Standard Bank Group Selects AWS as Its Preferred Cloud Provider

SEATTLE–()–Today, Amazon Web Services, Inc. (AWS), an
company (NASDAQ: AMZN), announced that Standard Bank 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 organization
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
recognize we need to adopt a cloud-first approach to our business. AWS
Cloud technology will create a springboard for Standard Bank Group,
helping us to rapidly roll out our digitization 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 organization
of the future and to be positioned as more than a bank.”

“The cloud is transforming the financial services industry as
organizations 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

About Amazon

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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

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