Leading financial institution forms strategic
relationship with AWS to drive innovation and deliver new digital
banking services with enhanced security and reliability
Today, Amazon Web Services, Inc. (AWS), an Amazon.com, Inc.
company (NASDAQ: AMZN), and Standard Chartered Bank plc (LON:
STAN), a leading international banking group, announced a five
year, strategic global agreement, which deepens the existing
relationship between the two companies, and includes the bank
running its strategic banking systems and customer facing
applications on AWS. Standard Chartered Bank is collaborating with
AWS to drive its digital transformation and deliver new
personalized banking services in the bank’s 60 markets worldwide.
Using AWS’s reliable infrastructure and cloud services across its
entire business will enable the bank to be more responsive to
customer needs and create new applications. Standard Chartered will
adopt AWS to improve resiliency, security, and privacy, while
meeting compliance requirements across the bank’s global
footprint.
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Adopting a cloud-first approach, Standard Chartered will use the
breadth and depth of AWS services, including database, containers,
compute, networking, storage, and security, to reinvent the digital
banking experience, accelerating the design and deployment of new
applications and digital services for its individual and corporate
clients. Standard Chartered is using Amazon Elastic Kubernetes
Service (Amazon EKS) to run significant applications and quickly
introduce new services with the utmost security, reliability, and
scalability. For example, the bank launched its nexus banking-as-a
service solution and Mox, its new virtual bank in Hong Kong, on AWS
and continues to leverage AWS services to add new functionality to
both. The bank’s award-winning global payments system, SC Pay, and
core banking system, eBBS, are cloud-native services that use
Amazon Aurora, a cloud-native relational database, to store details
of banking and e-commerce transactions, including micropayments,
resulting in faster and more secure transfer of funds with reduced
cost per transaction. Standard Chartered’s Financial Market
business, which includes risk management, financing, and investment
services, uses AWS to run algorithms that assess market risk and
leverages Amazon Elastic Compute Cloud (Amazon EC2) to enable the
bank to flexibly scale up those workloads during peak demand.
"Our continued work with AWS demonstrates our commitment to
putting innovation and security at the heart of Standard
Chartered’s digital transformation strategy,” said Dr. Michael
Gorriz, Group Chief Information Officer of Standard Chartered. “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.”
“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. “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.”
“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. “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.”
About Amazon Web Services
For 14 years, Amazon Web Services has been the world’s most
comprehensive and broadly adopted cloud platform. AWS offers over
175 fully featured services for compute, storage, databases,
networking, analytics, robotics, machine learning and artificial
intelligence (AI), Internet of Things (IoT), mobile, security,
hybrid, virtual and augmented reality (VR and AR), media, and
application development, deployment, and management from 77
Availability Zones (AZs) within 24 geographic regions, with
announced plans for 15 more Availability Zones and five more AWS
Regions in India, Indonesia, Japan, Spain, and Switzerland.
Millions of customers—including the fastest-growing startups,
largest enterprises, and leading government agencies—trust AWS to
power their infrastructure, become more agile, and lower costs. To
learn more about AWS, visit aws.amazon.com.
About Amazon
Amazon is guided by four principles: customer obsession rather
than competitor focus, passion for invention, commitment to
operational excellence, and long-term thinking. Customer reviews,
1-Click shopping, personalized recommendations, Prime, Fulfilment
by Amazon, AWS, Kindle Direct Publishing, Kindle, Fire tablets,
Fire TV, Amazon Echo, and Alexa are some of the products and
services pioneered by Amazon. For more information, visit
www.amazon.com/about and follow @AmazonNews.
About Standard Chartered Bank
Standard Chartered is a leading international banking group,
with a presence in 60 of the world’s most dynamic markets, and
serving clients in a further 85. Our purpose is to drive commerce
and prosperity through our unique diversity, and our heritage and
values are expressed in our brand promise, Here for good.
Standard Chartered PLC is listed on the London and Hong Kong
Stock Exchanges.
For more stories and expert opinions please visit Insights at
sc.com. Follow Standard Chartered on Twitter, LinkedIn and
Facebook.
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