Standard Chartered bank is moving its 167-year long operations to the cloud with the help of Amazon Web Services’ (AWS).
The bank previously stated that it had employed two companies to aid the process of shifting the data. While it confirmed one of the companies to be Microsoft Azure, it didn’t reveal the identity of the second company.
However, in a recent press release, AWS clarified that it was in fact the second company responsible for Standard Chartered’s data shift. The two companies came together to announce a five-year strategic global agreement, in which AWS would handle the bank’s customer-facing applications.
AWS has also agreed to help Standard Chartered with its digital transformation, and implement new personalized banking solutions for the bank’s 60 markets.
Morning Tick previously reported that Standard Chartered is implementing the Kubernetes source-code for its cloud platform. This is a part of Amazon’s EKS (Elastic Kubernetes Service), which assures scalability and security in digital banking services.
Currently, the bank’s global digital payments system, SC Pay, and its core banking system, eBBs, are both based on cloud computing provided by Amazon’s Aurora Web Service. Standard Chartered’s new banking services Mox and nexus are also cloud-native.
“Adopting a cloud-first approach makes our vision for next-generation financial services – like virtual banking, next-generation payments, open banking, and banking as a service – a reality,” said Bhupendra Warathe, Chief Technology Officer, Cloud Transformation, Standard Chartered.
He further opined that “We look forward to our continued partnership with AWS to deliver new products and solutions to our clients across the 60 markets we serve.”
The tryst with Amazon is expected to give Standard Chartered the freedom to innovate fast. “Standard Chartered Bank has been a trusted financial institution for the last 160 years and we are pleased that they have selected AWS as a strategic cloud provider to drive their digital transformation while operating more efficiently and securely in the cloud,” said Frank Fallon, Vice President, Financial Services at Amazon Web Services, Inc.