Multicloud technology solutions company Rackspace announced that it brought expanded AWS capabilities to Chicago-based online financial services company, M1 Finance. Rackspace will help M1 Finance to accelerate fraud detection and enable real-time dynamic data querying through an efficient data pipeline. M1 Finance provides an innovative money management application for intelligent investors seeking access to features, including automation, leverage investing, and banking services, all wrapped into one integrated solution.
200,000 accounts, $2 billion in assets
M1 Finance has experienced significant growth, with more than 200,000 accounts totaling approximately $2 billion in assets and counting. With Rackspace’s support, M1 Finance aims to provide a seamless interface with robust security and fraud detection. Rackspace announced that the new solution streamlined the process significantly, automating what was previously done manually over multiple hours to a practically real-time solution. The solution provides scalability, low cost, and integration with existing data sets. Rackspace also stated that the solution also provides superior flexibility, replacing the process of having to queue tasks for an engineer with one where data analysts can perform ad hoc dynamic queries. Tolga Tarhan, CTO, Rackspace Technology said,
“Intelligent investors will benefit greatly from the data analytics advances M1 Finance has made to accelerate its secure processing of highly sensitive data. We’re proud to partner with M1 Finance to transition its legacy process and fully embrace intelligent automation capabilities, delivering the most streamlined customer experience through a near real-time solution.”