Mirae Asset Global Investments (MAGI) has becomes the first financial firm in S. Korea to go for a cloud-based web server service. It has chosen Amazon Web Services (AWS) as its cloud computing provider.
The asset management arm of Mirae Asset Financial Group has maintained online and mobile communication with customers via nearly 10 websites. As the importance of online services has grown, it has decided to embrace cloud computing, according to the company.
With cloud computing, companies don’t have to own their own physical web servers because they can access as many computing resources (e.g. servers, storage) as they need, depending on the demands of their website, over the Internet.
MAGI will apply cloud-based web servers to the group’s global website, the website of Mirae Asset Retirement Institute and the websites of its overseas subsidiaries. It plans to turn its domestic websites, linked to public announcements or benchmark price setting, into cloud-hosted ones later on.
According to the results of MAGI’s own simulation prior to the cloud adoption, there was a 50% improvement in website access speeds for domestic traffic and a 300% improvement for international traffic. Besides, as the management of computing resources, such as servers, networks, databases and security, becomes unified, annual maintenance costs is estimated to more than halve.
MAGI’s global network covers 12 countries. Backed by its well-performing offshore funds, such as SICAV, it has seen a pickup in international traffic to its websites.
Therefore, MAGI is set to provide a web service environment catering to overseas investors’ needs by adopting the cloud that is of great use to expanding global companies.
