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Microsoft teams up with UK bank

Aug 12, 2020

They have entered into a three-year partnership

Microsoft and Standard Chartered Bank

Microsoft teams up with UK bank. Source:?shutterstock.com

Microsoft and Standard Chartered Bank have collaborated to accelerate the bank’s digital transformation through a cloud-first strategy.

Using Azure, the companies will co-innovate in open banking and real-time payments to help the bank provide new solutions for clients.

Standard Chartered expects its core banking and trading systems along with new digital ventures to be cloud-based by 2025, subject to regulatory approvals. The bank will adopt a cloud-first principle for all new software developments and major enhancements as well.

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. Using cloud services improves our ability to be agile and innovative while increasing our operational efficiency and resilience. As disruption in the financial industry continues, we can focus on client benefits by deploying our solutions quicker and allowing for faster integration of new business models and partners. To realize our digital ambitions, Standard Chartered has chosen Microsoft as a strategic partner and this partnership marks a major milestone for the bank in adopting a cloud-first approach
Michael Gorriz, Group Chief Information Officer of Standard Chartered

We’ve reported that Huawei?has launched?a Digital Payment Cloud Solution to help digital payment service operators build super app centered payment ecosystems.

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