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Reduces cost and risk, and delivers customer-oriented service enhancements
Secures the flexibility and high performance needed for key analytics services in the public cloud using OCI
SEOUL, South Korea and AUSTIN, Texas, Nov. 12, 2021 /PRNewswire/ -- Samsung Securities, Korea's leading financial investment company, has selected Oracle Cloud Infrastructure (OCI) to underpin its digital innovation strategy as the company looks to respond to changes driven by the rise of digital finance in a post-pandemic world.
Samsung Securities operates in the global market with 45 domestic branches and five overseas offices in New York, London, Tokyo, Beijing and Hong Kong. Samsung Securities has been working with Oracle to determine how to best use technology to analyze derivatives in support of the development and operation of the company's stock and derivatives market trading and equity investment business. By migrating to the public cloud, the company has secured the flexibility, reliability and high performance computing capabilities required to effectively run advanced analytics in the rapidly changing financial market environment. Even in situations where there are significant or unexpected changes in the stock market requiring the need for swift and in-depth insight on key markets and derivatives, Samsung Securities is now able to analyze the derivatives in near real-time, to maximize customer profits.
Through its transition to the cloud, Samsung Securities is able to gain access to flexible, secure and high-performance computing resources not previously available with its legacy system. The new OCI cloud capabilities have improved system performance. Complex analysis and simulations can now be performed cost effectively with highly available computing resources, increasing convenience and removing the need for complex scheduling. The company has also implemented an information management system based on actual usage that allows money managers to better understand and maximize the return on derivatives. The new system also provides a strong foundation for digital innovation, allowing users to flexibly configure and set up development and test environments to support service improvement.
Additionally, Samsung Securities has set up a disaster recovery (DR) environment for the cloud system to ensure maximum availability of its derivatives analytics platform which can also be utilized to scale IT resources for future derivative analytics. The company plans to continuously expand its use of the cloud to support various services such as real-time 'quant' trading to enable analysts to respond more efficiently to changing market conditions.
"The new normal of virtual communication, post pandemic, has made digital innovation and risk management increasingly important for the financial industry," said Hoon-Kyo Lee, Managing Director, Information Strategy Team, Samsung Securities. "The shift of Samsung Securities' derivatives analysis business to the cloud, in cooperation with Oracle and leveraging their strengths in enterprise cloud services, is helping cement a data driven foundation for digital innovation that will only strengthen Samsung Securities' future core competitiveness."
"As a trusted leader for financial investment, Samsung Securities is constantly looking for innovative technologies to enable their customers to grow their assets," said Tom Song, CEO, Oracle Korea. "With Oracle Cloud, the next-generation cloud designed to run any application faster and more securely for less, they now have the foundation needed to effectively respond to changing market conditions and customer needs."
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