Czech-ing into the cloud

| January 16, 2019

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The first-ever cloud migration in Central Europe by a traditional retail bank: that’s the accomplishment of MONETA Money Bank, the fourth-largest financial institution in the Czech Republic, with more than a million clients and over 200 branches. Martin Berdych—senior manager of IT infrastructure at MONETA—and I were interviewed recently at the AWS re:Invent conference for 2018. This blog contains some highlights from that interview. MONETA made the decision to move about two dozen internal applications from its data center to the public cloud—in this case, AWS. This is giving MONETA a high-quality and flexible infrastructure for the growth of its services, important because the bank’s legacy infrastructure had been preventing them from being quick to market and responding to customers in a nimble fashion. With reduced legacy IT costs, the bank could then invest more in digital products.The migration is part of a larger IT strategy for the bank which includes becoming more agile (with a scalable infrastructure and short delivery times), and becoming more innovative, which means in this case using the latest technologies and external data for a seamless origination process for financial products.

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