Amazon Web Services, a subsidiary of the ecommerce giant, has teamed up with banking software heavyweight Temenos to increase transaction times to record-breaking speeds.
The partnership will allow Amazon to process 100,000 transactions a second – the fastest ever recorded – with the help of online banking-grade software, City A.M. can reveal.
Amazon Web Services provides cloud computing platforms on a pay-as-you-go basis, and forms part of billionaire Jeff Bezos’ empire, now the world’s second wealthiest man behind Elon Musk.
The software has been created to withstand the weight of Amazon’s high demand, which exploded amid lockdown restrictions, as transactions are expected to continue their pandemic-era momentum over the next few years.
“Global non-cash transaction volumes are skyrocketing in response to fast-emerging trends like banking-as-a-service (BaaS) and Buy Now Pay Later (BNPL),” explained Bola Rotibi, a research director at CCS Insight.
“Automated flexibility and scale provide the adaptable control required to effectively support such growing demands.”