Rackspace Technology Migrates FINCAD Application Resulting in Better Performance, More Automation and Streamlined Management for the Financial Services Company


SAN ANTONIO, May 13, 2021 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ: RXT), an end-to-end, multicloud technology solutions company, announced today its collaboration with FINCAD, a global provider of multi-asset valuation and risk analytics for derivatives and fixed income, to migrate its legacy application to Amazon Web Services (AWS) for better performance, more automation, and streamlined management.

FINCAD, a Canadian financial services company, builds software designed to value financial derivatives serving both retail and institutional investors, including banks, insurance companies and hedge funds. The software helps investors make informed investment and risk decisions with on-demand calculation and analysis of derivatives, alternative reference rates and pricing verifications.

FINCAD partnered with Onica, a Rackspace Technology company and an AWS Premier Consulting Partner, to provide support and guidance through the migration of FINCAD’s web application allowing it to run on more performant hardware, modernize the application, and integrate automation to streamline management.

“Taking an outcome-based, customer-focused approach, Rackspace Technology delivered FINCAD the technical assistance it needed to lift and shift its application to AWS, along with the tools and training required to manage and grow our environment into the future,” said Timothy Lee, Head of Support and Hosted Applications Operations at FINCAD. “The new environment, infused with automation and built on a modernized infrastructure, reduces errors, increases productivity and cuts costs for the FINCAD Hosted Operations team.”

In addition to the application migration, FINCAD is using the technology and knowledge gained from their Rackspace Technology engagement to move more elements to the cloud.

“Providing a Fanatical Experience is more than just technical execution; it’s setting customers up for success. Though FINCAD engaged for migration assistance, the Rackspace Technology team dug deeper to help the team simplify workflows and apply security, compliance and disaster recovery best practices,” said Jeff Deverter, CTO, Solutions at Rackspace Technology. “Beyond the technical aspects of moving the application to the cloud, Rackspace Technology also provided in-depth training with customized training modules to ensure that FINCAD could manage and optimize its AWS environment after the project handoff.”

About Rackspace Technology
Rackspace Technology is a leading end-to-end multicloud technology services company. We can design, build and operate our customers’ cloud environments across all major technology platforms, irrespective of technology stack or deployment model. We partner with our customers at every stage of their cloud journey, enabling them to modernize applications, build new products and adopt innovative technologies.

Media Contact
Natalie Silva
Rackspace Technology Corporate Communications