Standard Chartered Partners with Amazon Web Services

Standard Chartered announced today that the bank has signed a deal with Amazon Web Services (AWS) to introduce new services related to digital banking in a reliable and secure environment. The bank termed the new deal as a strategic global agreement to drive its digital transformation.

The new five-year deal will strengthen the existing relationship between the two companies. The bank aims to improve its personalized banking services in more than 60 markets across the world. According to the official press release, the new partnership will enable Standard Chartered to develop new applications across different platforms.

Founded in 2006, AWS has been the most popular Cloud Cloud The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc Read this Term platform around the world with over 175 fully-featured services including storage, database, networking, artificial intelligence, and application development. Standard Chartered plans to take advantage of broad AWS services to transform digital banking services for individual and corporate clients.

Commenting on the recent announcement, Michael Gorriz, Group Chief Information Officer at Standard Chartered, said: “Our continued work with AWS demonstrates our commitment to putting innovation and security at the heart of Standard Chartered’s digital transformation strategy. 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.”

Cloud-First Strategy

The recent announcement shows the importance of cloud-based services for the bank. Standard Chartered plans to develop next-generation financial services through AWS. “Adopting a cloud-first approach makes our vision for next-generation financial services like virtual banking, next-generation Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term, open banking, and banking as a service, a reality,” Bhupendra Warathe, Chief Technology Officer, Cloud Transformation at Standard Chartered, said in a statement.

“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,” he added.