Amazon’s AWS cloud business has launched new data management and analytics service for the financial sector.
Amazon FinSpace is a data management and analytics service purpose-built for the financial services industry (FSI).
FinSpace reduces the time you spend finding and preparing petabytes of financial data to be ready for analysis from months to minutes.
Financial services organizations analyze data from internal data stores like portfolio, actuarial, and risk management systems as well as petabytes of data from third-party data feeds, such as historical securities prices from stock exchanges.
It can take months to find the right data, get permission to access the data in a compliant way, and prepare it for analysis.
FinSpace removes the heavy lifting of building and maintaining a data management system for financial analytics. With FinSpace, you collect data and catalog it by relevant business concepts such as asset class, risk classification, or geographic region.
FinSpace makes it easy to discover and share data across your organization in accordance with your compliance requirements.
You define your data access policies in one place and FinSpace enforces them while keeping audit logs to allow for compliance and activity reporting. FinSpace also includes a library of 100+ functions, like time bars and Bollinger bands, for you to prepare data for analysis.