IGM Financial Announces New Collaboration with Microsoft to Deliver Next-Generation Financial Services to Canadians

Integral to IGM's ongoing digital transformation strategy to further modernize operations and bring new capabilities to their employee and client experience

WINNIPEG, MB, Aug. 31, 2022 /CNW/ - IGM Financial Inc. (IGM) (TSX: IGM) today announced a new collaboration with Microsoft Canada to further modernize its operations and evolve its technology infrastructure.  

IGM has chosen Microsoft Azure as a key provider of public cloud services to enable its digital infrastructure strategy, empower the creation of innovative solutions, and provide a trusted and secure foundation for strategic business workloads. This will further enhance IGM's ongoing digital transformation and commitment to enhancing the employee and client experience.  

"We're proud to be working with Microsoft, whose industry-leading capabilities in the integration of cloud computing for businesses will assist us in the continued modernization of key infrastructure and business practices," said Mike Dibden, Chief Operating Officer, IGM Financial Inc. "Through this collaboration, we'll be able to better serve the financial needs of Canadians through increased operational efficiencies and enhanced abilities. This will allow us to adapt our business quickly and cost-efficiently to evolving technological and financial landscapes."

An integral part of the digital infrastructure strategy is a secure and compliant cloud platform that offers increased protections to safeguard data privacy, and financial assets of IGM Financials customers, with a focus on data confidentiality. IGM will strategically allocate digital applications and other functions of its technology infrastructure away from physical servers in its current data centre to the Microsoft Azure platform, providing efficiencies, scale and flexibility for services related to its core business and supporting future growth opportunities.

"IGM and Microsoft have a longstanding relationship, and we are proud to build on that foundation to accelerate their digital transformation journey," said Chris Barry, President, Microsoft Canada. "By trusting Azure for strategic cloud platform needs, we are helping IGM advance its key business and technology transformation priorities and deliver next-generation digital financial services to Canadians coast-to-coast."

Cloud and AI engineering, security, and related skills continue to be in high demand across Canada, and globally. Through this collaboration, IGM will also leverage Microsoft's extensive suite of training programs and certifications to support and continue developing top talent at IGM. The result will be a resilient workforce capable of leveraging the Microsoft Cloud to digitize back-office operations, develop modernized practices and reinforce cybersecurity.  This, in turn, will lead to an elevated client experience.

Additionally, operating IGM's digital infrastructure on Microsoft Azure is in line with IGM's ongoing commitment to sustainability. According to The Carbon Benefits of Cloud Computing: A Study on the Microsoft Cloud conducted by Microsoft Corporation and WSP, the Microsoft cloud is up to 93 percent more energy-efficient than traditional enterprise data centres, in part due to the potential for large-scale purchases of green-power that can help ensure a low carbon footprint.

About IGM Financial Inc.

IGM Financial Inc. is one of Canada's leading diversified wealth and asset management companies with approximately $253 billion in total assets under management and advisement at July 31, 2022. The company provides a broad range of financial planning and investment management services to help more than two million Canadians meet their financial goals. Its activities are carried out principally through IG Wealth Management, Mackenzie Investments and Investment Planning Counsel. IGM Financial Inc. is a member of the Power Corporation group of companies.

SOURCE IGM Financial Inc.

Media Relations: Nini Krishnappa, 647-828-2553, [email protected]; Investor Relations: Kyle Martens, 204-777-4888, [email protected]