SAN ANTONIO, Sept. 18, 2020 (GLOBE NEWSWIRE) — Rackspace Know-how™ (NASDAQ: RXT), a number one end-to-end multicloud know-how options firm, right this moment introduced it introduced expanded Amazon Internet Providers (AWS) capabilities to M1 Finance, a Chicago-based on-line monetary companies firm. This has helped M1 Finance speed up fraud detection and allow real-time dynamic information querying by an environment friendly information pipeline.
M1 Finance provides an modern cash administration software for clever traders looking for entry to options equivalent to automation, leverage investing and banking companies, all wrapped into one built-in resolution. The corporate’s platform has skilled important progress, with over 200,000 accounts totaling roughly $2 billion in belongings and counting. To make sure a safe person expertise, M1 Finance goals to offer a seamless interface with strong safety and fraud detection.
With its fast person progress, M1 Finance discovered it was accumulating a considerably greater quantity of information from its inner methods than what may slot in its current information warehouse. Dealing with such excessive information volumes may grow to be pricey with conventional information warehousing. The corporate additionally had Java functions that amassed information over a few years which might be extremely helpful for fraud analytics. This information was trapped within the silos of legacy databases and Onica, a Rackspace Know-how firm, offered an answer to question quickly transferring excessive quantity information from the prevailing system.
“Onica’s crew actually went above and past in ideating and implementing the answer,” stated Richard Whaling, Lead Information Engineer at M1 Finance. “A terrific diploma of ardour and craftsmanship was seen within the code fashion and design of the implementation, which is uncommon to seek out in these sorts of engagements and actually superior to work with.”
“Clever traders will profit drastically from the info analytics advances M1 Finance has made to speed up its safe processing of extremely delicate information,” stated Tolga Tarhan, CTO, Rackspace Know-how. “We’re proud to accomplice with M1 Finance to transition its legacy course of and totally embrace clever automation capabilities, delivering essentially the most streamlined buyer expertise by a close to real-time resolution.”
The brand new resolution streamlined the method considerably, automating what was beforehand carried out manually over a number of hours to a virtually real-time resolution. The design of the answer gives scalability, low price, and integration with current information units. The answer additionally provides superior flexibility, changing the course of of getting to queue duties for an engineer with one the place information analysts can carry out advert hoc dynamic queries. M1 Finance enterprise customers now can construct strong queries at scale and deal with their multi-petabyte dimension information sources and return significant, well timed outcomes. This gives a big benefit in fraud detection the place each minute diminished in processing time can imply proportionately greater success and improved safety.
About Rackspace Know-how
Rackspace Technology is a number one end-to-end multicloud know-how companies firm. We are able to design, construct and function our prospects’ cloud environments throughout all main know-how platforms, no matter know-how stack or deployment mannequin. We accomplice with our prospects at each stage of their cloud journey, enabling them to modernize functions, construct new merchandise and undertake modern applied sciences.
About M1 Finance
Award-winning M1 helps folks handle and develop their cash in straightforward, sensible, automated methods – at no cost – on one built-in, safe platform. By combining investing, money administration, and portfolio traces of credit score, M1 gives a whole lot of hundreds of individuals with selection and management over their cash. M1 was named 2019 Finest Robo-Advisor for Refined Buyers and 2019 Finest for Socially Accountable Investing by Investopedia. For extra info or to create an account, please go to www.m1finance.com.
M1 Finance Disclosures
Brokerage services and products supplied by M1 Finance LLC, an SEC registered broker-dealer and Member FINRA / SIPC.
Investing in securities entails dangers, together with the chance of loss.
Rackspace Company Communications