Old Mutual embarks on modernisation project with AWS

'Why moving to the cloud doesn’t need to be costly for small business' - by Grant Tate, Executive Head of Cloud Services at Vodacom Business.

On Wednesday, 16 October 2019, Amazon Web Services (AWS) announced that South African financial services provider, Old Mutual is using AWS as its preferred cloud provider – meaning more than 1,000 applications, including its digital customer platforms, core insurance applications, and product administration systems will migrate to the cloud.

The company says that it hopes its functionality, performance, reliable global infrastructure, and security will help Old Mutual modernise its technology infrastructure, rapidly innovate, and enhance the insurance and banking experience for customers, while also improving intermediary and employee interactions.

“AWS provides us with the depth and breadth of services we need to innovate like a startup, with the security expected from Africa’s oldest and most trusted financial services company,” says Johnson Idesoh, CIO at Old Mutual.

“With AWS, we can rapidly experiment at lower costs and push the successful experiments into production faster, allowing us to improve the experience for existing customers and attract new ones. AWS understands this high level of customer focus, which is why we see them as far more than just a technology supplier. We are working closely with AWS to not only serve our customers but also support the development of technology skills in Africa by offering ongoing cloud training programs for employees.”

Old Mutual is also integrating AWS’s analytics and machine learning (ML) services into its business processes to drive greater insights to help the company build more personalised customer-facing applications and experiences.

“Financial services organisations are turning to AWS because we offer them the broadest capabilities, best performance, and highest levels of security,” says Andy Isherwood, VP EMEA, Amazon Web Services.

“For nearly two centuries, Old Mutual has been trusted by people across Africa. By moving off rigid, legacy technologies to flexible and scalable cloud technologies on AWS, Old Mutual will continue to maintain trust and delight their customers by offering more personalised services.”

Edited by Jenna Cook

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