Denmark's Saxo Bank has teamed up with Microsoft in a bid to run its entire technology stack on the cloud.
Saxo pitches itself as a "fintech specialist" focused on multi-asset trading and investment, working with clients in more than 170 countries and offering a 'banking-as-a-service' model that lets other banks and brokers tap into its tech.
The outfit now plans to run its entire platform on the Microsoft cloud, which it says will offer scalability, flexibility and security for its digital infrastructure.
"By leveraging the Microsoft Cloud, we can spend more time on developing technology and less time on running it, allowing us to continue to stay at the forefront of client focused digitisation and support our ambitious growth plans," says Kim Fournais, CEO, Saxo Bank.
Separately, Microsoft has also struck a cloud deal with BNY Mellon's Eagle Investment Systems. Microsoft Azure will power Eagle's new data management platform for investment managers.