Amazon just opened the door for fintech startups to compete with the likes of Accenture and Capgemini

David slings the stone by J James Tissot. JJT: French painter, 15 October 1836 – 8 August 1902. (Photo by Culture Club/Getty Images)

A fintech startup might find it difficult to prove its chops to a sceptical and conservative audience. But if it uses the Amazon cloud, it can now hold up a certificate to say it’s as good as any big consultancy.

Amazon Web Services, the internet giant’s cloud computing arm, today announced the launch of its Financial Services Competency, which will recognise technology and consulting partners that specialise in the financial industry.

The competency is open for any Amazon partner company to apply for, with the applicant put through multiple rigorous criteria before the certification is awarded. Foundation members include big names such as Accenture, Capgemini, Cognizant and Infosys, AWS announced at its re:Invent conference at Las Vegas.

Amazon Web Services is a popular way for startups with fluid customer demands to outsource computing infrastructure, as it can be scaled up or down at the press of a button and you only pay for what you use.

“More than 10,000 new partners have joined the Amazon Partner Network in the past 12 months, offering customers an ever-expanding selection of software solutions hosted on, or integrated with, AWS,” the company stated.

At the event, Amazon also launched the Internet of Things Competency, which honours partners that provide technology that goes towards “intelligent factories, smart cities, energy, automotive, transportation and healthcare”. Accenture, Intel and Splunk are some of the foundation members of the IoT certification.

AWS runs its own marketplace for startups to directly sell their apps to business customers. The internet giant revealed today that the AWS Marketplace now has 3,500 pieces of software available from over 1,100 companies, and that “more than 100,000” customers are active in the market.

The journalist travelled to AWS re:Invent in Las Vegas as a guest of Amazon.

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