Principal Malaysia Taps AWS for Major Cloud Transitionby Fintech News Malaysia January 30, 2024 0 comments
Principal Malaysia, a joint venture between the Principal Financial Group (PFG) and CIMB Group Holdings, has announced its decision to adopt Amazon Web Services (AWS) as its primary cloud provider. This move is part of Principal’s strategy to advance its digital transformation and improve customer experiences.
This transition involves relocating 150 servers and 35 key business applications, including its Customer Relationship Management (CRM) system, to AWS.
This change is expected to provide Principal with enhanced scalability and agility, enabling them to better respond to the changing needs of their clients.
The shift to a cloud-first approach is in response to the growing investor base in Malaysia. Principal aims to offer sophisticated and engaging investment services to this expanding market, both in Malaysia and internationally, through a scalable and agile cloud environment.
By leveraging AWS’s extensive global infrastructure, including Amazon Relational Database Service, Amazon API Gateway, and Amazon Connect, Principal aims to invest in new technologies, minimise its data center footprint, and pursue global business opportunities.
This shift is expected to drive digital transformation across multiple business lines.
“The collaboration with AWS demonstrates our commitment to accommodate our customers’ evolving needs and help improve their access to financial solutions.
By leveraging AWS cloud technology, we strive to continue supporting our customers in building, protecting, and advancing their financial well-being,”
said Munirah Khairuddin, CEO of Principal Malaysia and Global Islamic, Managing Director of Strategic Distribution & Institutional Clients for Principal Southeast Asia.
“Financial service leaders in the asset management industry like Principal are increasingly turning to cloud technology to move from ideas to implementation quickly, while delivering personalized experiences that are secure and fully compliant with regulatory frameworks.
AWS is proud to support Principal as they innovate, respond to new market opportunities, and evolve to meet changing customer needs here in Malaysia, and we look forward to supporting Principal’s mission to foster a world where financial security is accessible by all.”
said Pete Murray, Country Manager, Malaysia and Head of FSI, ASEAN, AWS.
Featured image credit: Edited from Freepik