FINTECH

Group - 15
Apoorv Piplodiya (2023PGP055)
Esha Awasthi (2023PGP109)
Jeet Davda (2023PGP094)
CHOOSING A CLOUD SERVICE PROVIDER
Nandini Sethi (2020IPM086)
Souvik Mondal (2023PGP358)
1.Joe kwo recognizes that the cloud offers both opportunities and risks.
a) How would a move to the cloud make it easier and/or more profitable for Fintech to provide large
volumes of selected data to its clients?

 For fintech moving to cloud will be more profitable because they can rent different services from providers instead
of investing heavily on several computer systems.
 Cloud computing will further benefits the organisation because the saved amount of capital can be used to train
fintech’s employees and workers for the new technology and prepare them accordingly before launching the
service.
 Cloud platforms allow fintech companies to increase/ decrease their infrastructure based on market demand.
 Cloud services provides exceptional data analytics and processing tools which fintech companies can leverage to
analyse and generate insights from very large datasets in less amount of time.
 Cloud providers have their presence all around the globe in the form of data centres. This will enable fintech to
serve data to clients present anywhere across the globe.
b) What technical challenges does fintech face in offering the new service?

 One of the biggest challenge fintech will face is that of Data Security. Since the data is available on the server
anywhere and anytime, hackers might attempt to steal data.
 Adoption of cloud technology will be challenging for fintech because the existing employees might not be
familiar with cloud technology and hence a certain level of experience is required to work on cloud platforms.
 Data Migration to cloud platform can be challenging and they’ll require skilled labour to migrate their existing
data to cloud.
 It would be difficult for an organisation to forecast the fluctuation in demand and scaling their resources up and
down in a cost effective manner.
 Financial transactions often requires low latency and high performance and making sure that the newly
deployed cloud services will provide that is a major challenge.
 c) What business challenges does fintech face in offering the new service?

 Fintech will have to update the skill set of their current employees. They might need to hire cloud experts which
will increase their expanses.
 Fintech Industry is highly competitive industry and standing out in the crowd might be challenging for the
organisation.
 Offering cloud services is major change in organisation and they might need to change their existing business
model and think ideas to monetise that effectively.
 Marketing of new offering can be challenging in fintech industry because it requires a through understanding of
market segments and target audience.
 Fintech companies must navigate through complex regulatory landscapes and complying with all these regulations
when offering cloud services can be a major business challenge.
2. Assume Joe kwo must choose a cloud service provider. based only on the information provided in the
case, which provider should kwo choose? why?

Kwo and his consultant chose the top three cloud service providers based on two important features for Fintech: batch
computing and cloud-native applications. They did this by comparing the performance of 15 cloud service providers
across eight key capabilities.
1. Amazon web services
2. Google cloud platform
3. Microsoft Azure

Forrester indicates Amazon and Microsoft are Leaders in the public cloud platform category, while Google is a Strong
Performer
It was well known that Microsoft, Google, and Amazon provided reliable cloud services and support.
 2. Assume Joe kwo must choose a cloud service provider. based only on the information provided in the
case, which provider should kwo choose? why?

Comparison between three potential cloud provider

Microsoft Azure:
1. More costly than Google and Amazon, yet less expensive when it comes to redeveloping applications.
2. Had to rely on Microsoft's pre-configured settings because it was difficult to change the configuration.
3. Optimizing the overall performance of an in-memory database

Amazon Web Services:

4. Compared to Google Cloud Platform and Microsoft Azure, the setup costs were lower
5. The AWS Redshift database is dedicated to data warehousing and provides compelling proof through case studies on NTT Docomo, Nokia, Coinbase, and FINRA.
6. The configuration was simple to alter and adaptable.
7. It has less expensive support than both Google and Microsoft, even if their support is comparable.

Google Cloud Platform:

8. The configuration was easily customizable and adaptable.
9. Pricing is quite flexible
10. The cost was approximately the same as that of AWS and less than that of Microsoft

As per above comparison Amazon Web services can be best choice for fintech criteria because
11. Despite being less expensive per month, AWS still offered competitive services, storage space,and computational power when compared to the more expensive Microsoft Azure.
 4. Evaluate the strengths and weaknesses of the provider evaluation process described in the case.

STRENGTHS WEAKNESSES

 A use case specific to Fintech was defined to

 The evaluation was totally internally focused. Use
evaluate all the cloud service providers. This would
cases of the service providers for other similar
ensure that the providers are tested on the capabilities
companies was not taken into account.
needed by the organization.
 Only information available on the service providers'
 Different perspectives of the providers' offerings
website was evaluated. Other external information
were taken into account like training, support,
like customer reviews were not considered.
security etc.
 The process did not consider the possible future
 The process was completely data driven and all
requirements of Fintech and the future potential of
three providers were compared side by side on the
cloud computing
same parameters to arrive at a decision
 4. What useful steps were taken in the provider evaluation process? Do you see any problem?
STEPS UNDERTAKEN
 The task was assigned to a consultant with abundant
prior experience in the field.
 The leaders in cloud service providing category were
chosen for evaluation.
 A Use Case based on Fintech's needs was created.
 The team gathered data from each provider's
website to learn about their basic offerings and
technical aspects.
 Training vendors supporting each option were
explored.
 Use case was mapped to each of the three providers.
 Monthly price estimates for each use case were
calculated.
PROBLEMS
 Long term costs were not taken into account (like
cost of vendor lock in, increase in security measures
etc.)
 Three different individuals mapped one use case to a
provider each. This might lead to individual biases
and non-uniformity in the evaluation process.
 Too much emphasis is placed on the quantitative data
but strategic considerations like existing
relationship with these vendors, ability to support
company's long term goals are not taken into
account.
THANK YOU!