Microsoft has announced a big win for its Azure cloud platform: a deal to host BlackRock’s Aladdin infrastructure on Azure.

Aladdin is an “end-to-end investment management and operations platform used by institutional investors including asset managers, pension funds, insurers and corporate treasurers.” By moving the infrastructure to Azure, BlackRock hopes to bring enhanced capabilities and an improved experience to its clients.

“As both a user and a provider of Aladdin, this decision reflects BlackRock’s ongoing commitment to continuous innovation and scalable operating solutions,” said Rob Goldstein, Chief Operating Officer of BlackRock. “Aladdin infrastructure deployed on Microsoft Azure’s cloud platform will provide BlackRock with enhanced capabilities to deliver the best outcomes for our Aladdin clients.”

“By bringing Aladdin to the cloud, Microsoft will support BlackRock in further enhancing its client experience while also enabling continuous innovation in the financial services industry,” said Judson Althoff, executive vice president of Microsoft’s Worldwide Commercial Business. “Together, we will empower an ecosystem of financial services customers running their most critical workloads in the cloud.”

The two companies are committed to working together to further sustainability through the use of big data, machine learning and artificial intelligence. The deal is a big win for Microsoft, and will likely help it move further into the financial services industry.