November 30, 2016
Redwood City, CA – November 29, 2016 – Corezoid, a process engine platform for creating a new banking digital core, today announced that it has achieved Amazon Web Services (AWS) Financial Services Competency status. This designation recognizes Corezoid for its delivery of effective solutions that help banks and financial services organizations manage critical issues pertaining to the industry, such as core systems implementations and data management.
Achieving the AWS Financial Services Competency differentiates Corezoid as an AWS Partner Network (APN) member that has demonstrated relevant technical proficiency and proven customer success, delivering solutions seamlessly in the AWS Cloud environment. To receive the designation, APN Partners must have demonstrated industry expertise, readily implemented solutions with proven value, and have staff with AWS-certifications.
Corezoid is a new generation of hosting, said Alexander Vityaz, CEO, Corezoid. We help shift a company’s focus from maintenance (servers, clusters, memory) to the core sense of their business: processes. You get the environment that supports your processes and can be automatically scaled, almost infinitely so. With Corezoid, you can focus on your industry’s core competencies and the ability to build algorithms that will allow you to become a zero latency enterprise, a smart company where the distance from idea to implementation goes to zero."
The AWS Cloud is enabling scalable, flexible, and cost-effective solutions for banking and payments, capital markets, and insurance organizations of all sizes, from startups to global enterprises. To support the seamless integration and deployment of these solutions, AWS established the Financial Services Partner Competency Program to help customers identify Consulting and Technology APN Partners with deep industry experience and expertise.
The Corezoid Process Engine equips financial services businesses with a cloud-based digital core that runs as a new layer on top of their legacy systems. This digital core can then handle API-based processes designed to deliver whatever specific added functionality the business requires. This new digital core also provides the increased computational power – through cloud-based parallel processing – that is needed to achieve efficient and timely completion of day-to-day account processing operations at banking institutions. And, the digital core is able to orchestrate legacy software and resolve conflicts to make different systems used across a business fully compatible. Businesses in this sector also gain the ability to perform real-time event processing, resulting in valuable real-time dashboards, reports on demand, and real-time accuracy of account information for financial services customers no matter what channel or interface they are using.
Implementing Corezoid has vastly improved the speed and simplicity with which our myriad banking systems operate, said Igor Remez, Deputy Head of IT at PrivatBank, the largest bank in Ukraine. Moving our processes over to Corezoid’s platform reduced our needed data storage space by a factor of ten, while also making it possible to perform every type of account and regulatory calculation required by PrivatBank’s operations in an instant. For example, our bank’s daily summation task, which previously took up to six hours to complete, is now handled by digital core processes in under four minutes. It’s been hugely beneficial to have the power of Corezoid’s cloud process engine enabling us to create more flexible solutions and supporting our endeavors going forward.