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  • user 2:03 pm on March 27, 2019 Permalink | Reply
    Tags: Amazon, standard bank   

    Standard Bank Group Selects AWS as Its Preferred Cloud Provider 

    One of Africa’s largest lenders selects AWS to accelerate mass migration, drive digital transformation, and enhance security posture in the cloud

    March 27, 2019

    Today, Web Services, Inc. (AWS), an Amazon.com company, announced that Group has selected 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 Group 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.

    Standard Bank Group chose AWS because of its broad and deep portfolio of cloud services, overall commitment to security excellence, and strong financial services experience. The South African Reserve Bank also confirmed Standard Bank Group can make the move to AWS while still meeting all current compliance requirements. Standard Bank Group will take advantage of advanced analytics and machine learning services, including Amazon SageMaker, to advance fraud detection and launch new business initiatives, such as machine learning-based advisor capabilities that will help customers make more informed financial decisions. 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 program, to be launched across Southern Africa, to train the next generation of African cloud experts.

    “Our vision is to be Africa’s leading financial services organisation and to achieve this we have chosen to work with the world’s leading cloud,” said Sim Tshabalala, Group CEO of Standard Bank. “For Standard Bank Group to remain a leader in African financial services, we recognise we need to adopt a cloud-first approach to our business. AWS Cloud 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. The combination of AWS’s rapid agility and high levels of security, combined with Standard Bank’s customer obsession and desire to constantly raise the bar, will allow us to build Africa’s financial services organisation of the future and to be positioned as more than a bank.”

    “The cloud is transforming the financial services industry as organisations look for new ways to enhance customer experiences, and power their entire enterprise operations more efficiently and effectively on the world’s leading cloud,” said Andy Jassy, CEO of AWS. “Standard Bank Group has been a trusted financial institution for more than 150 years. We look forward to working closely with them as they become Africa’s first bank in the cloud, leveraging AWS to innovate new services at a faster clip, maintain operational excellence, and provide secure banking services to customers around the world.”

    About Amazon Web Services

    For 13 years, Amazon Web Services has been the world’s most comprehensive and broadly adopted cloud platform. AWS offers over 165 fully featured services for compute, storage, databases, networking, analytics, robotics, machine learning and artificial intelligence (AI), Internet of Things (IoT), mobile, security, hybrid, virtual and augmented reality (VR and AR), media, and application development, deployment, and management from 61 Availability Zones (AZs) within 20 geographic regions, spanning the U.S., Australia, Brazil, Canada, China, France, Germany, India, Ireland, Japan, Korea, Singapore, Sweden, and the UK. Millions of customers including the fastest-growing startups, largest enterprises, and leading government agencies—trust AWS to power their infrastructure, become more agile, and lower costs. To learn more about AWS, visit aws.amazon.com.

    About Amazon

    Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Customer reviews, 1-Click shopping, personalised recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Fire tablets, Fire TV, Amazon Echo, and Alexa are some of the products and services pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews.

    About Standard Bank Group

    Standard Bank Group is the largest African bank by assets with a unique footprint across 20 African countries. Headquartered in Johannesburg, South Africa, we are listed on the Johannesburg Stock Exchange, with share code SBK, and the Namibian Stock Exchange, share code SNB.

    Standard Bank has a 156-year history in South Africa and started building a franchise outside southern Africa in the early 1990s.

    Our strategic position, which enables us to connect Africa to other select emerging markets as well as pools of capital in developed markets, and our balanced portfolio of businesses, provide significant opportunities for growth.

    The group has more than 53 000 employees, approximately 1 200 branches and over 9 000 ATMs on the African continent, which enable it to deliver a complete range of services across personal and business banking, corporate and investment banking and wealth management.

    Headline earnings for 2018 were R27.9 billion (about USD2.1 billion) and total assets were R2.1 trillion (about USD148 billion). Standard Bank’s market capitalisation at 31 December 2018 was R289 billion (USD20 billion).

