UBS Expands Microsoft Cloud Partnership To Accelerate Its Digital Transformation Ambitions

UBS Expands Microsoft Cloud Partnership To Accelerate Its Digital Transformation Ambitions
  • UBS Group AG UBS and Microsoft Corp MSFT expanded their partnership to accelerate UBS's public cloud footprint over the next five years
  • UBS plans to have more than 50% of its applications, including critical workloads, running on Microsoft Azure, now UBS's primary cloud platform, through this transformational initiative. 
  • The partnership furthers UBS's "cloud-first" strategy and the modernization of its global technology estate.
  • Through this partnership, UBS will have access to the most comprehensive cloud platform, enabling the firm to increase the speed at which it can deliver and improve upon its digital experiences for clients and employees. 
  • At the same time, Azure will help advance UBS's sustainability initiatives, drive operational efficiencies, and maintain its standards for compliance and security.
  • In 2018, when UBS announced its cloud strategy, leveraging its strategic partnership with Microsoft, it planned to move one-third of its applications to the public cloud within four years. Still, it accomplished this goal early in February 2021.
  • In July, Microsoft urged other big-name cloud-computing providers to urge the U.S. to spread its spending on such services more widely to curb Amazon.com Inc's AMZN dominance in such contracts.
  • Microsoft pitched other cloud companies to lobby the U.S. jointly, requiring significant government projects to use multi-cloud service providers.
  • Amazon dominated the cloud-infrastructure industry with a 39% share of the 2021 global market, ahead of Microsoft in the second position with a 21% share.
  • Price Action: UBS shares traded higher by 0.90% at $238.58 on the last check Thursday.
  • Photo by Rainer Stropek via Flickr

 

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