Standard Chartered and AWS sign five-year global agreement

By Megha Bhattacharya

Standard Chartered Bank and Amazon Web Services today announced a five-year strategic global agreement in a bid to strengthen the existing relationship between the two companies. The partnership will enable the Bank to leverage AWS and boost digital transformation and the delivery of customised banking services.

Standard Chartered is expected to enhance customer experience, product development, privacy while simultaneously meeting regulatory requirements.

Dr. Michael Gorriz, Group Chief Information Officer of Standard Chartered said, “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. 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.”

According to the Bank, it will utilise AWS’ database, containers, compute, networking, storage, and security for the deployment of new apps. The Bank is also using Amazon Elastic Kubernetes Service (Amazon EKS) to run significant applications and introduce new services with improved security, reliability, and scalability.

Bhupendra Warathe, Chief Technology Officer, Cloud Transformation, Standard Chartered said, “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.”

Frank Fallon, Vice President, Financial Services at Amazon Web Services, Inc said, “With this agreement, Standard Chartered is relying upon the most secure, reliable, and flexible cloud computing environment in the world. AWS’s unparalleled experience in powering global financial institutions will enable Standard Chartered to transition to the cloud with confidence and innovate faster than ever before.”