Old Mutual plans to move 1,000 applications to AWS cloud
African financial services group Old Mutual has selected Amazon Web Services (AWS) as its preferred cloud provider.
The group will be migrating its digital customer platforms, core insurance applications, and product administration systems to the cloud. It expects to transition more than 1,000 applications and will shut down its data centres in 2022.
Old Mutual is integrating AWS 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”.
The group 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”.
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 at any time. It has also built a chatbot for its website based on Amazon Lex.
“AWS provides us with the depth and breadth of services we need to innovate like a startup, with the security expected from Africa’s oldest and most trusted financial services company,” says Johnson Idesoh, chief information officer at Old Mutual.
“With AWS, we can rapidly experiment at lower costs and push the successful experiments into production faster, allowing us to improve the experience for existing customers and attract new ones.”
Andy Isherwood, vice president and managing director EMEA at AWS, adds: “Financial services organisations are turning to AWS because we offer them the broadest capabilities, best performance, and highest levels of security.
“For nearly two centuries, Old Mutual has been trusted by people across Africa. By moving off rigid, legacy technologies to flexible and scalable cloud technologies on AWS, Old Mutual will continue to maintain trust and delight their customers by offering more personalised services.”
Based in Johannesburg and listed on three separate African stock exchanges, Old Mutual was founded in 1845. It holds around $667 billion assets under management.