Deloitte and AWS partnership to fuel fintech, crypto

Deloitte is embarking on a multi-year co-investment and engineering collaboration with Amazon Web Services Inc. (AWS). At the centre of the new partnership is Deloitte’s digital banking platform in a push to help banks and non-banks bring products and services to market with more ease on AWS.

Deloitte’s ConvergePROSPERITY BankingSuite on AWS provides a digital-first back office by giving internal employees a single view of the customer and innovative financial products – such as cryptobuying for consumers and invoicing for small-to-medium businesses – integrated within the banking app.

The platform also helps banks and non-banks with quickly enabling customer-centric features such as cross-product offers, rewards, and highly contextual omni-channel experiences.

Under the partnership, Deloitte’s BankingSuite technology stack will use Amazon Connect for contact center and Amazon Connect Cases for call center case management, Amazon Pinpoint for customer engagement management, and Amazon Cognito for end-user security.

The case study in Deloitte’s press release centers around Western Union, an AWS customer since 2019.

“Launching bespoke digital banking services has long been an expensive and time-consuming endeavor,” said Gys Hyman, general manager of ConvergePROSPERITY by Deloitte and principal, Deloitte Consulting LLP. “As banks and financial services organizations continue to navigate the challenges of shifting customer expectations, COVID-19, regulatory changes, and emerging organizations disrupting established models, the imperative to innovate with speed has never been greater.”

“BankingSuite enables banks to continue to bring technology innovation to the forefront so they can create new, targeted offerings at the pace customers now expect. This new solution combines the power of Deloitte’s deep sector and technology experience together with the security and scale of AWS, and breadth and depth of AWS services to build an enterprise-class banking platform that can help our clients create a tech-forward and customer-centric digital banking future today.”

“The financial services industry is focused on accelerating innovation to drive new and better ways of operating, and identify new business opportunities and customer experiences,” added John Kain, head of Financial Services Market Development at AWS.

“Financial institutions are taking advantage of the momentum from over a decade of unprecedented pace of change to reinvent themselves, re-imagine business and customer value, streamline their processes, and become increasingly resilient. Our work with Deloitte combines the power of AWS services and security with Deloitte’s industry experience to support financial services organizations as they accelerate innovation and digital transformation to foster frictionless consumer experiences.”