Cloud Migration Case Study : Open Yield

Technical diagram comparing legacy system components with their modern counterparts in AWS cloud, highlighting the scalability, resilience, and automation benefits enabled through microservices, Terraform orchestration, and serverless compute.

Business Challenge:

OpenYield identified the critical need to fortify its application platform’s security while ensuring its ability to scale effectively to meet growing demand. This was essential not only for operational excellence but also to align with the stringent regulatory requirements of the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC). The primary goal was to create an AWS environment that could support OpenYield’s innovative market model without compromising on security or scalability.

Solutions:

We, an AWS Advanced Tier consulting partner, designed a robust AWS solution to meet OpenYield’s complex needs. The project focused on:

• Security Enhancement: Implementing stringent security measures at all layers of the AWS environment, preparing for third-party penetration and vulnerability testing.
• Regulatory Compliance: Ensuring the architecture aligned with FINRA and SEC regulations through meticulous planning and execution.
• Knowledge Transfer: Facilitating a continuous exchange of insights between the PREDICTif and OpenYield teams to ensure a deep understanding and ownership of the final architecture.
• The solution emphasized encryption, principle of least privilege, proactive monitoring, and comprehensive compliance strategies, utilizing AWS services like AWS CloudTrail, Amazon CloudWatch, Amazon Managed Grafana, AWS Config, AWS Systems Manager, AWS Network Firewall and AWS WAF to construct a fortified and modernized infrastructure.

Results:

The collaboration between OpenYield and PREDICTif Solutions has set a new benchmark for security and scalability in the financial technology sector. Key outcomes include:

• Robust Security and Compliance: Achieved a high-security benchmark, ready for rigorous third-party testing, and aligned with financial regulatory standards.
• Scalable and Efficient Infrastructure: Established a scalable AWS environment that supports OpenYield’s growth and innovation in bond market accessibility.
• Empowered Team: Enhanced the OpenYield team’s confidence and capability in managing and evolving their AWS infrastructure through comprehensive knowledge transfer.

Technology Stack:

The project leveraged a suite of AWS services to meet its comprehensive security, compliance, and scalability goals, including but not limited to Amazon EC2, AWS CloudTrail, Amazon CloudWatch, Amazon Managed Grafana, AWS Config, AWS Systems Manager, Amazon Aurora I/O Optimized, Amazon ElastiCache, AWS Network Firewall, Amazon S3 and AWS WAF. These services were instrumental in building a secure, compliant, and efficient infrastructure that supports OpenYield’s mission to simplify fixed income investing for the retail community.