Microsoft and Virgin Money UK have agreed a strategic partnership that will see the bank launch a cloud-based platform to drive agility and productivity throughout the business and create a unique colleague and customer experience.
Virgin Money, the sixth largest bank in the UK with more than six million customers, will move workloads from on-premise data centres to Microsoft Azure, using Microsoft’s tools and services to implement a simpler IT infrastructure that can be easily scaled, and support future growth, faster development times and improved efficiency across the business.
By enhancing and modernising its current digital platform, Virgin Money can retain business critical aspects of its infrastructure, while adding key workstreams around inclusive design, sustainability and data analysis and insights.
Virgin Money will also use Microsoft’s data analytics tools, to give frontline employees a better view of customers and empower them to offer more personal and tailored financial experiences.
David Duffy, Chief Executive of Virgin Money UK, said: “This partnership with Microsoft is an important element of our digital first strategy. The partnership will drive efficiencies by simplifying our existing IT infrastructure and enable faster development times to help us grow, while empowering our colleagues to build a market-leading digital customer experience at scale.”
Clare Barclay, Chief Executive of Microsoft UK, said: “We are delighted to be partnering with Virgin Money UK to create powerful new financial platforms that will support innovation, business agility and growth. We are working together to simplify business processes and provide meaningful insights driven by a data-first approach. We look forward to continuing this collaboration which will help to drive the UK banking market forward.”
In October, it was announced that Virgin Money was one of the first companies in the world to work with Microsoft on the new Cloud for Financial Services. The industry-specific cloud has a foundation of privacy, security and regulatory compliance across Microsoft and its partner ecosystem, enables interoperability and innovation, and supports retail banks as they enhance customer and employee experiences and drive loyalty and customer growth.