DBS Bank has signed up with Amazon Web Services (AWS) to use Amazon’s cloud services. The implementation comes after proof-of-concept experimentation and meets the Monetary Authority of Singapore’s technology risk management guidelines. AWS gives DBS the flexibility to rapidly scale the capacity of its computing grid up or down, without having to make provisions for permanent overcapacity. According to the bank, by adopting a hybrid cloud environment it can be more fintech-like and more responsive to customer needs, experimenting and delivering new applications quickly. The bank plans to extend the use of AWS up to 50% of its compute workload to cloud by 2018. DBS technology and operations head David Gledhill said in today’s fast-changing world, companies such as Amazon, Facebook, Google and Netflix are widely acknowledged as leaders in innovation. What sets them apart is their ability to constantly experiment, automatically scale and rapidly bring new features to market. They are able to do this in part by leveraging the flexibility provided by cloud technology, he said.
