#Cloud / Standard Chartered signs three-year deal with Microsoft to become ‘cloud first’ bank

… Standard Chartered is adopting a multi-cloud approach, where significant applications, including its core banking and trading systems and new digital ventures such as virtual banking and banking as-a-service, will be cloud-based by 2025. The bank says it will also adopt a cloud-first principle for all new software developments and major enhancements.

[Group CIO:] “MOX, our digital bank in Hong Kong, has all of its systems born in cloud only. Another example is, our new Global Payments system, scPay which is fully cloud native and handles high-value as well as micropayments for the e-commerce world. By having our applications on cloud, we are also able to develop new business models and offer a broader portfolio of services by integrating with Fintech partners, our clients and marketplaces, like e-commerce platforms, ride hailing ecosystems or super apps. New apps can be piloted in one market and scaled up rapidly across others which is especially important for a bank with a footprint as diverse as ours.”