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Bank of America Says It Saves $2 Billion Per Year By Ignoring Amazon and Microsoft and Building Its Own Cloud Instead

Bank of America has bucked the Wall Street trend by building its own private cloud software rather than outsourcing to companies like Amazon, Microsoft, and Google. From a report:

The investment, including a $350 million charge in 2017, hasn’t been cheap, but it has had a striking payoff, CEO Brian Moynihan said during the company’s third-quarter earnings call. He said the decision helped reduce the firm’s servers to 70,000 from 200,000 and its data centers to 23 from 60, and it has resulted in $2 billion in annual infrastructure savings.

As found on Slashdot: https://slashdot.org/story/362412

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