Danish financial tech leader Saxo Bank announced today that they have entered a strategic partnership with Microsoft to move the group to the Microsoft Cloud. The move comes at a time when more banks and brokers are leveraging Saxo Bank’s “banking as a service,” technologies, and should enable more security, flexibility, and security in financial infrastructure.
In a statement, Kim Fournais, founder and CEO Saxo Bank reflected on the partnership and said the company is looking forward to working with Microsoft. “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 Fournais.
Judson Althoff, Executive Vice President, Worldwide Commercial Business, Microsoft, also shared a similar statement, mentioning the potential success the partnership. “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.”
Saxo Bank supports more than 120 White Label partnerships globally and facilitates access to more than 35,000 financial instruments across multiple asset classes.