The Brexit test for DBS' cloud strategy

by

27 July 2016

DBS’ Treasury and Markets business is ready for Brexit. In one of the bank’s first use cases for Amazon Web Services (AWS), it will leverage AWS for the purpose of pricing and valuing financial instruments for risk management. According to DBS, this will allow the bank to have a quick and cost-effective way of handling short-term surges in trading volumes such as those recently caused by Brexit.

DBS Bank announced on 27 July that it has signed an agreement with AWS as part of its plans to create a hybrid cloud environment to complement the bank’s traditional use of data centres.

The bank envisages extending its usage of AWS over time and may shift up to 50 per cent of its compute workload to the cloud within a two-year period.

DBS Head of Technology and Operations, David Gledhill said the flexibility provided by cloud technology enables companies such as Amazon, Facebook, Google and Netflix to become leaders in innovation. "What sets them apart is their ability to constantly experiment, automatically scale and rapidly bring new features to market."

Likewise, the bank said with the use of cloud, it will be better able to experiment in a digital way as well as deliver new applications rapidly and securely. 

DBS’ agreement with AWS was signed after an extensive period of evaluation by the bank and Proof of Concept experimentation to explore how AWS' services can augment the bank’s existing data centres.

It also worked to ensure the implementation meets the requirements of the Monetary Authority of Singapore’s Technology Risk Management guidelines. In addition, DBS said it has established technology standards, internal approval toll gates and data encryption standards specific to its adoption of cloud.