Nordnet Bolsters Partnership with Google Cloud to Develop a Fully Cloud-Based Savings and Investments Platform By CIOTechOutlook Team

Nordnet Bolsters Partnership with Google Cloud to Develop a Fully Cloud-Based Savings and Investments Platform

CIOTechOutlook Team | Thursday, 30 March 2023, 08:53 IST

In order to spur innovation and hasten its move to the cloud, Nordnet, the top pan-Nordic digital platform for savings and investments, today announced an expanded, five-year agreement with Google Cloud. To provide secure infrastructure and data analytics services to its customers throughout the Nordic region, Nordnet will make use of Google Cloud. By 2025, Nordnet anticipates that cloud computing will be the mainstay of its online offerings.

For many years, Google Cloud has been a vital player in Nordnet's digital transformation process and has assisted with the migration of a sizable number of apps to the cloud. The inclusion of new cloud-based services and a more reliable investing platform have already helped Nordnet's 1.7 million consumers. For instance, Nordnet may now provide consumers more intricate and effective trading graphs by utilising Google Cloud's data and analytics capabilities. Furthermore, Nordnet is now able to provide users with more customised user experiences thanks to data from the well-known social investment platform Shareville and Google's industry-leading machine learning capabilities.

"We realised that the rapid changes in customer needs, both now and in the future, would be best served by creating a more dynamic IT infrastructure in a cloud environment," said Elias Lindholm , CTO, Nordnet. "The transition to the cloud has made us more agile when handling complex workloads and creating new or improved customer experiences. We are pleased to expand our partnership with Google Cloud, as we share a similar approach to innovation, and we are excited to build the next generation of financial services solutions together."

Nordnet developed a more reliable platform with greater performance during busy trading periods, improved security features, and more services to give investors better insights into their investment portfolios through its relationship with Google Cloud. In fact, Nordnet was able to scale up unhindered during the pandemic, change to a more data-driven development methodology, and lay the groundwork for further democratising savings and investing for its clients.

"Nordnet is part of an industry that is continually transforming and adapting to change, and we're very proud to partner with them on its journey to the cloud. Using Google Cloud technology and machine-learning capabilities, Nordnet can now equip and empower its entire organisation with the tools to create personalized customer experiences—with security at the core," said Eva Fors, Managing Director, Google Cloud, Nordic Region.

Nordnet has been able to move away from constant maintenance and turn its focus towards developing new services that democratise savings and investments for its consumers thanks to Google Cloud's secure, scalable, and cutting-edge technology.