AWS and HSBC strike global cloud banking deal

By Daniel Lanyon on Wednesday 15 July 2020

Digital Banking

Fintech banking challengers such as OakNorth, Monzo and Starling were early cloud adopters but big banks are now starting to prioritise digital transformation.

AWS and HSBC strike global cloud banking deal
Image source: Photo by Christina Morillo from Pexels

Amazon Web Services and HSBC  have struck a long-term strategic deal as the bank as it gears up to drive a long term digital transformation  

As part of a multi-year, global agreement, HSBC will make AWS technology available across the bank’s lines of business, starting with customer-facing applications and application modernisation in its Global Wealth & Personal Banking business. 

HSBC says the enormous migration to AWS will enable it to drive innovation, automate key processes, and enhance operational efficiency across a range of personal financial services.  

It will use AWS’ full range of cloud services, including compute, containers, storage, database, analytics, machine learning, and security, to develop new digital products and support security and compliance standards for millions of personal banking customers worldwide.  

“Our work with AWS is an example of how HSBC continues to invest in secure and advanced technologies to make our digital banking experience even better for customers,” said Dinesh Keswani, Chief Technology Officer and CIO for Digital, HSBC.  

HSBC is continuing to expand its use of AWS to power its digital transformation and deliver innovative financial services that help customers manage, protect, and grow their wealth in new and more personalised ways,” said Frank Fallon, Vice President, Financial Services.

HSBC currently adopts a multi-cloud strategy with deals also with Google Cloud and MS Azure.

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