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