Genesis takes this year’s prize in the hotly contested category for the best cloud infrastructure provider.
According to Stephen Murphy, CEO of Genesis, firms in the financial sector have been forced to embrace cloud technology because of factors such as cost, regulation and time to market, as well as the growing need to incorporate alternative datasets.
“Once [the number crunching] is done, it is not going to change again for let’s say another day, or when there is a change in one of their portfolios,” he says. “They don’t need all of that infrastructure. If I have that on-premise, I have to buy all of that infrastructure and then it would be doing nothing for 90% of the time. So it kind of links to time to market, not just solutions but being able to be innovative and finding alpha. I think the cloud enables different types of solutions to be cost-effective and practical.”
In May, Genesis launched Creative Studio to help clients speed up the delivery of web-based solutions without writing additional code. The aim is to help buy- and sell-side firms with their digitization efforts. It can help firms reduce technology and infrastructure costs by cutting the time it takes to run web applications to minutes, as opposed to weeks or months.
“Not only do we have this infrastructure tool for the cloud; we also leverage things like Slack, where I come right to the channel to see what environments are actually live right now, and also see the quality of the environment, and turn off or turn on the new environment. When we talk about [being] cloud-enabled, we talk about not just the solutions run from the cloud, but our end-to-end development process is completely cloud-enabled as well.”
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