Having already worked with Amazon in the past, Swedish banking firm Klarna has reinforced its reliance on Amazon Web Services (AWS) to increase redundancy and fault tolerance as it aims to scale its business, reports Alex Hamilton of Fintech Futures (Finovate’s sister publication).
The company also plans to follow up the launches of its cloud-based Open Banking platform and customer authentication platform with additional on-demand products using AWS.
“Together with AWS we share a relentless focus on providing choices to consumers, so they no longer have to settle for the status quo,” said Koen Koppen, chief technology officer at Klarna.
“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.”
Andy Isherwood, managing director for AWS EMEA, added that Klarna is going to “change the world” with cloud technology.
“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,” Isherwood said.
Klarna raised $460 million in equity funding back in August, which at the time valued the company at $5.5 billion. Klarna reiterated at the time its intention to focus on an expansion into the U.S. market.
The company demonstrated its technology at FinovateSpring 2012. Headquartered in Stockholm, Sweden and founded in 2005, Klarna has 80 million shoppers on its platform and partnerships with 190,000 retailers around the world. Company co-founder Sebastian Siemiatkowski is CEO.