Goldman launches Goldman Sachs Financial Cloud for Data, new cloud-based software created in partnership with Amazon (AWS) to offer data and analytics for financial institutions

Wall Street giant Goldman Sachs announced Tuesday 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. The new product will enable Goldman to quickly provision cloud-based data management, analytics, and security services to hedge funds and asset managers, among other firms.

Goldman said the collaboration with AWS redefines how clients can discover, organize, and analyze data in the cloud, thereby gaining rapid insights and driving informed investment decisions. With the new “Institutional clients will benefit from decades of Goldman Sachs experience to address data management and analytics challenges,” the bank said.

Goldman Sachs also noted that the developers within investment firms continue to spend significant time and energy customizing various tools to manage, interpret, and analyze financial data at scale. The new Goldman Sachs Financial Cloud for Data product will enable them to leverage the new advances in data and technology that are rapidly transforming the financial services industry.

“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 firm said in a news release.

“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.”

“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.”

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/.