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Home > Cloud Computing > Rackspace and M1 Finance accelerating fraud detection

Rackspace and M1 Finance accelerating fraud detection

Rackspace announced it brought expanded Amazon Web Services capabilities to M1 Finance.


Erdem Yasar Erdem Yasar
September 28, 2020
1 min read
Rackspace and M1 Finance accelerating fraud detection

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

Tolga Tarhan, CTO, Rackspace Technology
Tolga Tarhan, CTO, Rackspace Technology

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.”

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Tags: Amazon Web ServicesM1 FinanceRackspaceTolga Tarhan
Erdem Yasar

Erdem Yasar

Erdem Yasar is a news editor at Cloud7 News. Erdem started his career by writing video game reviews in 2007 for PC World magazine while he was studying computer engineering. In the following years, he focused on software development with various programming languages. After his graduation, he continued to work as an editor for several major tech-related websites and magazines. During the 2010s, Erdem Yasar shifted his focus to cloud computing, hosting, and data centers as they were becoming more popular topics in the tech industry. Erdem Yasar also worked with various industry-leading tech companies as a content creator by writing blog posts and other articles. Prior to his role at Cloud7 News, Erdem was the managing editor of T3 Magazine.

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