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Piraeus Bank moves to Cloud with Microsoft

Piraeus Bank and Microsoft are moving towards a new strategic partnership to support the Bank’s digital transformation, enhance its operational efficiency, provide new personalized customer-centric services and achieve sustainable growth.

The common objective of this cooperation is to strengthen Piraeus Bank’s position as a new generation financial institution, which utilizes state-of-the-art technologies to provide a higher level of banking experience and achieve its business and environmental goals.

The starting point of the project is the existing agreement for the transition of Piraeus Bank’s technological infrastructure to the Cloud, which will act as a catalyst for innovation and further development with a vehicle for new, pioneering and secure banking services.

The Memorandum of Understanding was signed on Tuesday, November 16, 2021, at the management offices of Piraeus Bank, by Christos Megalou, CEO of Piraeus Bank and Theodosis Michalopoulos, CEO of Microsoft Greece, Cyprus and Malta, in the presence of Mr. Jean-Philippe Courtois, Executive Vice President and President, National Transformation Partnerships of Microsoft and Dimitris Mavrogiannis, Group Chief Operating Officer (COO) of Piraeus Bank.”

“Through the new partnership with Microsoft, Piraeus Bank seeks to increase its operational efficiency, enhance the automation of its internal processes, enrich the digital capabilities of its working environment, introduce new personalized products and services based on data and analytics, reduce IT costs and reduce its energy footprint, contributing to the transition to sustainable development. This agreement confirms our commitment to strengthen Piraeus Bank’s position as a new generation financial institution, powered by state-of-the-art Cloud technology.”, said Christos Megalou.

“With the new partnership we become piraeus bank’s companions in its exciting digital journey. We create a framework for the unhindered transfer of knowledge and know-how, in particular in the exploitation of new technologies that will strengthen the Bank with new tools and capabilities in order to respond to its multifaceted role vis-à-vis the Greek economy and society. At the same time, we are working together to give new impetus to the company’s sustainability strategy through the positive impact that technology will have on sustainable banking.”, stated Theodosis Michalopoulos.

“It is an honor and a pleasure to participate in the transformational journey of Piraeus Bank and I am very pleased to see the commitment of the Bank’s leadership to create a new environment for the banking sector in Greece. Through this partnership we create a new roadmap for innovation and sustainability and contribute to the promotion of Greece’s digital agenda. One year after Microsoft’s announcement of the creation of the first Data Center Region in the country, it is impressive to see how fast the transition to the Cloud of companies such as Piraeus Bank, which are pivotal to the Greek economy and society, is progressing.”, commented Jean-Philippe Courtois.

Within the framework of the new partnership, Piraeus Bank and Microsoft committed to mobilize the ecosystems of their partners (FinTechs, institutional productive and research partners) in order to create the conditions for new, broader partnerships that will accelerate the digital transition of the financial sector in Greece

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