  • user 4:54 pm on February 4, 2019 Permalink | Reply
    Tags: Amazon, , , , , , , ,   

    Google And Amazon Favor Fed Role In Real Time Payments 

    If are worried about big tech players getting into , they have a right to be — and , among others, would like access to Fed faster payments.
    Financial Technology

  • user 12:18 am on March 21, 2018 Permalink | Reply
    Tags: Amazon, , , , , ,   

    Backed by Amazon, Greenlight Financial to Add Credit Product 

    EXCLUSIVE— Inc., a PFM that provides “smart debit cards” to more than 100,000 users to begin financial literacy conversations with their children, is launching a . “We’re working on several things for 2018—what we’re doing seems to be resonating,” Greenlight CEO and co-founder Tim Sheehan told Bank Innovation. “Credit is interesting, investing …Read More
    Bank Innovation

  • user 12:18 am on March 20, 2018 Permalink | Reply
    Tags: Amazon, , , , ,   

    Will the ‘Bank of Amazon’ Make Mobile Payments Mainstream? 

    EXCLUSIVE— Most consumers in the United States stubbornly cling to their plastic , even as customers in other countries — see China — increasingly embrace at a steady rate and other digital forms of payment. This could be due to the fact that, as many in have stated, the card infrastructure in the …Read More
    Bank Innovation

  • user 12:18 am on March 10, 2018 Permalink | Reply
    Tags: , Amazon, , , , Megabanks, Pose, Tough   

    The ‘Bank of Amazon’ Could Pose Tough Competition for the Megabanks 

    As if reports of ’s hasn’t shaken up the financial industry enough, a new report by Bain &; Company shows that the &;Bank of Amazon&; amass more than 70 million customers within the next five years, directly rivaling Wells Fargo bank, which currently has about that number of customers. The reports lead authors …Read More
    Bank Innovation

  • user 12:18 pm on December 4, 2017 Permalink | Reply
    Tags: , , Amazon, InSkill,   

    Amazon Adds In-Skill Payments to Alexa 

    Businesses and developers will soon be able to accept directly through voice apps on ’s device, the company announced yesterday during its re:Invent event in Las Vegas. This essentially works the same way as a mobile in-app purchase would: after reaching a limit of free content on participating voice skills, users can now [&;]
    Bank Innovation

  • user 12:18 pm on November 6, 2017 Permalink | Reply
    Tags: Amazon, , Domain, , ,   

    Amazon Registers Three Cryptocurrency Domain Names 

    Technologies, a subsidiary of e-commerce giant Amazon, has acquired relating to : “amazoncryptocurrency.com,” “amazoncryptocurrencies.com,” and “amazonethereum.com.” Exactly why Amazon decided to register all three of these domain names, no one really knows. This has, predictably, not stopped observers from speculating about what type of grand schemes Amazon may have in the [&;]
    Bank Innovation

  • user 12:18 pm on November 5, 2017 Permalink | Reply
    Tags: , Amazon, , ,   

    Fintechs Are No Threat to Banks — But Amazon and Alibaba Are 

    The biggest for the banking sector is not . No, according to a recent report by McKinsey, that would be non-banking companies such as and . The report refers to these companies as “platform companies” and calls them the “new heavyweight competitor(s) in town,” for the banking sector. Based on information gathered from [&;]
    Bank Innovation

  • user 12:18 pm on August 28, 2017 Permalink | Reply
    Tags: ‘Top, , Amazon, , , , ,   

    Amazon Launches Cash ‘Top Up’ Service for U.K.’s Underbanked 

    For the approximately 1.5 million consumers in the United Kingdom, is still king, a fact e-commerce giant is keeping in mind with the launch of its “Top Up” . The service, which works like Amazon Cash, is live today in the U.K. It enables individuals to put up to £250 into their [&;]
    Bank Innovation

  • user 12:18 pm on July 17, 2017 Permalink | Reply
    Tags: , Amazon, , , , , , , ,   

    Amazon Prime Day Sees ‘Record’ Shopping (Just Don’t Compare to Alibaba’s Singles’ Day) 

    Who sold it better — Alibaba, during 2016 Singles&; Day or , during today’s Day? With respect to Amazon’s ‘ levels’ of shoppers today, according to company statements, Singles&8217; Day is probably going to stay on top — despite Amazon shoppers acting like this, at least according to Twitter: Actual footage of how [&;]
    Bank Innovation

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