In a move to improve the established relationship between the two firms, Standard Chartered Bank and Amazon Web Services announced a five-year strategic global agreement. The partnership will allow the Bank to leverage AWS and improve digital transformation and the provision of tailored banking services.
It is expected that Standard Chartered will boost customer service, product growth, and privacy while meeting regulatory requirements at the same time.
“A cloud-first strategy allows us to be more agile and client-focused, so our customers have better experiences and faster access to innovative new products. 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,” said Dr. Michael Gorriz, Group Chief Information Officer of Standard Chartered.
The bank expressed that as a long-term strategic cloud provider, they are pleased to partner with AWS and take advantage of their large range of cloud services and proven experience to bring stable cloud solutions to the financial services industry.
It will use the AWS database, containers, computing, networking, storage, and protection for the deployment of new applications, according to the bank. Amazon Elastic Kubernetes Service (Amazon EKS) is also being used by Standard Chartered to run significant applications and implement new services with enhanced security, reliability, and scalability.
“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. We look forward to our continued partnership with AWS to deliver new products and solutions to our clients across the 60 markets we serve.”
The Vice President, Financial Services at Amazon Web Services, Frank Fallon, concurred that With this agreement, Standard Chartered relies on the world’s most stable, efficient, and scalable environment for cloud computing. The unparalleled experience of AWS in powering global financial institutions will allow Standard Chartered to confidently transition to the cloud and innovate more rapidly than ever before.
