How cloud computing is changing the business world

What do the movies have in common with banks? Aside from the billions of rands and dollars that flow through both industries, they seem worlds apart. Yet, in the world of cloud computing, they are suddenly close neighbours.

At last week’s AWS Summit in Cape Town, it became clear just how powerful the cloud can be for South African organisations. One of South Africa’s oldest insurance companies, one of the country’s largest universities and the country’s newest bank all took to the stage to share case studies of how the cloud had transformed their operations.

“We’ve got so many services in the ecosystem. From a security point of view, every single one of our customers’ conversations with the bank comes into the AWS world via a security layer, a content delivery network, web application firewall and AWS’s Advanced Shield, so we are pretty resilient from cyber attacks.

“This is where we say, if you take a step back, this stuff is very cool, but it translates into an element of risk. From a risk point of view, rather than using that scaffolding, we said let’s take our microservices container, and get an animal like AWS to run it for us. So we’re effectively replacing the Netflix stack with AWS and its native services. “

As TymeBank refines its services and migrates deeper into the Amazon cloud, it has been able to cut costs dramatically. This partly explains why TymeBank is able to bring the monthly cost of having a bank account to exactly zero. It is only when one starts using its services that banking fees kick in.

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