Latvian IT company’s program used to store data in the cloud

Latvian IT company has helped the British bank OakNorth to become one of the first banks in the UK to store its basic systems in the cloud. British financial supervisors and regulators recently authorized financial institutions to store the data in the cloud. Among the first to try storing the data in the cloud is OakNorth Bank. The bank is what is known in the UK “a challenger’’ or new model bank – recently established relatively smaller banks created to strengthen competition in the country’s banking market. Utilizing Athena, the platform developed by, OakNorth system was integrated into external data systems that store data related to credit, bank accounts, addresses and other information mainly specializes in IT project in the financial sector and majority of the company's clients are non-life insurance companies, commercial banks, fund managers and related organizations. The company provide IT consultations, computer software programming as well as other types of computer services. Founded in 2008, focuses mostly on export services and its key markets are UK, Scandinavia and CIS (Commonwealth of Independent States). In 2015, turned over EUR 3.632 million and earned EUR 771,394 in profit.

Source: LETA