AFTAs 2020: Best Cloud Initiative—DBS Bank
Banks have begun to shift their perception of migrating workloads and applications to the cloud. But concern over data latency and volumes linger, especially when it comes to streaming market data using the public cloud. Those concerns didn’t stop Singapore’s DBS Bank from taking the step forward, leading to it win this year’s best cloud initiative.
In 2019, the bank had had enough of the traditional model, which dictated that real-time delivery of market data requires dedicated, on-premise telecommunications infrastructure.
DBS is now the first financial services firm in Asia to use consolidator data feeds in the cloud. Together with interdealer broker Tradition, it developed cloud-based delivery of its data feed via the AWS Cloud into its legacy distribution system. This resulted in its clients benefitting from cost reduction of over 50% in operational costs.
Puay Hwa Ling, head of investment and trading technology, technology and operations at DBS, says the motivation to move to the cloud was partly driven by the bank’s market data clients. “Many companies have been exploring historical datasets and data analytics in public cloud, but not real-time processing or streaming data delivery. We wanted to be ahead of the curve on this,” she says.
Ling says DBS measured and compared latencies internally and saw it was within its tolerance for enterprise delivery. “Data volumes per connection were significantly lower, but again well within our operational requirements and scalable by increasing connections,” she says.
Looking ahead, Jimmy Ng, group chief information officer and head of group technology and operations at DBS, says the bank is decoupling applications from its infrastructure stack and accelerating containerization as it moves into a hybrid, multi-cloud infrastructure. This will allow DBS to tap into the public cloud to build applications and reduce structural infrastructure costs. “We plan to advance our public cloud journey in a safe and secure manner, aiming to discontinue the traditional delivery model in 2021 and have our market data applications be 100% ‘public-cloud powered,’” he says.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
More on Awards & Rankings
Witad Awards 2024: Technology innovator of the year (vendor)—Christy Bremner, SS&C Technologies
Christy Bremner, senior vice president, Institutional & Investment Management (I&IM) division at SS&C Technologies, wins technology innovator of the year (vendor) in the 2024 Women in Technology and Data Awards.
Witad Awards 2024: EDM professional of the year—Neslihan Yegul, S&P Global Market Intelligence
Neslihan Yegul, vice president, head of EDM and thinkFolio at S&P Global Market Intelligence, wins EDM professional of the year in the 2024 Women in Technology and Data Awards.
Witad Awards 2024: Technology innovator of the year (end-user)—Laura Hamilton, Bank of America
Laura Hamilton, global head of corporate treasury, credit risk, climate risk, and financial forecasting technology at Bank of America, wins technology innovator of the year (end-user) in the 2024 Women in Technology and Data Awards.
Witad Awards 2024: Vendor professional of the year (data and operations)—Joanna Davies, OSTTRA
Joanna Davies, head of trade processing at OSTTRA, wins vendor professional of the year (data and operations) in the 2024 Women in Technology and Data Awards.
Sell-Side Technology Awards 2024: Best sell-side front-office platform—Bloomberg
Product: Bloomberg TOMS
Most read
- Chris Edmonds takes the reins at ICE Fixed Income and Data Services
- Women in Technology & Data Awards 2024: All the winners and why they won
- DTCC urges affirmation focus ahead of T+1 move