By John Glenday

Amazon is seeking to gain a toe-hold in the banking sector by offering its cloud computing expertise to industry big-hitters such as Citigroup, Goldman Sachs and J.P. Morgan.

Amazon Web Services is inviting these companies to rent its servers to perform computationally heavy tasks as a cheaper alternative to building their own online infrastructure, although it faces a challenge reassuring institutions where security and privacy are key that their data is safe.

This would offer banks the flexibility to hire processing and storage capacity in real-time in response to customer demand, supporting services such as mobile banking apps as well as forecasting Read full story ›

Source: The Drum