Standard Chartered partners with Microsoft

Wednesday 12 August 2020 09:14 CET | News

Standard Chartered and Microsoft have announced a three-year partnership to help the bank’s digital transformation through a cloud-first strategy. 

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. 

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Keywords: Standard Chartered, banks, partnership, Microsoft, cloud, digital, multicloud, banking, virtual banking, banking-as-a-service, BaaS, software, Microsoft Azure, trade finance, cross-border, AI, artificial intelligence
Categories: Banking & Fintech
Countries: United Kingdom
This article is part of category

Banking & Fintech