Old Mutual SA Adopting AWS Cloud Services

Old Mutual has struck a deal with Amazon Web Services which will see the financial services group move a significant portion of its IT workload to the cloud.

Components being moved to the cloud will include;

• Digital customer platforms
• core insurance applications
• product administration systems

Old Mutual will migrate over a thousand applications to AWS and consequently shut down their own data centres by 2022.

Old Mutual is integrating AWS’s analytics and machine-learning (ML) services into its business processes to drive greater insights to help the company build more personalised customer-facing applications and experiences.

Old Mutual is building a ‘data lake’ on AWS, called the Information Fabric, which will provide a single, consistent view of a customer’s information across the entire business.

AWS statement

According to Tech Central, the move will centralize the view customers get in their portal, ” Using Information Fabric, Old Mutual is in the process of refining its MyOldMutual customer portal, giving customers a view of their entire financial portfolio in one place.“

Amazon, Microsoft and Huawei are all competing for clients in South Africa and have plans to build data centres over the next half a decade.