Morgan Stanley announced that the Microsoft Azure cloud platform is preparing to host a portion of its core workloads under a new deal with the technology company, which will also see the development of new cloud features that are expected to benefit the bank’s clients and eventually the entire financial services sector, according to The Wall Street Journal.
According to Morgan Stanley, the applications planned for transition to the cloud include the more computation-heavy applications such as its risk systems as well as its client-facing applications and data and analytics workloads. The bank will also encourage its employees to use Microsoft’s cloud-based tools more heavily in their collaboration activities.
Rob Rooney, Morgan Stanley’s head of technology, operations and firm resilience, said the two companies are tasking their engineers to develop features to speed up innovation and preparation of products headed to the market. Among the teams’ goals is enhancement of the encryption at Azure’s data lake and development of security protocols customized for the financial services sector.
According to Morgan Stanley, the applications planned for transition to the cloud include the more computation-heavy applications such as its risk systems as well as its client-facing applications and data and analytics workloads. The bank will also encourage its employees to use Microsoft’s cloud-based tools more heavily in their collaboration activities.
Rob Rooney, Morgan Stanley’s head of technology, operations and firm resilience, said the two companies are tasking their engineers to develop features to speed up innovation and preparation of products headed to the market. Among the teams’ goals is enhancement of the encryption at Azure’s data lake and development of security protocols customized for the financial services sector.
