NEW YORK, Nov. 11, 2013 (GLOBE NEWSWIRE) -- Kindling, a cloud-based platform that powers innovation programs by utilizing social and collaboration technology, announced today that the company will use NASDAQ OMX FinQloud, a cloud computing platform designed exclusively for the financial services sector and powered by Amazon Web Services (AWS).
The FinQloud platform allows Kindling to process and store data for some of the largest financial institutions around the world. Kindling's utilization of the highly scalable FinQloud platform will build on their current Amazon Web Services (AWS) infrastructure. By operating within FinQloud, Kindling's financial services customers will be able to engage and collaborate on transformational ideas, organize customized workflows that drive sustained innovation, prioritize initiatives and allocation of resources, and utilize analytics for reporting.
"The financial services industry is undergoing a tremendous amount of change. The need for innovation isn't a nice-to-have, it's a must, and it requires an organization-wide commitment," said Steve Finnern, Chief Revenue Officer of Kindling. "We believe our partnership with FinQloud will address many top-of-mind challenges for our financial services customers, including uncovering new ways of differentiation, helping to gain market traction, and finding new efficiencies; all the while continuing to protect sensitive customer and employee information."
By leveraging FinQloud, Kindling is able to scale to meet the demands of large financial services companies, and deliver enhanced features and business partnerships within the FinQloud ecosystem. As a service operated within FinQloud, Kindling will be able to provide the R3 solution to financial services firms to meet increased regulatory requirements.
"FinQloud provides Kindling with the cloud-based technology necessary to host discussions which generate ideas, solve problems and identify opportunities within the financial services community," said Julia Sears, Associate Vice President of FinQloud at NASDAQ OMX. "We are pleased to welcome Kindling and look forward to supporting their efforts to foster innovation within FinQloud."
Based in New York City, Kindling is a smarter social innovation platform which ignites creativity across disciplines and departments within an organization. Kindling leverages your organization's creative potential into a community of innovators. Kindling's clients span the globe and range from early stage startups to multinational corporations.
Ideas are everywhere — uncover, share, discuss, evaluate and realize your ideas.
NASDAQ OMX FinQloud, powered by Amazon Web Services, is a cloud computing platform designed exclusively for the financial services sector. FinQloud offers a suite of storage and compute services, including R3 which combines AWS cloud computing expertise with enhanced security from NASDAQ OMX to provide cost-effective and efficient management, storage and processing of financial data. FinQloud helps firms significantly reduce the operational costs and complexities associated with data and infrastructure management – enabling more effective deployment of scarce resources.
A product of NASDAQ OMX's unique financial technology domain expertise and Amazon's flexible and cost-effective cloud infrastructure, R3 enables financial market participants to benefit from the economic and performance advantages of cloud computing, in a manner designed to help firms comply with regulatory requirements. Flexible, reliable and highly scalable, FinQloud is fully-managed and designed to immediately help firms reduce their technology burden, and refocus resources on revenue driving activities, even as data volumes and regulatory initiatives continually rise. To learn more visit www.nasdaqomx.com/FinQloud or contact FinQloud@nasdaqomx.com
About NASDAQ OMX:
The inventor of the electronic exchange, The NASDAQ OMX Group, Inc., fuels economies and provides transformative technologies for the entire lifecycle of a trade - from risk management to trade to surveillance to clearing. In the U.S. and Europe, we own and operate 26 markets, 3 clearinghouses and 5 central securities depositories supporting equities, options, fixed income, derivatives, commodities, futures and structured products. Able to process more than 1 million messages per second at sub-40 microsecond speeds with 99.99% uptime, our technology drives more than 70 marketplaces in 50 developed and emerging countries into the future, powering 1 in 10 of the world's securities transactions. Our award-winning data products and worldwide indexes are the benchmarks in the financial industry. Home to approximately 3,400 listed companies worth $6 trillion in market cap whose innovations shape our world, we give the ideas of tomorrow access to capital today. Welcome to where the world takes a big leap forward, daily. Welcome to the NASDAQ OMX Century. To learn more, visit nasdaqomx.com. Follow us on Facebook (http://www.facebook.com/NASDAQ) and Twitter (http://www.twitter.com/nasdaqomx). (Symbol: NDAQ and member of S&P 500)
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about FinQloud and NASDAQ OMX's other products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond NASDAQ OMX's control. These factors include, but are not limited to factors detailed in NASDAQ OMX's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.
CONTACT: Kindling Media Contact: Nicole Silver +1 (877) 568-8355 email@example.com NASDAQ OMX Media Contact: Robert Madden +1 (646) 441-5045 (office) +1 (347) 740-0191 (mobile) Robert.Madden@NASDAQOMX.com
Source:The NASDAQ OMX Group, Inc.; Kindling