Standard Chartered Bank has chosen Microsoft as its partner to accelerate its digital transformation through cloud strategy. It has signed a three-year partnership deal with Microsoft, which will see the bank use Microsoft’s Azure to bring new services to its customers.
Standard Chartered Bank will now leverage the capabilities of Azure for open banking, virtual banking, next-gen payments, and banking-as-a-service. The bank further plans to take a cloud-first approach for all new software developments and major enhancements.
Standard Chartered’s trade finance systems will be the first to move to Azure. This will allow a seamless cross-border trade for the bank’s corporate and institutional clients.
The partnership with Microsoft will also give the bank’s digital workspace a makeover with Microsoft 365 and Microsoft Teams providing the means for productivity and collaboration tools to the bank’s workforce of over 84,000 employees in over 60 markets.
Michael Gorriz, Group Chief Information Officer of Standard Chartered, said: “Cloud is a cornerstone of Standard Chartered’s strategy to meet the present and future banking needs of our clients. Cloud providers have invested massively in the reliability and automation of infrastructure and platforms.”