Bank of America announced today that it will tap into Microsoft's cloud services "as part of its digital transformation." As part of the move, Bank of America will tap into both Office 365 and Azure. In a news release, Bank of America Chief Technology Office Howard Boville said:
We are aggressively modernizing our technology infrastructure to enable current and future growth across all our lines of business. Our agreement with Microsoft aligns to our target of delivering 80 percent of our technology workloads on virtual platforms within the next several years, further establishing Bank of America as a digital leader in financial services.
Bank of America says that it will tap Azure for its cloud needs, and it will also bring Office 365 to its 200,000 employees. According to Microsoft, "more than 80 percent of the world's largest banks and more than 75 percent of the global systemically important financial institutions using Azure."
Microsoft's cloud efforts have become an increasingly important part of its business. Cloud business revenues have led the way in driving growth for the tech giant in recent quarters, and it looks like the cloud will be a continued area of focus for Microsoft going forward.