This archive report was first published on 15 September 2021.
On September 15, 2021, Standard Bank and Amazon Web Services (AWS) announced an expansion of their strategic relationship to drive the growth of Africa through digital infrastructure, digital ecosystems, and future-ready solutions.
Building on a three-year relationship, Standard Bank will collaborate with AWS to jointly build the African Innovation Lab – an incubator and accelerator of large-scale innovation projects and new business models.
Standard Bank selected AWS in 2019 as its preferred cloud provider to migrate production workloads, including its customer-facing platforms and strategic core banking applications, to the cloud.
Standard Bank Group continues to use AWS services, including data analytics and machine learning, to automate financial operations and enhance existing applications, and develop new and more personalized banking and investment experiences.
“Innovation is one of the key pillars supporting Standard Bank’s strategy of transforming from a traditional financial services company into a digital platform company,” says Standard Bank Group CEO, Sim Tshabalala.
“Africa could become the world’s first cloud-native continent, and for Standard Bank Group to realise its platform ambitions whilst remaining a leader in African financial services, we recognize we need to adopt a cloud-first approach to our business,” adds Tshabalala.
“Since 2019, Standard Bank Group and AWS have worked together to explore new avenues to innovate, maintain operational excellence, and deliver secure banking services to customers around the world,” says Frank Fallon, Vice President of Financial Services at AWS.
