Fidelity International takes home HKB Technology Excellence Awards for cloud migration

The adoption of cloud was done in partnership with AWS and Microsoft Azure Cloud.

Global asset manager Fidelity International (Fidelity) won the Cloud - Financial Services category at the HKB Technology Excellence Awards 2023 for its successful adoption of cloud at scale, migrating its Asia business workloads to both AWS and Microsoft Azure Cloud.

Fidelity chose partners in this process to fully understand the approach, not only on how to migrate to the cloud but also how to achieve its goals linked to Automating Everything, designing for security, embracing agile, meeting governance and regulatory needs across Asia, and remaining cost-conscious and efficient in delivering the right business value.

The fundamental principle of Automating Everything was clear for the programme. Fidelity designed, engineered, and built out over 80 new InnerSource Infrastructure As Code modules to be reused not just in Asia but firm wide so future cloud migrations meet its global Cloud objective.

Fidelity has also created a new Finance Operations (FinOps) function to educate and track the changing nature of cost transparency in the cloud. The firm invested heavily in its people via dedicated learning paths for Cloud, Ways of Working, and also a new operating model around cross-functional teams.

Since the end of 2022, Fidelity has migrated the Asia workloads to AWS and Azure and closed down the Hong Kong and Japan data centres. All of this has been achieved without major incident and delivered under budget with increased performance.

“Fidelity International is pleased to be recognised in the HKB Technology Excellence Awards for cloud migration. Building a scalable, efficient business is key to ensuring we can adapt at speed, accelerate innovation, and focus on our clients,” the company said.

HKB Technology Excellence Awards, now in its fourth year, is presented by Hong Kong Business magazine. It aims to honour outstanding companies that made exceptional contributions in pursuit of technological innovation.

The Hong Kong Business Technology Excellence Awards is presented by Hong Kong Business Magazine. To view the full list of winners, click here. If you want to join the 2024 awards programme and be acclaimed for your company's outstanding contributions in pursuit of technological innovation, please contact Julie Anne Nuñez at [email protected].