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Bank of England frets over stability of Big Tech cloud providers

/cloud

Bank of England frets over stability of Big Tech cloud providers

The Bank of England is warning that additional policy measures may be required to mitigate financial stability risks from the growing concentration of power in the hands of global cloud providers.

CIBC inks Microsoft Azure deal

/cloud

CIBC inks Microsoft Azure deal

The Canadian Imperial Bank of Commerce (CIBC) has agreed a multi-year deal to use Microsoft Azure as its primary cloud platform.

Goldman Sachs joins $170m funding round for French fintech Younited

/cloud

Goldman Sachs joins $170m funding round for French fintech Younited

Younited, a Paris-based credit and payment platform, has raised $170 million in a funding round joined by Goldman Sachs and Bridgepoint.

German banks use digital smart contract to trade OTC interest rate derivative

/cloud

German banks use digital smart contract to trade OTC interest rate derivative

DZ Bank and BayernLB have traded an over-the-counter interest rate derivative in the form of a digital smart derivative contract, with the resulting payments settled daily via Deutsche Börse.

Bank execs predict branch model will be dead within 5 years

/cloud

Bank execs predict branch model will be dead within 5 years

With Covid-19 leading to an uptick in digital banking, nearly two thirds of industry executives from around the world think that the branch-based model will be dead within five years, according to an Economist Intelligence Unit survey.

Symphony buys voice trading tech supplier Cloud9

/cloud

Symphony buys voice trading tech supplier Cloud9

Financial communication platform Symphony has acquired New York-based voice trading software supplier Cloud9 Technologies. Financial terms were not disclosed.

Deutsche Bank signs multi-year database deal with Oracle

/cloud

Deutsche Bank signs multi-year database deal with Oracle

Deutsche Bank has entered into a multi-year collaboration with Oracle to overhaul its myriad databases with the aim of providing a dedicated platform to support the bank's trading, payments processing, risk and capital planning, and regulatory reporting

Aussie banks hit by internet outages

/cloud

Aussie banks hit by internet outages

ANZ, CommBank and Westpac all faced issues with their online banking services on Thursday thanks to a problem with a DDoS mitigation tool run by cloud services provider Akamai.

Checkout.com buys Estonian software development firm

/cloud

Checkout.com buys Estonian software development firm

Online payments firm Checkout.com has acquired Estonian software development firm Icefire, adding 110 engineers to its team. Financial terms were not disclosed.

SocGen and Kyriba co-develop cloud-based treasury management system

/cloud

SocGen and Kyriba co-develop cloud-based treasury management system

Societe Generale has joined forces with Kyriba to develop a new cloud-based treasury management system.

BMO to migrate key applications to AWS

/cloud

BMO to migrate key applications to AWS

BMO is to transfer large portions of its commercial and investment banking operations to Amazon Web Services in an effort to streamline its internal business processes and develop new customer-facing applications.

Derek White swaps Google Cloud for Galileo

/cloud

Derek White swaps Google Cloud for Galileo

After less than a year as head of Google Cloud's FS business, Derek White is joining SoFi-owned API and payments platform Galileo as CEO.

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