Old Mutual has struck a deal with Amazon Web Services which will see the financial services group move a significant portion of its IT workload to the cloud.
Components being moved to the cloud will include;
- Digital customer platforms
- core insurance applications
- product administration systems
Old Mutual will migrate over a thousand applications to AWS and consequently shut down their own data centres by 2022.
Old Mutual is integrating AWS’s analytics and machine-learning (ML) services into its business processes to drive greater insights to help the company build more personalised customer-facing applications and experiences.
Old Mutual is building a ‘data lake’ on AWS, called the Information Fabric, which will provide a single, consistent view of a customer’s information across the entire business.AWS statement
According to Tech Central, the move will centralize the view customers get in their portal, ” Using Information Fabric, Old Mutual is in the process of refining its MyOldMutual customer portal, giving customers a view of their entire financial portfolio in one place.“