Bank of America — as part of its digital transformation — will utilize Microsoft Cloud for business efficiency, change in digital culture and customer needs.
Microsoft Office 365 will provide Cloud-based productivity and collaboration tools to 200,000 employees of Bank of America. Bank of America will also utilize Microsoft Azure.
“We are modernizing our technology infrastructure to enable current and future growth across all our lines of business,” said Howard Boville, chief technology officer at Bank of America.
Microsoft said Bank of America has a target of delivering 80 percent of technology workloads on virtual platforms within the next several years.
Judson Althoff, executive vice president, Worldwide Commercial Business, Microsoft, said Bank of America is taking a strategic approach to cloud, looking at technology as a means to drive change and open up new business opportunities.
Microsoft said more than 80 percent of the world’s largest banks and more than 75 percent of the systemically important financial institutions are using Azure.
Bank of America serves 47 million consumer and small business relationships with approximately 4,600 retail financial centers, approximately 15,900 ATMs, and digital banking with approximately 35 million active users and more than 22 million mobile users.
