Popular Servers for the Fintech Industry
Whether one favors it or not, modern-day servers have dramatically changed the landscape in FinTech industry. Every day, we use some of their products to create solutions for our customers. Majority of them are located in the West and are key players in FinTech, so let’s compare the top servers for the FinTech industry, what they offer.
Read more about the Fintech Metrics and FinTech impact on Hedge Funds.
1. AWS
Amazon founded AWS in 2006 as one of the first distributors of cloud services. AWS was able to grow so large before the competition due to its massive investments in the early phases of the server industry that it is now difficult to compete with it. Interestingly, AWS can be traced back to the early 2000s, when Amazon struggled to develop Merchant.com, an innovative e-commerce-as-a-service system that would allow merchants to create their own web-based stores.
IPs
Due to the tangible presence of servers in 90 cities across 47 countries, AWS is able to serve virtually all countries effectively today. Such a distributed system architecture permits minimal data transfer latencies.
Pricing
The fees are determined using a pay-as-you-go model. Subscribers are free to select and pay for the computing resources they require.
Pros
As the market leader in the server industry, AWS offers tremendous capacity, flexible terms, simple access to established consulting partners globally, and compatibility with all FinTech-relevant technologies. AWS provides complete solutions, beginning with servers and ending with embedded operating systems in Edge devices.
Cons
Unfortunately, quality may come at a price. Despite Amazon’s frequent announcements of prospective price reductions, the service has not become less expensive since 2014. Also, if a client is highly dependent on Amazon products, transitioning to a different server provider can be difficult and costly.
2. Azure
Microsoft made its first steps toward introducing its cloud services in 2005, when it occupied Groove Networks. Then, in 2008, Microsoft announced Azure. However, it required an additional two years to launch the service publicly. The platform was meant to operate on a dedicated Windows Azure system that was positioned as a competitor to Amazon EC2 and Google Apps Engine. In its early days, however, it was not flexible enough and only catered to a small subset of developers. As is typical for Microsoft, it took years of wacky experimentation to develop a cloud platform that would be beneficial to a large audience, but it’s finally here.
IPs
Azure is distributed across 54 regions, each with its own infrastructure. It does not make Azure the most accessible server, but it does make it a useful one. Every region provides at least three availability zones, allowing customers to operate two or more isolated instances of their applications.
Pricing
Azure’s pricing mechanism is similar to that of AWS. However, it is more affordable.
Pros
Azure is highly adaptable and compatible due to its partnership with Oracle, VMware, and SAP, as well as its widest service offering among other server providers. Azure’s use cases are endless. In addition, Microsoft provides a number of specialized tools that make developing apps for Azure effortless.
Cons
Microsoft’s support is not inexpensive, despite the fact that Azure pricing is reasonable. Other providers have additional availability zones. Worst of all, Azure cannot guarantee its clients the capacity for which they pay, which was a problem during the COVID-caused surge.
3. Google Cloud
Google chose to utilize the same infrastructure they used for existing services, such as Google Search, Gmail, and YouTube. Then, Google announced App Engine, a platform dedicated to app development and hosting on Google-managed servers. In November 2011, following this initial step toward cloud computing, the service became broadly accessible.
IPs
Google Cloud is accessible in 200 different countries spanning 25 regions. Additionally, it is separated into 76 zones and 144 network Edge locations. For optimal availability, Google suggests running isolated copies of applications on servers in multiple locations.
Pricing
Google Cloud employs the same pay-as-you-go model as its primary competitors. Google offers new clients $300 in complimentary credits to be used within 90 days, and it has a startup-specific program. They can receive at least $2,000 in credits for a head start.
Pros
Google Servers excel in the disciplines of big data, machine learning, and data science as a result of the infrastructure built on Google’s core competencies. It also provides a complete Ai platform that employs TensorFlow units.
Cons
Google struggles to establish itself as an established business solutions provider because it is primarily a consumer-focused business. It is evident in the immaturity of its offerings, which are inferior to those of AWS and Azure. However, despite its size, Google’s services are well-managed and perform admirably.
Conclusion
Fintech servers have revolutionized the financial industry by enabling secure and efficient transactions. As technology continues to evolve, fintech servers will undoubtedly evolve too, bringing even more advancements and opportunities to the financial industry. The most suitable and fast servers for fintech are Google servers. But to save few bucks, you can pick AWZ and AZURE.
