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.
About Microsoft
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.
At Saxo we believe that when you invest, you unlock a new curiosity for the world around you. As a provider of multi-asset trading and investment solutions, Saxo’s purpose is to Get Curious People Invested in the World. We are committed to enabling our clients to make more of their money. Saxo was founded in Copenhagen, Denmark in 1992 with a clear vision: to make the global financial markets accessible for more people. In 1998, Saxo launched one of the first online trading platforms in Europe, providing professional-grade tools and easy access to global financial markets for anyone who wanted to invest.
Today, Saxo is an international award-winning investment firm for investors and traders who are serious about making more of their money. As a well-capitalised and profitable Fintech, Saxo is a fully licensed bank under the supervision of the Danish FSA, holding broker and banking licenses in multiple jurisdictions. As one of the earliest fintechs in the world, Saxo continues to invest heavily into our technology. Saxo’s clients and partners enjoy broad access to global capital markets across asset classes on our industry-leading platforms. Our open banking technology also powers more than 200 financial institutions as partners by boosting the investment experience they can offer their clients. Keeping our headquarters in Copenhagen, Saxo has more than 2,500 professionals in financial centres around the world including London, Singapore, Amsterdam, Hong Kong, Zurich, Dubai and Tokyo.
For more information, please visit: www.home.saxo