The alliance aims to help Standard Bank Group automate financial operations and enhance customer facing applications by leveraging the cloud.
Standard Bank Group have partnered with tech giant AWS as their preferred provider of cloud services. With this alliance, Standard Bank Group seeks to migrate their production workloads and automate financial operations to enhance customer-facing apps with AWS cloud.
According to Standard Bank, the financial information that lies with banks is extra sensitive . They say that this information needs to be encrypted by multiple layers of security codes and stored in a cloud environment that can protect the same against cyber risks.
By partnering with AWS for cloud services, Standard Bank claim that they can leverage machine learning, advanced analytics, sophisticated security and many other features of AWS’ cloud. They say that with these services, Standard Bank will be able to position themselves as more than just another bank in the African market.
Sim Tshabalala, Group CEO of Standard Bank claims that their vision is to be one of the leading financial institutions in the African region. He also says that to meet this vision, they will leave no stone unturned and leverage AWS’ state-of-the-art-technology to mitigate and eradicate cyber risks if any.
Market experts say that Standard Bank Group has taken the right decision to make themselves stand out from other banking institutions in the region. We can only wait and see whether Standard Bank will lead the market by leveraging AWS’s cloud services in Africa after the cloud giant expanded in South Africa to compete with Microsoft.