Standard Bank Group has selected Amazon Web Services (AWS) as its preferred cloud provider with the intention of migrating its production workloads, including its customer facing platforms and strategic core banking applications to the cloud.
Standard Bank said it will leverage AWS services, including data analytics and machine learning, to automate financial operations and enhance customer facing web and mobile applications.
The migration to AWS will take place across all business units, subject to approvals from local regulators, including Personal Banking, Wealth, Corporate Investment Banking, and Insurance, driving a more personalized banking and investment experience for customers.
Earlier this month Standard Bank announced plans to cut around 1,200 jobs and close 91 branches as part of efforts to digitise its retail and business bank.
As part of the move, an AWS Cloud Center of Excellence will be established within the bank, featuring a dedicated team focused on facilitating the migration to the cloud and building AWS training and certification programs to up-skill all employees.
AWS and Standard Bank Group will also collaborate on building an education and digital skills programme, to be launched across Southern Africa, to train the next generation of African cloud experts.
“For Standard Bank Group to remain a leader in African financial services, we recognize we need to adopt a cloud-first approach to our business. AWS Cloud technology will create a springboard for Standard Bank Group, helping us to rapidly roll out our digitisation and data strategy to better cater to customers whose needs are constantly evolving,” said Sim Tshabalala, Group CEO of Standard Bank.