the needs of stakeholders.

Public sector regulatory agencies are at an inflection point as digital assets have emerged in the private sector in the form of cryptocurrencies, stablecoins, non-fungible tokens (NFTs), and central bank digital currencies (CBDCs). To inform this process, AWS has collaborated with industry analyst firm, Constellation Research, to write a new research report available to the public. “The CIO Imperative for Digital Assets in the Public Sector” presents an exploration of the requisite topics to get CIOs and their teams up-to-speed and ready for this journey.

Today, AWS announced the addition of new nonprofit solutions in the AWS Solutions Library and AWS Marketplace. These solutions are tailored to the unique requirements of credit unions and nonprofit research organizations. They range from architectural guidance to ready-to-deploy solutions, and also include offerings developed by AWS Partners. Learn the solution categories that collect these new solutions into important mission areas, as well as some of the specific solutions that can help credit unions or research organizations get started with AWS.