Global payment processing company Wex Inc. has completed its primary cloud migration.

In a Form 10-K annual report, Wex disclosed that it had "accomplished its cloud migration goal with the full migration of the benefits segment in the third quarter of 2023."

While the report does not disclose the cloud provider that Wex moved to, the company in 2021 announced that it was entering into a multiyear migration to Amazon Web Services (AWS).

“The financial technology payments space requires immediate scalability with subsecond response times for creating and processing cards,” Mark Aquilina, SVP of product and strategy for corporate payment solutions at Wex, said at the time.

“Before we migrated to AWS, it took us two to three seconds to generate cards and facilitate card payments. After migrating our proprietary processing environment to AWS, we were able to process almost all card requests in subseconds. This has been critical to our success in signing multiple large global online travel agencies and financial technology partners.”

In the SEC filing, Wex said that "all of our core technology is now cloud-based. In an effort to reduce our dependency on physical data centers, during the fourth quarter of 2023 we achieved our data center reduction goal of consolidating from 33 data centers in 2019 to seven by the end of 2023.

"We will continue our cloud-first development philosophy, which enables improved data security, infrastructure resiliency, system availability, and speed to market."

Wex Inc. is a payment processing and information management services company focused on the vehicle fleet industry, employee benefits, and business payments.