It is about Microsoft and Morgan Stanley, who decided to develop solutions that accelerate the digital transformation of the financial industry.
If something brought the pandemic, it is digitization of financial systems. This had different repercussions: on the one hand, the growth of fintech, from virtual wallets to the exchanges of cryptocurrencies; on the other, the traditional banking was forced to evolve towards online products.
While the financial solutions 4.0 seem to be expanding to faster and more innovative, banks begin to learn the new codes.
One of those that aims high in this regard is the bank Morgan Stanley, one of the most important in the world, which announced its strategic partnership with the technology giant Microsoft with the aim of working together to promote the digital transformation of financial services of the same financial multinational.
Both companies announced that their collaboration will be focused on developing a new application infrastructure that meets the requirements of the industry. That is, it must be innovative, bring together common data models, specific standards, inter-cloud connectors and allow managing workflows.
Multi-investment bank and broker Morgan Stanley teams up with Microsoft to drive the digital transformation of financial services
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Also, as part of the agreement, Microsoft will help Morgan Stanley accelerate its digitization in services, especially in its cloud adoption, in order to achieve “a modern, more flexible and scalable environment with the transition of workloads”, and provide better service and valuable information to its customers.
Microsoft Y Morgan Stanley They will design the new solutions to enable faster application deployment, focusing on finance functions.
The first will make its cloud platform available Azure and its technological experience, while the second will contribute its domain knowledge and engineering experience.
Microsoft will make its Azure cloud platform and technology expertise available as part of the agreement with Morgan Stanley
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“This partnership is a natural extension of our long engineering relationship and a strong collaborative bond forged in the enterprise space over the past decades,” he commented. Rob Rooney, firm’s chief technology, operations and resilience director at Morgan Stanley.
He added: “As we develop together to shape the future of the cloud, Morgan Stanley will share its deep domain knowledge and engineering expertise to address the complexities of a global regulated financial industry and help Microsoft improve its offering of cloud to stay at the forefront of customer-centric innovation. ”
For your part, with respect to the association, Scott Guthrie, Executive Vice President of Cloud and AI, Microsoft, assured that “By uniting Morgan Stanley’s financial services engineering expertise with Microsoft’s cloud and industry-specific expertise, our partnership will power innovation for the industry while ensuring strict adherence to regulatory and compliance guidelines.”
The companies envisage that their agreement will promote innovation in the industry, guarantee that financial services comply with the regulatory frameworks of the countries where they operate and can launch a wider range of products.
This includes developer tools and resources that enable faster delivery of applications and enhancements, especially to your customers and more than 15,000 financial advisers in wealth management; as well as easier data exchange with institutional clients with offers such as the portal API from Morgan Stanley that provides direct cloud connectivity.
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