Klarna intends to leverage AWS’s scalability and security, along with its portfolio of cloud services, to strengthen its teams to innovate at a faster pace.
Sweden-based online financial services provider Klarna has selected Amazon Web Services (AWS), a subsidiary of Amazon that offers cloud computing platforms and APIs, as its preferred cloud provider.
Klarna intends to leverage AWS’s scalability and security, along with its portfolio of cloud services, to strengthen its teams to innovate at a faster pace, while maintaining regulatory compliance and protecting customer data.
Klarna CTO Koen Koppen said: “Together with AWS we share a relentless focus on providing choices to consumers, so they no longer have to settle for the status quo. Our collaboration with AWS has helped us to rapidly innovate and create new services and applications that customers want, in a secure and seamless way.
“We look forward to continuing to leverage AWS’s deep portfolio of cloud services to develop new, flexible payment services that will help consumers maintain full control of their finances and help merchants create frictionless payment solutions.”
AWS is a broadly adopted cloud platform
To maintain the necessary trusted infrastructure, Klarna works with AWS compliance and security assurance teams and has built its core banking platform on AWS. It has developed microservices architecture on AWS, to optimise costs using Amazon Elastic Kubernetes Service (Amazon EKS).
The company intends to follow up the successful launches of its cloud-based Open Banking Platform and Customer Authentication Platform with additional on-demand products using AWS.
The bank said that its ‘open banking by Klarna’ would enable the online merchants and eCommerce providers to leverage its secure, reliable, and compliant banking infrastructure to develop their own payment facilities.
In addition, its customer authentication platform allows multinational businesses to provide a simple, secure, and personalized customer authentication experience through a one-time integration.
Furthermore, Klarna intends to use AWS’s ML services, including Amazon SageMaker, to help merchants to use ML models to better identify and manage risk, predict credit scores in real time, forecast long-term economic trends, and help end users to better manage payments and other transactions.
AWS is a broadly adopted cloud platform that offers more than 165 fully featured services for computer, storage, databases, networking, analytics, robotics, machine learning and artificial intelligence (AI), and Internet of Things (IoT), mobile, security, hybrid, virtual and augmented reality, media, and application development, deployment, and management.
Amazon Web Services EMEA managing director Andy Isherwood said: “It’s exciting to see our customers using cloud technology to change the world, and this is exactly what Klarna is doing. We have worked with Klarna for over a decade and it has been inspiring to see them grow from a Swedish startup to a global financial services powerhouse, using the secure, proven infrastructure of AWS.
“We look forward to continuing to work alongside them as they leverage the breadth and depth of AWS services to develop technologies never before seen in the financial services space and as they delight customers around the world.”