Itaú Unibanco Selects AWS as Its Long-Term Strategic Cloud Provider to Accelerate Digital Transformation
Today, Amazon Web Services (AWS), an Amazon.com, Inc. company (NASDAQ: AMZN), announced that Itaú Unibanco Holding (NYSE: ITUB), Latin America’s largest bank, has selected AWS as its long-term strategic cloud provider. Itaú Unibanco will leverage the world’s leading cloud to accelerate its digital transformation and enhance the banking experience for its 56 million customers around the world. As part of the 10 year deal, which expands on the bank’s existing relationship with AWS, Itaú Unibanco will move the majority of its IT infrastructure off mainframes and out of its on-premises data centers to the cloud. Itaú Unibanco will also migrate its core banking platforms, call center solutions, online, and mobile banking applications to AWS, creating a more flexible and efficient technology architecture that will help the bank to introduce new customer-facing services faster with lower operating costs. In addition, the bank will leverage AWS’s proven infrastructure and breadth and depth of services, including capabilities for analytics, machine learning, serverless, containers, managed database, compute, storage, and security, to gain agility and insights, helping it pursue new lines of business, develop new applications, and ensure security and regulatory compliance. The bank also plans to upskill thousands of its employees, expanding on the 1,300 professionals the company has already trained in advanced cloud technologies, to put new customer service ideas into development faster.
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Itaú Unibanco is expanding its use of AWS’s comprehensive portfolio of capabilities across its banking, credit cards, and insurance lines of business, as well as throughout its subsidiaries, such as Rede, one of the largest electronic payment solution providers in Brazil. The bank leverages Amazon Elastic Compute Cloud (Amazon EC2) to provide secure, scalable compute capacity for Pix, Brazil’s first nationwide digital instant payment platform that helps reduce reliance on cash and credit card-based transactions. Similarly, Itaú Unibanco uses Amazon Elastic Container Service (Amazon ECS) and AWS Lambda (AWS’s serverless computing service), to quickly launch and scale new financial services offerings, including iti, the bank’s free digital account platform that allows users to scan QR codes to easily and securely pay for products and services and transfer funds. By modernizing Credicard, one of Brazil's largest credit card platforms, on AWS Itaú Unibanco can create a digital payment and banking platform that can easily incorporate new features to meet evolving customer needs. Looking ahead, Itaú will migrate off legacy databases to AWS’s cloud-native databases, such as Amazon Aurora (AWS’s relational database) and Amazon DynamoDB (AWS’s key-value database that delivers single-digit millisecond performance at any scale with built-in encryption and data recovery) to quickly, reliably, and securely process financial transactions and build new applications that feature microservices architectures to support scalability and simplify updates.