Financial firm UBS turned to Microsoft Azure cloud technology to power its digital transformation.
“Tremendous transformation is taking place in the financial services industry, and technology is increasingly providing a competitive advantage to firms,” said Judson Althoff, executive vice president, Worldwide Commercial Business, Microsoft Corp.
“UBS is a model of digital transformation in the financial services industry. With Microsoft Azure, the firm receives all the advanced technological and economic benefits of cloud technology. This is underscored by Microsoft’s investments in security, transparency and regulatory compliance, which enable UBS to innovate while doing business all over the globe.”
UBS is currently using Azure to power its risk-management platform to run millions of calculations daily on demand.
With Azure, the firm was able to speed calculation time by 100 percent, saving 40 percent in infrastructure costs, gaining nearly infinite scale within minutes.
“Increasing the agility and scalability of our technology infrastructure is crucial to the bank’s strategy,” said Paul McEwen, UBS Group Head of Technology Services, who is responsible for the entire Infrastructure Platforms Strategy and Support, driving the strategic planning for the bank’s intersection of business and IT needs.
UBS is partnering with Microsoft for opportunities to move more business applications to the Azure cloud.
The financial industry is one of the verticals strongly adopting cloud. Microsoft said more than 80 percent of the world’s largest banks and more than 75 percent of the global systemically important financial institutions use Azure. This represents the highest bar for legal, compliance, security and acquisitions teams.
