- Standard Chartered Bank and Microsoft have announced a three-year strategic partnership focused on cloud-based digital transformation
- The companies will cooperate on open banking and real-time payments to “unlock new banking experiences for clients”
- The banks’ core banking, trading systems, virtual banking, and banking as a service will be cloud-based by 2025
- The bank’s trade finance systems will be the first to move, with others following over the next few years
- Standard Chartered will also use Microsoft Azure AI and data analytics capabilities to enhance and automate banking processes
- Cloud is a cornerstone of Standard Chartered’s strategy to meet the present and future banking needs of clients
