Amazon Web Services partners with Waton Securities International, enabling digital transformation of global brokerage firms with FinTech solutions
NEW YORK, 20 January 2023 /PRNewswire/ — In January 2023announced Amazon Web Services (known as “AWS”) the strategic partnership with Waton Securities International (known as “Waton”) to launch a secure, simple, compliant and robust one-stop FinTech solution for global brokerage firms and financial institutions.
Established in 1989, Waton, which holds Type 1/4/5/9 licenses issued by the Hong Kong Securities and Futures Commission, has accumulated rich operating experience in the brokerage business over the past three decades. As a licensed brokerage firm and a provider of FinTech solutions, Waton leverages its remarkable services and resources across the value chain, to bring category-defining technology solutions from China to the world and to revitalize traditional brokerage firms with a powerful integrated digital transformation solution. To date, Waton has served more than a dozen institutional clients worldwide, with its proprietary Broker Cloud (Brokerage x SaaS) solution.
Watons Broker Cloud combines brokerage functions with FinTech SaaS solutions. Waton provides licensed brokerage firms with sophisticated one-stop execution and clearing services for large equity markets and asset management solutions, on the other hand, Waton offers an integrated one-stop solution for those financial institutions without IT capabilities or middle/back office infrastructure. launch their trading platforms and conduct brokerage operations digitally.
Waton leverages its deep understanding of the brokerage industry and value chain to build a comprehensive development system with comprehensive product features and robust information technology infrastructure, which can reduce the development cycle from several months to 2-4 weeks and development costs by more than 40%. Broker Cloud covers all functions for all kinds of scenarios in a customized way, directly addressing the biggest hurdles and obstacles in broker platform development and deployment. In addition, Waton has built automated risk management AI into our Broker Cloud platform, which helps clients identify, monitor and manage different types of risk, and meet regulatory requirements.
High efficiency, cost effectiveness, versatility, robustness and compliance are the main comparative advantages of Waton’s Broker Cloud services, combined with Waton’s solid experience in the major financial centers as well as the emerging markets. The strategic partnership formed between AWS and Waton is built on Waton’s track record and sector expertise leveraged with AWS’ access for global product offerings. With the strategic partnership, Broker Cloud clients can access global cloud infrastructure and services applicable to different scenarios, including customer management system, order management system, account management system, market offer and news information, KYC/AML, transaction payment and risk management. Furthermore, AWS offers the world’s most stringent security requirements, ensuring compliance through unified data access and security management. This allows for cost-effective scaling and fully integrated delivery of front-, middle- and back-end services. Broker Cloud will be a truly data-driven integrated platform with trading, investment analysis, risk management and operational systems to deliver the best brokerage services B2B to global clients easily, securely and efficiently.
Watons Broker Cloud runs on Amazon EC2, Amazon Web Services’ reliable, scalable, elastic computing service, to enable front-end, middle-end and back-end service integration. And it will use the Application Load Balancer to build a highly adaptive architecture to provide secure, compliant, and timely applications to Broker Cloud clients. Market quotes and news feeds are critical public data in the brokerage industry, requiring Broker Cloud to handle real-time processing and distribution of information to clients. Watons Broker Cloud uses Amazon Managed Streaming for Apache Kafka (MSK) to build a fully managed, highly reliable and secured data streaming service. In addition to market quotes and news feed, the platform also covers log collection and big data processing. AWS offers the most comprehensive set of databases to help Broker Cloud grow and innovate quickly in a cost-effective manner, to meet different demand scenarios.
Kai Zhou, CEO of Waton Securities International, said that digital transformation and upgrading of traditional brokerage platforms is an inevitable trend. Technological progress will help reduce marginal costs and deliver better services to more customers, and FinTech unicorns will be created in the wave of digitization. We are convinced that Waton Securities International, with 33 years of history and service experience in the brokerage industry, in cooperation with AWS’ strong infrastructure and technology advantages, will promote the progress and development of the entire brokerage industry.
In the future, the demand for digital transformation in the brokerage industry will continue to rise, and the integration of big data and FinTech into applications will accelerate. Waton Securities International’s deep sector expertise and category-defining FinTech capabilities, together with Amazon Web Services’ global cloud services platform, will empower more market participants to break through existing barriers and deliver best-in-kind client services to global users efficiently and effectively, while creating more added value through tailored digital solutions.
SOURCE Waton
