Global wealth management firm UBS has adopted the Microsoft Azure cloud platform to introduce new digital channels and improve business agility and security, while reducing costs.
UBS is currently using Microsoft Azure to power its risk management platform and run millions of calculations per day. This has accelerated calculation time by 100% and reduced infrastructure costs by 40%, enabling employees to make quicker, more informed decisions for their clients. It also gives UBS access to more working capital.
“Increasing the agility and scalability of our technology infrastructure is crucial to the bank’s strategy,” said Paul McEwen, group head of technology services at UBS Group. “With Microsoft Azure, we are building on the industry’s leading cloud platform in terms of innovation, technology, security and regulatory compliance, which is very important as a Swiss financial institution.”
UBS is now working with Microsoft to explore other opportunities to move more business applications to Azure. The company is one of many financial services institutions to adopt the Microsoft cloud, joining more than 80% of the world’s largest banks.
“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 of Worldwide Commercial Business at Microsoft. “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.”
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