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Standard Chartered Bank today announced a three-year strategic partnership with Microsoft to accelerate its digital transformation. As part of this partnership, Microsoft Azure will become Standard Chartered’s preferred cloud platform. Also, these companies will work on open banking and real-time payments. Standard Chartered also said that it adopt a cloud-first principle for all new software developments and major enhancements. Standard Chartered Bank has also selected Microsoft 365 and Microsoft Teams for its 84,000 employees across its 60 markets.
Standard Chartered will also use Microsoft Azure artificial intelligence (AI) and data analytics capabilities to enhance and automate banking processes as well as deliver hyper- personalization of its client products and experiences. Co-innovation in open banking application programming interface (API) and Internet-of-Things-based, real-time payments will also help the bank unlock new banking experiences for clients.