Goldman Sachs and AWS Collaborate to Create New Data Management and Analytics Solutions for Financial Services Organizations
November 30 2021 - 01:33PM
Business Wire
Goldman Sachs Financial Cloud offering encompasses all the
benefits of AWS’s public cloud, including industry-leading
security, services, and proven global infrastructure coupled with
150 years of Goldman Sachs financial markets expertise
Today at AWS re:Invent, Goldman Sachs (GS) announced the launch
of Goldman Sachs Financial Cloud for Data with Amazon Web Services,
Inc. (AWS), a new suite of cloud-based data and analytics solutions
for financial institutions. This unique collaboration redefines how
clients can discover, organize, and analyze data in the cloud,
thereby gaining rapid insights and driving informed investment
decisions. Institutional clients will benefit from decades of
Goldman Sachs experience to address data management and analytics
challenges.
Advances in data and technology are rapidly transforming the
financial services industry, however developers within investment
firms continue to spend significant time and energy customizing
various tools to manage, interpret, and analyze financial data at
scale. Many of the existing solutions for financial data management
and analytics are based on a patchwork of legacy technologies that
struggle to meet the latency and scale requirements of modern
investment practices. As a result, investment firms may spend their
engineering expertise managing undifferentiated infrastructure and
wrangling data, rather than innovating at the speed they would like
for their customers.
The collaboration between Goldman Sachs and AWS will vastly
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. Goldman Sachs institutional clients will be able to
accelerate time to market for financial applications, optimize
their resources to focus on portfolio returns, and innovate faster.
Users of the Goldman Sachs Financial Cloud for Data will also
benefit from more streamlined and secure access to best-in-class
financial data from Goldman Sachs.
"Goldman Sachs has always led by building technology to serve
the most sophisticated financial institutions," said David Solomon,
Chairman and Chief Executive Officer of 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. 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, revolutionizing how our clients extract value from
the increasing wealth of information in our industry.”
Goldman Sachs Financial Cloud for Data is a cloud-native
financial data management and analytics solution for hedge funds,
asset managers and other institutional clients. It significantly
increases the power of GS front-office analytics tools, such as
PlotTool Pro, a leading time series analytics tool from GS, and GS
Quant, the firm’s Python toolkit. Clients can seamlessly and
securely integrate their proprietary data alongside GS-curated
financial markets data, including select third-party data products
through GS Financial Cloud for Data's integration with AWS Data
Exchange, a service that makes it easy to find, subscribe to, and
use third-party data in the cloud. The data is then available in
GS’s securely managed time-series database and analytics engine,
which is capable of storing and integrating tick-level financial
data across hundreds of different assets in real-time. As a result,
it is now easier for developers to analyze a diverse range of
financial datasets consistently and at scale using the latest
quantitative techniques, accelerating the time to get value to
market. Components of GS Financial Cloud for Data are also
compatible with Amazon FinSpace, an AWS service that makes it easy
to combine and analyze data from multiple sources, such as position
data from data warehouses or lakes.
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, CEO of Amazon Web Services, Inc. “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 organizations.”
“Access to high quality data at scale is essential to providing
differentiated returns to our clients,” said Justin Stephan, Head
of Investment Services and Technology at Wellington Management. “We
work with a variety of industry leaders to deliver those
capabilities and AWS and Goldman Sachs have been among our key
partners for many years. We believe that a product combining
Goldman's market coverage and expertise with the innovation and
velocity of AWS can improve investment outcomes by further
enhancing the ability to source, manage, and analyze data.”
“We've been partnering closely with Goldman Sachs to develop
advanced data and analytics solutions for our investment
professionals to accelerate time-to-market for new strategies,”
said Vlad Torgovnik, Chief Information Officer at Millennium. “This
new collaboration between GS and AWS will enable us to derive
unique insights from our proprietary data in a private and secure
environment, while leveraging the scale and innovation speed of the
cloud.”
“MSCI provides institutional investors with unique insights and
solutions to help them manage portfolios more effectively. Through
MSCI’s collaboration with Goldman Sachs, our shared clients benefit
from MSCI’s robust data and content and Goldman Sachs’ analytics
and trading workflows,” said Jorge Mina, Head of Analytics at MSCI.
“We always strive to meet our clients where they are, and with the
Goldman Sachs and AWS collaboration, our clients will have access
to more options that can unlock a whole new range of possibilities
in advanced portfolio analytics on the cloud.”
Clients can request access to preview the Goldman Sachs
Financial Cloud for data offering via the GS Developer Console or
via the AWS Marketplace.
For information on how to request preview access, visit
http://developer.gs.com/discover/.
ABOUT GOLDMAN SACHS The Goldman Sachs Group, Inc. is a
leading global financial institution that delivers a broad range of
financial services across investment banking, securities,
investment management and consumer banking to a large and
diversified client base that includes corporations, financial
institutions, governments and individuals. Founded in 1869, the
firm is headquartered in New York and maintains offices in all
major financial centers around the world.
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PRESS Goldman Sachs Sebastian Howell Tel: +44 (0) 20 7552
5821 sebastian.howell@gs.com
Vested gs@fullyvested.com
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