Rackspace Technology enables early adoption of AWS cloud services for Precia to innovate and spearhead valuation methodologies


Rackspace Technology, the end-to-end multicloud technology solutions company, announced it has enabled early adoption of AWS cloud services for Precia, a regional provider of valuation solutions and financial portfolio management, by innovating and spearheading the adoption of the AWS cloud services.

Precia, a subsidiary of the Colombian Stock Exchange, provides regional valuation and management solutions for financial portfolios. Its goal is to develop and operate fair-value calculation methodologies for all instruments on the balance sheet of financial sector entities, including fixed-income securities, equities, derivatives, structured products, companies that aren’t listed on the stock exchange and other assets.

Precia began analysing market options, and IT analyst reports in 2014 and chose AWS cloud services for its infrastructure and quick deployment capabilities. Rackspace Technology became an extension of Precia's technology team and offered continuous feedback, leading to quick and efficient results without any downtime via AWS Managed Services.

“By partnering with Rackspace Technology, Precia has achieved a leading position in its industry via the AWS platform,” said Jeff DeVerter, Rackspace Technology Chief Technology Evangelist. “Thanks to increased response times, speed has become a new product by itself, which has allowed Precia to be more agile when responding to customer needs.”

Precia has earned the distinction of being the first company in the Colombian financial market to migrate workloads to the cloud and secured its place as an organization that’s able to contribute to the stability of Columbia’s financial system.

"Rackspace Technology has proven to be the partner that truly has the knowledge and support to handle the biggest issues. They know how cloud technology works and have the partnerships and expertise to make it a reality,” said Juan Manuel Quintero, CEO of Precia. “By incorporating Rackspace Technology as its ally, Precia is more than looking for new infrastructure: it is looking for a way to do things differently. With better response times achieved, speed has become a new product, allowing them to be more agile in responding to clients' needs as part of the innovation process.”

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