Posted by Colin Lambert. Last updated: December 8, 2024
TP Icap and Amazon Web Services (AWS) have unveiled an agreement to streamline and scale the inter-dealer brokerage and data company’s technology infrastructure, including its Fusion e-platform.
The companies say Fusion will be a “key focus” of the seven-year work and will see 45 AWS professional services engineers working alongside TP Icap technology teams to co-develop the platform. Using data analytics and generative AI to improve developer productivity, the deal aims to more than halve new product development times, improve scalability and nearly double IT workload. TP Icap on the AWS cloud at more than 80%, the companies add.
Additionally, the company will focus on exploring opportunities to co-develop sustainability-focused business solutions in the energy and commodities markets, and help Amazon suppliers create decarbonization plans , aligning with Amazon’s zero carbon ambition by 2040.
AWS will also help TP Icap create an AI and Innovation Lab to accelerate and scale AI-based solutions. This lab will build on TP Icap projects such as automating regulatory governance reviews with Amazon Bedrock and creating a chatbot to automate customer engagement analysis and generate actionable insights.
“This strategic collaboration will allow us to more quickly develop new features to enrich our Fusion electronic platform,” says Nicolas Breteau, CEO of TP Icap. “And by equipping our teams with AI expertise and tools, we will further strengthen our ability to develop new solutions, execute them at scale, and better serve our customers.” »
Tanuja Randery, Managing Director of AWS EMEA, adds: “TP Icap’s ‘All in on Cloud’ strategy aims to migrate over 80% of its technology infrastructure to AWS by the end of 2026. This will reduce TP’s dependence Icap with respect to physical data centers and legacy systems. systems, generating millions in annual savings and reducing carbon emissions. And with the creation of its AI and Innovation Lab, TP Icap is also investing in training, equipping its staff with capabilities and skills to develop advanced AI-based solutions.