Finastra and Microsoft join hands for cloud-based financial services software

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The new cloud offering will provide enterprise-grade reliability, performance and business continuity, combined with data residency within Germany and connectivity to Microsoft's global public cloud network.

Last year, the Redmond, Washington-based company announced it was building new data centers in South Africa, from which it planned to serve cloud customers in the Middle East by 2018.

"Driven by strong customer demand for cloud computing, local datacenters were the logical next step given the enormous opportunity that the cloud presents", says Sayed Hashish, regional general manager, Microsoft Gulf. The giant has deepened their expertise in the Middle East particularly in Abu Dhabi and in Dubai. "The Azure cloud ensures we are best placed to make this happen and offer our customers robust technology on a secure and proven platform".

Oracle (orcl), which is a making a big cloud computing push, also said in February that it plans to build data centers in countries like China, India, Japan, Switzerland, and Saudi Arabia.

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Switzerland will get two new datacenters in Geneva and Zurich, which are primarily due to Microsoft's engagement with financial institutions in the region. Microsoft said this is a first for an global cloud provider to have a local site in Switzerland, and the move follows consultation with local financial service providers about their needs.

By delivering Microsoft cloud from data centers in a given geography, Microsoft will continue to fulfill their data security and compliance needs to the companies.

In France, the Microsoft Cloud is now open to thousands of customers, partners and ISVs with today's general availability of both Azure and Office 365. That movement is just getting going within the mature tech economies of the world, and probably will take some time to reach emerging tech economies, but we might see emerging economics adopt new technologies more quickly than their counterparts in the USA or Europe simply because they don't have any legacy baggage to overcome.