Precia delivers valuation and financial modeling services using AWS
This early adopter of cloud services in Colombia’s financial sector operates at 10x speed since leaving the data center.
Industry
Financial Services
Challenge
In the highly competitive financial services industry, Precia needed to quickly migrate to the cloud in order to meet the needs of the market and maintain its leading position.
Solutions Cloud, Public Cloud, Email & Productivity, Security Platforms Applications, Microsoft Office 365, Cloud, Amazon Web Services (AWS)Our customer
Precia, a subsidiary of the Colombian Stock Exchange, provides regional valuation and management solutions for financial portfolios. Its goal is to develop and operate fair-value calculation methodologies for all instruments on the balance sheet of financial sector entities, including fixed-income securities, equities, derivatives, structured products, companies that aren’t listed on the stock exchange and other assets.
"Rackspace Technology has proven to be the partner that truly has the knowledge and support to handle the biggest issues. They know how cloud technology works and have the partnerships and expertise to make it a reality."
The obstacles they faced
Precia’s previous infrastructure presented challenges in its development and testing environments. Given the importance of agility in the financial services sector, this was causing a bottleneck when developing new products and services for its customers. By migrating to public cloud, Precia would have access to infrastructure that met current demands with the flexibility to scale easily in the future.
After an extensive review of its public cloud options, Precia chose Amazon Web Services (AWS) for its infrastructure and quick deployment capabilities. However, Precia soon realized that it needed a partner who could both get it to the cloud quickly then optimize its cloud solutions well into the future.
"We can enable environments and infrastructure resources much faster. What previously took six months can now be done in a matter of days."
How we helped
Rackspace Technology became an extension of Precia's technology team and offered continuous feedback, leading to quick and efficient results without any downtime via AWS Managed Services.
Precia also relied on Rackspace Technology for its cybersecurity security solutions. Rackspace Technology performed continuous infrastructure checks to secure areas where vulnerabilities existed.
What we achieved together
By partnering with Rackspace Technology, Precia has achieved a leading position in its industry via the AWS platform. Thanks to increased response times, speed has become a new product by itself, which has allowed Precia to be more agile when responding to customer needs.
Precia has the distinction of being the first company in the Colombian financial market to migrate workloads to the cloud, securing its place as an organization that’s able to contribute to the stability of Columbia’s financial system.
About Rackspace Technology
Rackspace Technology is a leading end-to-end hybrid cloud and AI solutions company. We can design, build, and operate our customers' cloud environments across all major technology platforms, irrespective of technology stack or deployment model. We partner with our customers at every stage of their cloud journey, enabling them to modernize applications, build new products, and adopt innovative technologies.
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