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December 3, 2019

Payments firm Klarna picks AWS as preferred cloud provider

Swedish payments provider Klarna has strengthened its relationship with Amazon Web Services (AWS) by choosing the latter as its preferred cloud provider.

Klarna intends to utilise the global infrastructure of AWS to scale its business, which currently tends to 60 million customers across 17 countries. The aim is to support quicker innovations and mitigate security concerns.

Through the expanded alliance, Klarna will leverage the machine learning capabilities of AWS to support risk management and predict real-time credit scores and long-term economic trends.

AWS EMEA managing director Andy Isherwood said: “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.”

Klarna already rolled out a direct-to-consumer platform using AWS. The platform enables users to pay later for purchases at any merchant in four equal installments, without any interest.

The company also introduced the cloud-based Open Banking Platform and Customer Authentication Platform and now plans to utilise AWS to launch additional on-demand products.

Klarna CTO Koen Koppen said: “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.”

This August, Klarna secured $460m in an equity funding round led by Dragoneer Investment Group.

Last month, Western Union selected AWS as a long-term cloud partner to digitalise its infrastructure. The money transfer firm said that a ‘significant portion’ of its infrastructure will be transferred to the cloud platform as part of the deal.

 

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