Nordnet has expanded its partnership with Google Cloud to expedite its move to the cloud and build a fully cloud-based savings and investments platform.

As part of the five-year collaboration, the Swedish savings and investments digital platform will make use of the secure infrastructure and data analytics services of Google Cloud. This is expected to help the former to provide its Nordics customers with reliable and dynamic experiences.

Nordnet is also anticipated to drive the majority of its online offering to the cloud by 2025.

Google Cloud claimed that it has played a crucial role for several years in Nordnet’s digital transformation journey.

Besides, Google Cloud has assisted the company to move a considerable number of applications to the cloud.

Nordnet chief technology officer Elias Lindholm said: “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.

“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.”

With Google Cloud, Nordnet is said to have developed a stronger platform with improved security capabilities and enhanced performance during busy trading periods.

The platform also offers additional services to deliver better insights to investors into their investment portfolios.

According to Google Cloud, the Swedish firm has been able to scale up without disruptions and switch to a more data-powered development approach during the Covid-19 pandemic.

Nordnet was also able to create the foundations to further democratise savings and investments for its users, said Google Cloud.

Google Cloud Nordic region managing director Eva Fors said: “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 personalised customer experiences—with security at the core.”