Just like other sectors, the financial industry significantly benefits from the cloud. Powerful platforms such as Microsoft Azure and AWS are storming the financial industry. They deliver many tools and services to their clients to efficiently handle various generic functionality. Banks and other financial institutions leverage this innovative solution to increase agility and reduce risk.
Cloud-native technology is future-proof. It offers scalability, security, and value-added services. Jeffrey Severijn, CEO °neo by five°degrees, explains why they chose Microsoft Azure as the foundation for the cloud-native core banking platform °neo. “One of the biggest decisions we made in our company was to partner with Microsoft. We have learned that a good collaboration determines how your value proposition is delivered to your clients. Microsoft is the trusted partner for financial services.”
At five°degrees, our focal point is to develop functionalities where we can genuinely make a difference and leverage services where others can excel. Therefore, we use the services offered on Microsoft Azure to speed up the innovation of our platform.
A great example of a service offered by Microsoft Azure is the Logic Apps platform. A powerful solution to create and run automated workflows. Using logic apps also allows us to easily scale up the capacity and features of °neo by integrating other systems, services, and apps. But that is just one example of the many services we use. Microsoft Azure offers over 200 products and services, which are still growing.
Unlike other cloud platforms, Microsoft offers local support to its users through personalized customer communication. “You can tell they have a long-standing track record with banks and financial institutions. Most companies have at least one Microsoft product in their ecosystem. Microsoft, therefore, knows the industry and what it needs. They take the lead in regulatory and compliance challenges. Clients can count on them to be a partner in the solution.“ Severijn explains.
Severijn explains that continuous innovation was the third reason to select Microsoft Azure for the °neo platform. "We believe that to stay future-proof, one of the most important things is to partner with a cloud provider that keeps innovating and constantly improving its services. Microsoft shows that they share this vision. They add services to the platform regularly and have a clear roadmap."
Core banking needs to be flawless. °neo is a platform that allows users to develop, manage and run their core system in the cloud. As a (SaaS) platform provider, we need to guarantee secure and effective services. Due to its industry understanding, a vast offering of services, and future focus, Microsoft Azure is the best base to build SaaS services for banking. Working with them empowers us to meet our customer's needs and exceed their expectations.
Jeffrey Severijn has worked at five°degrees since 2016 as a member of the management team CTO and recently as CEO. As CEO, Jeffrey is responsible for the five°degrees' cloud-native core banking platform °neo, business operations, and strategies behind it.