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Enfuce and AWS – elevating finance through collaborative cloud innovation

4 minute read

The recent conversation between our Enfuce co-founder Monika Liikamaa and Pablo Villegas, Head of GTM Payments EMEA, Amazon Web Services (AWS), sheds light on the transformative potential of cloud technology and its profound impact on finance.
Read on to uncover valuable insight from two leading financial industry visionaries.

Collaborative synergy: Enfuce next-level card issuing powered by AWS

The success of Enfuce and AWS’s collaboration exists within a shared ethos and unwavering commitment to customer-centric innovation. As a disruptive force in finance, Enfuce has found a robust ally. AWS offers a wide range of services, including computing power, storage and databases, which Enfuce uses to deliver our payment processing services.

But the work with AWS isn’t confined to technology; it’s rooted in shared values and a relentless pursuit of groundbreaking solutions for good.

Enfuce: elevating finance through cloud processing

Enfuce’s pioneering move to transition payment processing to the public cloud in 2016 marked a turning point in finance. This strategic shift not only slashed time-to-market but also empowered Enfuce to deliver innovative products swiftly. AWS compliance support empowered Enfuce to become the first fintech company to operate in the public cloud with Finnish FSA approval.

By leveraging AWS’s robust public cloud infrastructure, Enfuce was able to bring groundbreaking payment solutions to market, significantly reducing delivery times by over 50%. The cloud’s scalability and agility laid the foundation for Enfuce to serve as a trailblazing card issuing partner for numerous European financial institutions and fintechs.

The journey underscored the value of thinking big, even for smaller fintech firms. Embracing cloud technology became a catalyst for Enfuce to transcend limitations, offering flexible solutions in card issuing, payment processing and digital payments.

Leveraging a leader’s expertise: AWS supporting fintech innovation

AWS emerged as an indispensable partner for Enfuce’s transformative stride. The synergy between Enfuce and AWS extends beyond technology to shared values and work ethics.

Monika reflected that as a backbone for smaller fintechs like Enfuce, AWS instils confidence among larger players to collaborate with smaller players. AWS’s unparalleled cloud services, coupled with its robust security and compliance measures, paved the way for fintechs – ensuring compliance, reliability and security – all while navigating evolving regulatory hurdles and fearlessly innovating.

Key differentiators: Enfuce’s approach

When asked about what makes Enfuce stand out, Pablo stressed that distinction in the industry was not solely attributed to technological prowess, but to Enfuce’s overarching approach to innovation and collaboration.

Enfuce’s early foray into the cloud for payment processing showcases a forward-thinking approach that enables rapid innovation and scalability. Coupled with AWS’s support, Enfuce has been able to move beyond conventional boundaries.

Embracing a cloud mindset: shifting perspectives

How cloud technology is perceived among banking CEOs has undergone a dramatic transformation since 2016. Initial scepticism has given way to a profound realisation of its indispensable need and many benefits.

The collaborative architecture offered by AWS not only ensures scalability and security, but also delivers environmental benefits and cost-efficiency previously unimaginable in traditional banking setups.

The evolution is evident in the cloud’s transformative dexterity, enabling unprecedented speed, scalability and global accessibility.

Challenges and opportunities in cloud processing

While the promises of the cloud are enticing, several challenges persist. Encryption and card network connectivity emerge as notable hurdles, compounded by navigating diverse regulatory frameworks across geographies.

However, these challenges also present immense opportunities. The cloud’s agility, cost-effectiveness and scalability beckon innovation and growth.

Incumbent bank CEOs ­– embrace cloud adoption now

The era of contemplating cloud adoption is over; the imperative now is swift implementation. The tide of change is already in motion, as shown by success stories like Enfuce’s collaboration with AWS.

Enfuce’s pioneering spirit, complemented by AWS’s robust cloud infrastructure, signifies a new dawn in finance. This collaboration exemplifies the power of synergy, innovation and aligned values, and the financial landscape is set for unprecedented efficiency, accessibility and innovation.

As an AWS partner, Enfuce isn’t merely transforming finance; it’s sculpting a future where technology converges with vision and customer-centric values. We are continually innovating to drive financial systems towards unparalleled financial inclusion, economic growth and shared prosperity.

Watch the whole conversation here:

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