Deutsche Bӧrse Group chooses Google Cloud for future growth
CEO, Google Cloud
Deutsche Bӧrse Group, an international exchange organisation and innovative market infrastructure provider, has a history of being an early adopter of new technologies that drive its industry forward. Over the last three years, the company has been leading a new charge–the adoption of cloud computing–both inside the company and across the industry. Deutsche Bӧrse is now partnering with Google Cloud to digitize their own business, as well as increase the usage and acceptance of cloud technology across the financial services industry.
As a critical infrastructure provider that drives global markets, Deutsche Bӧrse has a tough balance to strike. On one hand, it needs to keep innovating and expanding its own portfolio of offerings for the clients that depend on their services. However, that innovation can’t come at the expense of the high level of security and reliability which Deutsche Bӧrse and global financial markets demand, while taking regulatory requirements into account. This is a balance the company takes seriously and has executed well on over the years.
In 2018, Deutsche Bӧrse laid out their growth strategy called Roadmap 2020, which focuses on three key pillars: organic growth in existing markets; M&A expansion into new areas; and new technology investments to maintain that leadership position. These investments include distributed ledger/blockchain technology, robotics and AI, advanced analytics, and cloud computing, which the company sees as a foundation for many of these growth initiatives.
The cloud as a foundation for growthDeutsche Bӧrse has been preparing for and moving to the cloud for more than three years now, but has really ramped up its cloud-first strategy over the last year, led by Dr. Christoph Böhm, the company’s Chief Information Officer & Chief Operating Officer. Deutsche Börse follows a multi-vendor strategy for cloud usage and chose Google Cloud as its partner to further modernize, develop and operate its enterprise workloads in an efficient, secure and compliant way.
There are four ways the company will benefit from its move to the cloud:
Increased speed and agility: Provisioning happens in minutes rather than months. This means Deutsche Bӧrse’s IT team can develop and deploy services faster than ever before, especially when it comes to new services that use the emerging technologies mentioned in the company’s Roadmap 2020 vision. It’s a win for everyone involved. Developers don’t have to wait on infrastructure changes to start moving, clients get new features and services faster, and the company is better equipped to adapt to changing market conditions.
Increased efficiency and scale: Like many large enterprises, Deutsche Bӧrse is looking at acquisitions as a way to expand into new areas and fuel growth. The openness and interoperability of cloud technology makes it easier to bring on these acquired companies and integrate new solutions into Deutsche Bӧrse’s broader portfolio. The company can also tap into the cloud’s economies of scale, using existing infrastructure and technology to save time and money in order to focus on what matters most: serving its clients.
A leap forward in emerging technologies: Google Cloud’s global scale and innovative technology will allow Deutsche Börse to accelerate its push into distributed ledger/blockchain technology, robotics, AI and advanced analytics.
Additional transparency and security: For a company whose mission it is to create trust in the markets of today and tomorrow, security and compliance are of utmost importance. Deutsche Bӧrse and Google Cloud are committed to addressing the regulatory requirements for the financial industry and have worked closely to ensure workloads are migrated in a safe and secure manner.
“As part of our collaboration with Google Cloud we are looking forward to jointly define unique data security solutions for the financial industry,” said Dr. Böhm. “We are excited to continue our journey into the cloud, driving data security and compliance for cloud services to the next level, to the benefit of our customers as well as our company.”
Security and compliance in financial services is always a moving target as the threat landscape changes, new technologies arise, and legislation evolves. That’s why Google Cloud and Deutsche Bӧrse are looking to set the standard when it comes to trust and the cloud. We look forward to a long and fruitful partnership.