Saxo Bank and Microsoft partner to shape the future of cloud services in the financial industry
Saxo Bank aims to run its entire banking platform on Microsoft cloud thus providing an agile and highly secure environment for the Bank to accelerate its digital journey and democratize financial services.
REDMOND, Wash., and COPENHAGEN, Denmark — Apr. 24, 2018 Today, Microsoft and Saxo Bank announced a strategic partnership with the aim of running Saxo Bank’s entire technology stack on the Microsoft Cloud.
Financial services are at a transformational tipping point. It is key for financial organizations to harness data and cloud services as a strategic asset, shifting from hindsight to foresight closely hinged on security, privacy and regulatory compliance. With the partnership, Saxo Bank aims to be at the forefront of cloud-based solutions in the financial industry.
Saxo Bank is a leading fintech specialist focused on multi-asset trading and investment, servicing clients in more than 170 countries with access to investments in global capital markets and headquartered in Copenhagen, Denmark. Saxo Bank delivers “Banking-as-a-service” allowing other banks and brokers to leverage Saxo Bank’s technology and global capital markets access. Expecting the number and scale of partnerships to grow significantly, Saxo Bank has decided to leverage the Microsoft Cloud to ensure scalability, flexibility and security in the digital infrastructure.
“The future of financial services is cloud based and by partnering with Microsoft we take part in shaping this future. Saxo Bank was a fintech long before the term was created, and it is a natural step for us to also pioneer cloud-based solutions in financial services. 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 digitization and support our ambitious growth plans”, said Kim Fournais, founder and CEO, Saxo Bank.
A trusted platform is the foundation for running financial services in the cloud and organizations - like Saxo Bank - who continuously develop to stay at the forefront of technology will become the digital leaders of the future and maintain their competitive edge.
“We are excited to help Saxo Bank shape the future of trading and investment on our cloud platform. Saxo Bank is at the forefront of fintech and our partnership will enable financial service organizations to securely harness data to better serve their clients”, said Judson Althoff, Executive Vice President, Worldwide Commercial Business, Microsoft.
“We are proud to break new ground together with Microsoft and look forward to be working with key stakeholders such as regulators to ensure that cloud solutions continue to evolve and support the high regulatory standards that define the financial industry. At an early stage, we saw opportunities in using the internet and digital solutions to differentiate ourselves. Since we launched one of the first online investment platforms in 1998, we have been a Microsoft house, as such the Microsoft cloud is a natural fit for Saxo Bank”, said Kim Fournais, founder and CEO Saxo Bank.
Today, Saxo Bank supports more than 120 White Label partnerships globally. Through its unique trading and investment technology, Saxo Bank facilitates access to more than 35,000 financial instruments across multiple asset classes.
Microsoft (Nasdaq “MSFT” @microsoft) enables digital transformation for the era of an intelligent cloud and an intelligent edge. Its mission is to empower every person and every organization on the planet to achieve more.
Saxo Bank is a leading Fintech specialist and global multi-asset facilitator of capital markets products and services. Saxo enables private clients to trade more than 35,000 instruments from one single margin account.
Additionally, Saxo provides institutional clients such as banks and fintechs with Open Banking solutions from multi-asset execution, prime brokerage services to trading technology. Founded in 1992, Saxo Bank has embraced Open Banking from the beginning and is focused on helping clients and partners through win-win partnerships and product innovation.
Since launching its first online trading platform in 1998, Saxo Bank works to empower everyone to navigate their financial future by opening up access to trading and investment. The Saxo Group’s client assets total more than 45 billion euros, and the Group employs more than 2100 people in financial centres around the world including London, Singapore, Amsterdam, Shanghai, Hong Kong, Paris, Zurich, Dubai and Tokyo.For more information, please visit www.home.saxo.