Deutsche Börse will be using Google to provide 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.
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, using each provider’s strength and avoiding dependencies from single partner set-ups. The German exchange entered into a partnership with Microsoft earlier this year.
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.