Wells Fargo picks Microsoft, Google as cloud service providers

The move makes Wells Fargo the latest big bank to use third-party data centers for cloud-related services. The company did not disclose the financial details of its agreement with Microsoft and Google.

Wells Fargo & Co said on Wednesday that it had picked Microsoft Corp and Alphabet Inc's Google as its public cloud providers, embracing a multi-cloud approach. While Microsoft's Azure will serve as the bank's primary cloud provider, Google Cloud will provide additional business-critical public cloud services.

As part of its new digital infrastructure strategy, the company will also move towards some third party-owned data centers, as it aims to rely predominantly on public cloud in the longer term, it said. The move makes Wells Fargo the latest big bank to use third-party data centers for cloud-related services.

The company did not disclose the financial details of its agreement with Microsoft and Google. Multi-cloud enables flexibility and also allows businesses to off-load some of the heavy costs of running their own data centers by renting public ones.