State Street (STT) announced that it has engaged both Amazon Web Services, AWS. (AMZN) and Microsoft (MSFT) as strategic providers of cloud and infrastructure solutions in connection with its multi-year technology transformation journey. State Street is consolidating its current network of segregated data center facilities to a more optimized data center footprint with fit-for-purpose designed and managed facilities. Through this transformation, State Street will modernize and standardize its technology infrastructure, leveraging automation and a combination of private cloud and public cloud capabilities. This hybrid and hyperconverged model combines all the elements of a traditional data center, storage, compute, networking and management, and will allow State Street to host workloads across private or public environments to optimize agility, performance, and scalability. This model will enable accelerated migration and modernization of applications, with the flexibility to accommodate strategic integrations. As part of its ongoing technology transformation journey, State Street’s focus on modernization through the facility, infrastructure, and application stack will increase resiliency, enable rapid business product innovation, and deliver enhanced customer experiences. To advance its strategy and accelerate its technology transformation, State Street has entered into strategic engagements with leading cloud providers.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on STT: