Standard Chartered partners with Microsoft

As part of its digital transformation, Standard Chartered will adopt a multicloud approach, where applications, including its core banking, trading systems and new digital ventures such as virtual banking and banking-as-a-service (BaaS), will be cloud-based by 2025, subject to regulatory approvals. The bank will also adopt a cloud-first principle for all new software developments and major enhancements.

Standard Chartered will adopt Microsoft Azure as a cloud platform. The first set of capabilities to move to Microsoft Azure will be Standard Chartered’s trade finance systems, allowing cross-border trade for the bank’s corporate and institutional clients. The bank will also use Microsoft Azure’s AI and data analytics capabilities to automate banking processes.