Organizations use data. Although this might sound like the most obvious statement ever made in the modern age of digital business, there is a deeper contextual meaning to draw from this home truth.
Organizations do use data, but across different industry verticals, firms use data in different ways, typically quite uniquely aligned to the needs of the functions carried out in the business use cases at hand. This combined difference and commonality means that enterprise technology vendors often go to market with an industry-specific set of offerings designed to provide pre-architected, custom-aligned, specifically-aligned and particularly-integrated technology services to customers.
MongoDB, Inc. reflected this precise move this week at its developer conference, MongoDB.local NYC. The company announced MongoDB Atlas for Industries, a new program to help organizations accelerate cloud adoption and modernization by leveraging industry-specific expertise, programs, partnerships and integrated solutions.
Expert-led architectural design
With MongoDB Atlas for Industries, customers have access to expert-led architectural design reviews, technology partnerships that deliver enhanced solutions for industry-specific challenges and industry-specific knowledge accelerators to provide relevant technology training paths for development teams.
MongoDB Atlas for Industries is launching its first set of vertical solutions for financial services, an industry that is changing rapidly with shifts in automation and technology advancements.
“Increasingly organizations in different industries are moving away from one-size-fits-all technology solutions to improve their competitive advantage and better serve customers. At MongoDB, we’ve built a team of experts with deep industry knowledge, many of whom used to be customers, so we are not only building better products with the right third party integrations, but our team can help customers get up and running faster,” said Boris Bialek, managing director of industry solutions, MongoDB. “Six of the top 10 global banks already use MongoDB in their infrastructure to solve some of their most critical problems. Launching Atlas for Industries is our commitment to continuing this level of dedication across financial services and other key industries.”
With MongoDB Atlas, financial institutions are promised the ability to improve customer experiences by modernizing legacy functionality on existing in-house banking systems and building composable architectures – architectures that make it easier to integrate best of breed third-party solutions – to get ideas to market faster with the performance and scale they need. MongoDB Atlas for Industries programs for manufacturing and automotive, insurance, healthcare, retail and other industries will follow over the course of the year.
Legacy lethargy
The company says that tens of thousands of customers rely on MongoDB to power their applications every day, but each industry has its own unique set of challenges and needs. Many industries are also at a crossroads between being restricted by the capabilities of their legacy environments and the opportunity that is being presented by next-generation applications, data analytics and generative AI.
However, additional pressures like cost optimization can make it seem like transformation efforts are being stifled. Despite all of this, many organizations still feel a sense of urgency to modernize workloads for their most mission-critical applications and innovate quickly to remain competitive and meet customer demands. When providers can offer experts who understand the nuances and have deep experience working in a specific industry along with their technology solutions, it delivers the extra support organizations need to get started.
MongoDB Atlas for Industries provides:
- Industry Innovation Workshops – dedicated executive engagement with industry experts from MongoDB and our partners to discuss client-specific solutions using best practices developed through proven industry experience.
- Industry Access Pass – access to MongoDB’s industry-specific partner integrations and toolchains to evaluate how to accelerate innovation and modernization projects
- Industry Jumpstart Assessment – building on the innovation workshops, organizations can engage with the MongoDB professional services team and industry experts to build a minimum viable product to help shape or refine a project.
- Industry Knowledge Accelerators – tailored MongoDB University courses and learning materials, including unlimited access to curated webinars and solutions sessions, to enable developer success
MongoDB Atlas for Financial Services
With changes in customer demands, regulatory compliance and new players challenging incumbents, the financial services industry, which has traditionally been conservative in its adoption of new technology, is under increasing pressure to modernize applications and innovate consumer experiences. MongoDB Atlas is built to help with this modernization, as well as enable organizations to build next-generation applications that take advantage of new technologies like generative AI. MongoDB Atlas also provides the resilience, scale and highest levels of data privacy and regulatory compliance that MongoDB financial customers require.
As part of the MongoDB Atlas for Financial Services launch, MongoDB has achieved Amazon Web Services (AWS) Financial Services Competency. To obtain this competency, MongoDB was tested against strict security, operational and reliability requirements, validating that MongoDB and AWS can help financial institutions get ideas to market faster, while reducing cost and enhancing business agility.
“MongoDB has been a trusted AWS Partner for eight years, giving customers running MongoDB Atlas on AWS a more powerful experience for building modern applications,” Mona Chadha, director of infrastructure partnerships, ISVs, AWS. “Achieving the AWS Financial Services Competency reaffirms MongoDB’s commitment to AWS and financial services customers, while demonstrating their breadth and depth of financial services expertise for use cases like fraud detection and real-time payments. With MongoDB Atlas on AWS, financial institutions can optimize to reduce costs in the short term while simultaneously transforming their infrastructure for long-term growth to embrace emerging technologies such as machine learning and AI.”
This AWS work builds on MongoDB’s long-standing relationship with AWS, including MongoDB Atlas’ availability in the AWS Marketplace. Additionally, MongoDB has become a critical foundation of the Temenos Banking Cloud, with a recent benchmark proving that together, Temenos and MongoDB can support the needs of even the largest global banks with exceptionally high performance while providing transparent data access through the JSON document model.
