It will use AWS' portfolio of cloud services, including compute, containers, storage, database, analytics, machine learning, and security, to develop new digital products and support security and compliance standards.
HSBC has signed a multi-year, global agreement with cloud computing provider Amazon Web Services, a subsidiary of online retail giant Amazon, to accelerate the use of the cloud in its operations, according to a media statement on Wednesday.
HSBC will make AWS technology available across the bank’s lines of business, starting with customer-facing applications and application modernization in its Global Wealth & Personal Banking business. Migrating to AWS will help the bank drive digital transformation and deliver new and personalized banking services, the announcement said.
«Our ambition is to make it easy, safe, and reliable for customers to bank with us, whenever and wherever they are. HSBC’s collaboration with AWS helps us to deliver innovative banking solutions to customers at a faster rate,» Dinesh Keswani, HSBC chief technology officer and CIO for digital, said.
Digital Drive
The deal with AWS comes amid sweeping restructuring plans. New chief executive Noel Quinn has committed to a large-scale overhaul of the bank, under which digitalization is playing a central role in its bid to be a «a stronger and leaner business.»
In a 2019 interview, Keswani said the bank would invest $17 billion in technology through 2022. The bank currently manages 169 petabytes of data, with data centers in 21 countries and more than 90,000 servers for its operations.
