U.S. Bank partners Microsoft for cloud banking tech upgrade
U.S. Bank has partnered with tech titan Microsoft as part of a significant investment in its technology infrastructure.
The bank has selected Microsoft Azure as its primary cloud provider for its application portfolio as it seeks to modernise in an increasingly digital world.
U.S. Bank president, chair and CEO Andy Cecere says: “It has been a dramatic time of change in the banking industry, where success is increasingly driven by technology capabilities.”
Cecere adds the cloud-first partnership with Microsoft Azure will provide “extreme flexibility and a bank that is simple to navigate and capable of quickly adjusting to customers’ evolving needs”.
Following the upgrade, U.S. Bank says it will be able to rapidly access and analyse data, speed up the release of new products for customers and partners through APIs and access to data, and scale services at a faster rate.
Artificial intelligence (AI) and machine learning (ML) will also be utilised to support the bank’s applications and infrastructure as well as bolster customer privacy and the security of data and financial assets.
In addition, the two partners will work together on taking advantage of “an ever-evolving financial services marketplace”, the bank says.
Microsoft CEO and chair Satya Nadella adds: “More than ever, every financial services organisation will need to build its own digital capability to meet both evolving customer demands and changing employee expectations.”