Using public clouds to run financial transactions is the best way to guarantee safety, scalability, and flexibility, said Daniela Binatti, Co-Founder and CTO at Pismo, in an interview with Convergencia Digital, a Brazilian news website centered around IT and technology.
Daniela was interviewed during Febraban Tech conference in São Paulo, Brazil. She discussed how Pismo has counted on Amazon Web Services (AWS) public cloud to run its solutions since the company launched its MVP.
With more than 20 years of experience in the financial industry, Daniela said that when she decided to co-found Pismo, being a cloud-native solution was one of the requirements.
“We didn’t want to spend time with infrastructure maintenance, having to do hardware re-sizing for peak demand,” she explains. “Having a flexible solution with someone managing the infrastructure gave us the time to focus on the product. This was only possible due to the range of managed services we could leverage at that time with AWS.”
Safety is gold
One of the biggest concerns banks have when acquiring a core banking solution is safety. Daniela says that security and legal squads were also worried about the reliability of the public cloud.
“The use of cloud computing in the financial industry still has a lot to grow, but the path is already drawn,” she adds. “There’s no longer a doubt between running in the cloud or not. It’s just a matter of building and transforming the mindset.”
Numbers don’t lie
When someone asks if running financial solutions in public clouds is worthwhile, the answer is in the numbers. With operations worldwide, Pismo processes 60 million accounts and more than US$ 100 billion a year.
“Having a solution based on the public cloud allows us to launch an instance of the platform anywhere in the world where AWS is available. Everything gets easier and more scalable,” Daniela concludes.
You can watch the interview in Portuguese below: