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Deutsche Börse is successfully moving forward with the expansion of its cloud strategy. By signing a contract with Google Cloud, Deutsche Börse will have a further strong partner on board to provide its cloud services for migrating material workloads to public cloud, fully addressing regulatory requirements.
Deutsche Börse will develop and operate complex enterprise workloads on Google Cloud while meeting security and compliance concerns that are specific to the financial services industry, such as audit rights. Based on Google’s extensive security offering, the partners are further working together to co-engineer security and data privacy solutions for the financial services industry. Google Cloud will help to accelerate Deutsche Börse’s push into new technologies such as big data and analytics, automation/machine learning/AI and DLT/blockchain and help to deliver benefits from agile implementation of new functionalities as well as reduced operational costs through higher efficiency from further automation.
With this partnership, Deutsche Börse will strengthen its cloud migration initiatives and pave the way for broad cloud adoption. The company is following a multi-vendor strategy for cloud usage, leveraging each provider’s strength and avoiding dependencies from single partner set-ups. By entering into a partnership with Microsoft earlier this year, Deutsche Börse set new contract standards in the European financial services industry. This enables the launch of regulated workloads into cloud, including services that are typically provided by financial institutions being considered essential for the respective core business. Addressing regulatory requirements Deutsche Börse and eight other European financial institutions are pooling together audit capacity, significantly reducing efforts for all parties to execute a group audit.
“The Google Cloud is an enabler for innovation and a perfect fit to unlock further potential for our clients and us as a company,” said Christoph Böhm, member of the Executive Board of Deutsche Börse AG. “As part of this partnership, we will jointly define new solutions that further push ahead data security and privacy for the financial services industry. This will add to Google Cloud’s existing comprehensive security and transparency features, which are key for our industry and Deutsche Börse’s data-driven business model.”
“Google Cloud is at the forefront of technology and is dedicated to supporting our partner Deutsche Börse on its journey to the cloud,” said Annette Maier, Managing Director Google Cloud Germany. “The partnership enables Deutsche Börse to lead into its digitised future. We are looking forward to driving secure cloud-based solutions for the financial services industry to a next level and to harvesting the fruits of this collaboration.”
As a key technology, cloud shapes the future, laying out the foundation for enabling further major initiatives focusing on new technologies. These are integral part of Deutsche Börse Group’s growth strategy Roadmap 2020.
