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InvestmentNews

Meet the firm powering digital innovation at Vanguard and Betterment — Amazon

By Ryan Neal

Migrating to a public cloud allowed Betterment to launch new business lines — its white-label robo, Betterment for Advisors, and its 401(k) offering, Betterment for Business.

“We recognized that as we were going to scale, we needed to be a bit more nimble,” Mr. Beniwal said. “It meant that we needed to be able to scale out the capacity we had relatively quickly.”

Robo-advisers like Betterment have helped push the wealth management industry toward adopting modern technology. While moving to a cloud like AWS can help established firms achieve that, Mr. Beniwal said that firms can’t just throw code into the cloud and expect it to work. There has to be a commitment from the top of the organization to develop technology that meets consumers’ needs.

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This article originally published May 9th, 2018 on InvestmentNews