Sim Tshabalala, CEO of Standard Bank

South African lender, Standard Bank Group, has selected Amazon Web Services (AWS) as its cloud provider with an aim of migrating its production workloads and strategic core banking applications to the cloud platform. The bank intends to utilize AWS services to automate financial operations and enhance customer facing web and mobile applications.

“Our vision is to be Africa’s leading financial services organisation and to achieve this we have chosen to work with the world’s leading cloud,” said Sim Tshabalala, Group CEO of Standard Bank.

“For Standard Bank Group to remain a leader in African financial services, we recognise we need to adopt a cloud-first approach to our business. AWS Cloud technology will create a springboard for Standard Bank Group, helping us to rapidly roll out our digitisation and data strategy to better cater to customers whose needs are constantly evolving. The combination of AWS’s rapid agility and high levels of security, combined with Standard Bank’s customer obsession and desire to constantly raise the bar, will allow us to build Africa’s financial services organisation of the future and to be positioned as more than a bank.”

According to the supplier, the bank will utilize AWS’ analytics and machine learning services in order to advance fraud detection and launch business initiatives. The partnership will also involve the establishment of AWS’ Cloud Centre of Excellence within the bank for facilitation of the migration procedure. The collaboration also aims at building an education and digital skills program for African cloud experts, to be launched across Southern Africa.

Andy Jassy, CEO of AWS. “Standard Bank Group has been a trusted financial institution for more than 150 years. We look forward to working closely with them as they become Africa’s first bank in the cloud, leveraging AWS to innovate new services at a faster clip, maintain operational excellence, and provide secure banking services to customers around the world.”

Amazon Web Services provides around 165 fully featured services for computing, storage, databases, networking, analytics, robotics, machine learning and artificial intelligence etc. within 20 geographic regions.

by Megha Bhattacharya
Market Analyst at IBS Intelligence