UBS, the world’s largest wealth management firm, has moved its risk management platform to Microsoft Azure cloud technology.
UBS’s risk-management platform requires enormous computing power to run millions of calculations daily on demand.
The move to Azure has speeded up calculation time by 100%, saved 40% in infrastructure costs, and gained nearly infinite scale within minutes, says Microsoft.
All this means the Swiss bank can have more working capital on hand and employees can make quicker, more informed decisions for their clients.
Another key factor in the move is regulations, with Microsoft boasting that its FS compliance programme reassures both UBS and watchdogs that data is secured and risks mitigated.
UBS is planning on moving more application to the Azure cloud, with head of technology services Paul McEwen saying: “Increasing the agility and scalability of our technology infrastructure is crucial to the bank’s strategy.”