Standard Bank, Africa’s largest financial institution, is investing in Microsoft Azure to accelerate its digital transformation and drive growth in the region.

The bank’s cloud investment will involve migrating workloads, applications, and platforms to Microsoft Azure.

As part of the partnership, the organisations will establish the African Digital Foundry (The Foundry), a strategic alliance, for Standard Bank and Microsoft to collaborate to co-create solutions through new technology to meet the financial needs of Africa’s consumers.

Through the Foundry, the companies aim to reach 100 million customers in Africa over the next five years.

The companies will also bring together their resources to provide young people and small businesses with digital skills.

“Investing in the cloud will allow Standard Bank to achieve its strategy to transform from a traditional financial services company into a digital platform company, providing financial services, plus ancillary and associated services,” said Standard Bank Group chief executive, Sim Tshabalala. “We have adopted a cloud-first strategy, underpinned by end-to-end security and data-driven insights that will enable transformation with tangible results.”

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