Amazon Simple Storage Service (S3) is an essential cornerstone of AWS and among its most popular service offerings. S3 allows tenants to store, secure, and retrieve data from S3 buckets on demand. It is widely used for its high availability, scalability, and performance. It supports six storage classes and several use cases, including website hosting, backups, application data storage, and data lake storage. There are two primary components of Amazon S3: Buckets and Objects.

As most people were preparing to celebrate the new year, the UK’s Santander Bank was dealing with a crisis. On Christmas day, roughly 75,000 people who received payments from companies with accounts at Santander Bank received a duplicate payment transaction. The total damage amounted to £130m, and recovery in these situations is a painful process for both the bank and its customers.

The fintech market grows larger and more diverse each day. The financial news website Market Screener says the global fintech market will be worth $26.5 trillion by 2022, with an average annual growth rate of 6%. In Europe alone, the use of financial technology increased by 72% during 2020. Competition in this market segment is also on the rise.