Standard Chartered announced today that the bank has signed a deal with Amazon Web Services (AWS) to introduce new services related to digital banking in a reliable and secure environment. The bank termed the new deal as a strategic global agreement to drive its digital transformation.
The new five-year deal will strengthen the existing relationship between the two companies. The bank aims to improve its personalized banking services in more than 60 markets across the world. According to the official press release, the new partnership will enable Standard Chartered to develop new applications across different platforms.
Founded in 2006, AWS has been the most popular cloud platform around the world with over 175 fully-featured services including storage, database, networking, artificial intelligence, and application development. Standard Chartered plans to take advantage of broad AWS services to transform digital banking services for individual and corporate clients.
Commenting on the recent announcement, Michael Gorriz, Group Chief Information Officer at Standard Chartered, said: “Our continued work with AWS demonstrates our commitment to putting innovation and security at the heart of Standard Chartered’s digital transformation strategy. At the same time, we are improving our operational efficiency and resilience by using the best-in-class security, privacy, and compliance delivered through cloud infrastructure. We are pleased to collaborate with AWS as a long-term strategic cloud provider and take advantage of their broad portfolio of cloud services and proven expertise to bring secure cloud solutions to the financial services industry.”
The recent announcement shows the importance of cloud-based services for the bank. Standard Chartered plans to develop next-generation financial services through AWS. “Adopting a cloud-first approach makes our vision for next-generation financial services like virtual banking, next-generation payments, open banking, and banking as a service, a reality,” Bhupendra Warathe, Chief Technology Officer, Cloud Transformation at Standard Chartered, said in a statement.
“A significant number of Standard Chartered’s flagship applications, like our core banking system, eBBS, global payment system, SC Pay, as well as our new digital banking services, Mox and nexus, are already cloud-native,” he added.
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