Goldman Sachs, an American multinational investment bank and financial services, is entering the cloud computing business. According to CNBC, “The bank is opening up access to its trove of market data and software tools to hedge funds and asset managers in an offering designed with Amazon’s cloud division.”
After two long years of collaboration with AWS, this move puts the 152-year-old Goldman in a new position to provide cloud services for Wall Street. David Solomon, CEO of Goldman, wants to use technology to better serve the firm’s markets division clients.
“Clients of the firm will get access to our decades of experience and data aggregation that should enable them to enhance their business decisions, both from a speed and efficiency perspective,” said Solomon to CNBC. GS Financial Cloud for Data with Amazon Web Services will assist asset managers in saving time by allowing developers to focus efforts on trades.