Co-op bank migrates to the cloud

By Daniel Lanyon on Wednesday 3 August 2022

Alternative LendingDigital BankingSavings and Investment

The Co-operative Bank will initially upgrade its treasury infrastructure and the automation of manual reporting and processes as part of the solution which will live on Microsoft Azure’s system. 

Co-op bank migrates to the cloud
Image source: Pexels/Soumil Kumar

The Co-operative Bank is moving some of its core infrastructure to the cloud, following a deal with Finastra.

The 150-year old bank like many incumbent banks has long term plans to follow the fintech challengers such as Starling Bank and Monzo in living totally in the cloud.

This process of digitalisation is a gradual one and can be complex as most older banks have fragmented existing infrastructure and need operate continuously.

The Co-operative Bank will initially upgrade its treasury infrastructure and the automation of manual reporting and processes as part of the solution which will live on Microsoft Azure’s system. 

“Moving from an on-premises model to a cloud-based managed service is a big part of our operational strategy for treasury activity,” said Gary McDermott, Treasurer at The Co-operative Bank. 

“With Finastra’s solution and the speed and flexibility offered by the cloud, we can continue to meet business requirements whilst ensuring regulatory compliance,” he added.

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Companies in this Article:

Starling Bank
Monzo
The Co-operative Bank
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