Microsoft, Google win Cloud deal from Wells Fargo, beating AWS

Wells Fargo, which serves one in three U.S. households and more than 10 percent of small businesses in the U.S., has selected Microsoft and Google as its public cloud providers.
Microsoft share in Cloud market in Q2 2021Microsoft’s Azure, the #2 Cloud provider with 20 percent share, will serve as Wells Fargo’s primary cloud provider.

Google Cloud, the #3 Cloud provider with 10 percent share of the global market, will be providing additional business-critical public cloud services.

Amazon Web Services (AWS), the #1 cloud provider in the world with 33 percent share, did not win the deal.

“Launching our new digital infrastructure strategy is a critical step in our multiyear journey to transform Wells Fargo, making it easier for customers to do business with us and creating a better working experience for our employees,” said Saul Van Beurden, Wells Fargo’s head of Technology.

Wells Fargo, as part of its digital infrastructure strategy, will move towards some third party-owned data centers, as it aims to rely predominantly on public cloud in the longer term.

The move makes Wells Fargo the latest big bank to use third-party data centers for cloud-related services.

Multi-cloud enables flexibility and also allows businesses to off-load some of the heavy costs of running their own data centers by renting public ones.

“By standardizing on the Microsoft cloud and trusting Azure as its most strategic and primary cloud platform across all lines of business, Wells Fargo will be able to advance its key business and technology transformation priorities across core areas,” Judson Althoff, Microsoft’s Chief Commercial Officer, said.

Rob Enslin, President of Google Cloud, said: “Google Cloud is committed to providing financial institutions with cloud technology that empowers banks to evolve, and to create digital experiences that customers demand.”