Sopra Banking Software (SBS), a technology partner to over 1,500 financial institutions worldwide, has joined the Amazon Web Services (AWS) Independent Software Vendor (ISV) Accelerate Program, a co-sell program for AWS Partners who provide software solutions that run on or integrate with AWS.
The ISV program helps AWS Partners drive new business and accelerate sales cycles by directly connecting participating ISVs with the AWS sales organization. Since 2016, SBS has been working with AWS to power its digital, cloud-native banking platforms for banks and financial institutions around the world. The expanded collaboration will support ongoing innovation of SBS’ banking capabilities and financial services on AWS to help banks navigate a new digital landscape led by AI.
Banks’ growing AI ambitions are driving migration to cloud-based architectures at a growing rate, with spending on public cloud services expected to increase by more than 20% in 2024. Many financial organizations that began their cloud journeys by transforming a single area of their business are now looking to bring more, if not all, of their services into the cloud. As AI becomes a critical piece of banks’ business, transitioning to complete cloud-based infrastructures will be the only way banks can successfully transform their years of historical data into business growth.
Working with AWS to power its Sopra Banking Platform and Sopra Financing Platform, SBS enables retail, commercial and corporate banks of any size, as well as financing players in any market, to take a Software-as-a-Service (SaaS)-driven approach to cloud migration and digitization.
SBS’s suite of AWS-powered capabilities digitizes operations across the entire banking and financing value chain, including:
Digital & Open Banking: Enables banks to provide customer onboarding, daily banking, and open banking to securely access, analyze and manage their customers’ data to improve their financial well-being with personalized, predictive insights.
Core Banking: Powers day-to-day retail banking services including deposits, lending, payments and compliance for all of banks’ customers, across all of their locations, from a single, digital platform.
Payments: Banks can easily and securely add new functionality to cover the entire payments value chain including instant payments, request to pay, open banking payments, fraud monitoring, payments reporting, and more.
Risk Management, Regulation and Reporting: Keeps banks in compliance with market-specific regulatory changes and streamlines communications with stakeholders.
Wholesale Finance: Transforms the legacy and heavily manual processes associated with wholesale asset financing such as loan processing, onboarding new clients, inventory auditing and risk management into automated, digital functionalities.
“The more advanced banks and financial institutions become in their digital journeys, the more they are realizing that large-scale, cloud-based architectures are a critical prerequisite for success. Our heightened focus on scaling our work with AWS is a direct response to this need and will enable us to bring our suite of banking and lending solutions to a larger segment of the market,” said Eric Bierry, CEO of Sopra Banking Software.