Societe Generale to adopt cloud computing

Societe Generale is embracing the cloud.

Bloomberg News reports that the Paris-based bank is working with Microsoft Corp. and Inc. to become one of the first large European banks to adopt cloud computing for the bulk of its operations.

Societe Generale will start using external cloud services by June for some non-client content, such as financial research and marketing data, said Carlos Goncalves, the head of global technology services. By 2020, the bank intends to have 80 percent of its infrastructure on internal and external cloud networks.

“We are ready to go to scale,” Goncalves said. “According to the European Central Bank, we have put in place the benchmark for the industry.”

French bank is among the first large financial firms on the continent getting ready to shift most of its operations to the cloud. The decision signals an accelerating evolution in how banks handle one of their most valuable and sensitive assets: information.

Hit the link below to access the complete Bloomberg News article:

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