Markit, a financial information service firm has recently adopted Amazon Web Services (AWS). This adoption is set to optimize efficiency and capabilities of the firm while allowing for better performance of services such as thinkFolio, enterprise data management, and indices. Andrew Eisen, managing director, cloud strategy, enterprise software at Markit, has commented, “By embracing AWS’ services, we are extending our capabilities across divisions. Markit is taking a leadership role in how the financial services industry can leverage the cloud to create a step change in innovation. Our industry faces many dynamic challenges and this new partnership will enable us to be more creative in finding solutions to challenges faced by our customers.”
Scott Mullins, head of worldwide financial services business development, Amazon Web Services, has stated, “Markit’s migration of applications to AWS demonstrates the growing importance of data-driven decision making, increased risk management, accelerated go-to-market speed, and improved automation in financial services. Organizations like Markit benefit from the cloud’s global scale, cost efficiencies, and world-class security—all of which are also enjoyed by their customers.” Many customers are currently utilizing the new managed service.
Markit is a global, financial information and services company consisting of upwards of 3,600 employees. Founded in 2003, Markit aims to reduce financial risk while simultaneously increasing efficiency. Its headquarters are located in London and its current CEO is Lance Uggla. In the third quarter of 2015, the company boasted a 5.6% increase in revenue. It also launched “Know Your Third Party” a centralized cloud based data hub that aims to simplify third party risk management processes.