S3 Is the New SFTP

Fintech companies handle diverse data processing tasks, including shuffling files between vendors and partners, often using SFTP. Transitioning to modern data lakehouses using S3, Apache Iceberg, and Apache Parquet can centralize and streamline this process. This new method allows ease of access and management while maintaining advantages such as fast transfers and central access control. Although challenges like schema evolution remain, adopting data lakehouses can benefit companies seeking efficient and scalable data solutions. The trend is supported by rising customer demand and the involvement of startups providing innovative data export platforms.