Goldman Sachs and Amazon launch cloud-based data and analytics solution

Goldman Sachs has launched a new suite of cloud-based data and analytics solutions for financial institutions in partnership with Amazon Web Services (AWS).

The solution – called Goldman Sachs Financial Cloud for Data - was unveiled at AWS re:Invent, the cloud giant’s annual event in Las Vegas.

The bank said the new tool is cloud-native and aimed at hedge funds, asset managers, and other institutional clients.

Goldman claimed the platform “increases the power” of Goldman Sachs’ front-office analytics tools, such as PlotTool Pro, a time series analytics tool from Goldman Sachs, and GS Quant, the firm’s Python toolkit.

The bank said clients can integrate their proprietary data alongside Goldman Sachs’ financial markets data, including some third-party data products through Goldman Sachs Financial Cloud for Data’s integration with AWS Data Exchange.

The bank said components of Goldman Sachs Financial Cloud for Data are also compatible with Amazon FinSpace, an AWS service aimed at combining and analysing data from multiple sources, such as position data from data warehouses or lakes.

Goldman claimed the collaboration will reduce the need for investment firms to develop and maintain foundational data-integration technology and lower the barriers to entry for accessing advanced quantitative analytics across global markets.

The bank also claimed that Goldman Sachs’ institutional clients will be able to accelerate time to market for financial applications, optimise their resources to focus on portfolio returns, and innovate faster.

“Goldman Sachs has always led by building technology to serve the most sophisticated financial institutions,” said David Solomon, chairman and chief executive officer at Goldman Sachs. “Today, we are redefining the future of cloud for financial services as we enable developers to focus on building financial solutions for their customers.”

He added: “We are excited to bring together the two leading firms in financial services and cloud computing to deliver an unparalleled solution for financial data management and analytics on the cloud, revolutionising how our clients extract value from the increasing wealth of information in our industry.”

“With Goldman Sachs Financial Cloud for Data, we are lowering the barrier to entry so more financial services institutions can leverage advanced, near-real time analytics in the cloud,” said Adam Selipsky, chief executive of Amazon Web Services (AWS). “Combining Goldman Sachs’ data and over a century of financial services knowledge with the reliability, security, and industry expertise of AWS will reimagine financial services technology and put developer-focused, cost-efficient technologies in the hands of all organisations.”

    Share Story:

Recent Stories


New Business Frontiers
FStech’s Mark Evans discusses the future of financial services with Liu Jianning of Huawei, covering the limitations that current thinking can impose, how financial institutions can embrace technology to be both agile and resilient, and making space for the organisation to focus on the job of creating innovative business models and on delivering business value for their customers.

The Future of Intelligent Finance
FStech Group Editor Mark Evans sits down with Jason Cao, President of Global Financial Services Business Unit, Enterprise BG at Huawei ahead of its Intelligent Finance Summit which was held on 3rd and 4th of June in Shanghai. This Q&A delves into key trends in digital transformation of the financial services industry as well as a look at how data, robotic infrastructure, intelligent storage and innovative technologies are shaping the future for FSIs.

The Rise of Instant Payments
Instant payments are creating new business opportunities for banks by providing more touchpoints than ever. With these evolutions underway, Featurespace brought leading industry experts together to discuss how they are protecting customers from fraudsters in real time, utilizing innovative and disruptive solutions to reduce fraud. Click here to find out more.