Expert Interview: Microsoft Azure and the °neo Platform
We asked our CTO why they chose Microsoft Azure as the foundation of °neo.
Published on: October 27, 2021
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In a digital world where the speed of innovation matters, cloud technology shifts the way businesses operate and how the data is accessed and stored. Powerful platforms such as Microsoft Azure and AWS are taking the financial industry by storm. They deliver many tools and services to their clients, to efficiently handle a vast variety of generic functionality.
Just like other sectors, the financial industry significantly benefits from the cloud. 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, CTO at 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.”
1. A wide offer of microservices
At five°degrees, our focal point is to develop functionalities where we can truly 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 and the number is still growing.
2. Reliability as an enterprise supplier
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.
3. Continuous innovation
Lastly, 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 cloud a provider that keeps innovating and constantly improving its services. Microsoft shows that they share this vision. They add services to the platform on a regular basis 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. Microsoft Azure due to its industry understanding, a vast offering of services, and future focus is the best base to build SaaS services on for banking. Working with them empowers us to meet our customers' needs and exceed their expectations.
About Jeffrey Severijn five°degrees’ CTO:
Jeffrey Severijn has worked at five°degrees since 2016 as a member of the management team. As Chief Technology Officer today Jeffrey is responsible for the five°degrees' cloud native core banking platfrom °neo.