Step aside, Michelangelo. A new renaissance has begun — and it’s occurring in the cloud.
No, not the type of cloud you’d find handpainted in the Sistine Chapel; rather, the cloud that’s been redefining the tech industry.
Cloud computing has existed for several decades, yet its influence has grown substantially over the past several years. Recently, it has been adopted across an increasing number of industries — including financial services.
It’s one thing to use the cloud for personal banking services, but if you apply this same technology to the financial markets, you’ll run into many more complications.
Just ask the team at OCC. Several years ago, the equity derivatives clearing organization began evaluating use of the cloud to develop evolutionary solutions.
“We were taking a look at our current tech stack and the limitations of it and realized that we really needed to move forward and modernize our technology,” said Candice Schmidt, OCC’s Executive Principal of Cloud Architecture.
That’s when the “Renaissance Initiative” took hold, signaling the…