Standard Chartered – Digital Transformation Strategies
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Standard Chartered Digital Transformation Strategies Report Overview
Standard Chartered has been focusing on cloud, automation, and open banking to digitally transform its operations. The annual ICT spending of Standard Chartered was estimated at $459.2 million for 2023. A major share of this spending is earmarked for acquiring software, network & communications, and hardware from vendors. Standard Chartered provides global financial services such as personal, wholesale, private, SME, and business banking solutions. Its portfolio of products includes savings and current accounts; fixed and term deposits; credit and debit cards; and loans for personal needs, home purchases, and corporate requirements. It also offers investment products and life, health, medical, home, and auto insurance. In addition, the company provides transactional banking, mergers and acquisitions advice, investment advice, wealth management, Islamic banking, and private banking. It serves its customers through a network of branches and outlets across the globe.
Total ICT Spending 2023 | $459.2 million |
ICT Spend by Function | Data center, Communications, Network, Application, End-User computing, Management, and Service Desk |
ICT Spend by Channel | Internal Development and Maintenance, Technology Vendors (Direct), Local Resellers, Telcos, ICT Services Providers/Consulting Firms, Specialist Outsourcers, and Systems Integrators |
External ICT Spend by Segment | Software (Including Cloud SaaS), Hardware (Including Cloud IaaS), ICT Services, Consulting, Network and Communications, and Others |
Technology Theme Focus | AI, Big Data, Cloud, Blockchain, Open Banking, Fintech |
The Standard Chartered Digital Transformation Strategies report will act as a reference point to understand a company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. The information included in these reports is sourced from a mix of our very own internal database and authentic secondary research links such as the company’s annual report, presentations, press releases, etc. The report covers an overview of the company, its digital transformation strategies, technology focus areas, accelerator programs and innovation centers, technology partnerships, technology introductions, and ICT spending among others.
Digital Transformation Strategies
Standard Chartered is tapping into big data, analytics, cloud, and open banking technologies to improve customer service. The company has launched cloud and open banking-based digital services and mobile apps in 48 countries.
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Standard Chartered Technology Theme Focus
Standard Chartered is utilizing several emerging technologies including AI, cloud, big data, cybersecurity, blockchain, open banking, and fintech among others to enhance its operational and service capabilities.
Standard Chartered Technology Focus
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Standard Chartered Technology Initiatives
Standard Chartered has been involved in several strategic technology partnerships and collaborations, and technology developments and rollouts over the last few years. For instance, in 2021, Standard Chartered collaborated with global fintech company FinLync to help corporate treasury and finance teams connect to the bank’s API offerings. This integration helps corporates improve their decision-making and reduce risks.
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Standard Chartered ICT Spend by Function
- Datacenter
- Communications
- Network
- Applications
- End-user computing
- Management
- ICT Service desk
Standard Chartered ICT Spend by Function, 2023 (%)
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Standard Chartered ICT Spend by Channel
- Internal development and maintenance
- Technology vendors (direct)
- Local resellers
- Telcos
- ICT services providers/consulting firms
- Specialist outsourcers
- Systems integrators
Standard Chartered ICT Spend by Channel, 2023 (%)
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Standard Chartered External ICT Spend by Segment
- Software (including Cloud SaaS)
- Hardware (including Cloud Iaas)
- ICT services
- Consulting
- Network and communications
- Others
Standard Chartered External ICT Spend by Segment, 2023 (%)
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Scope
This report provides:
- Insight into Standard Chartered’s technology activities.
- Insights of its accelerator programs and innovation centers.
- Overview of technology initiatives covering partnerships, and technology introductions.
- Insights on each technology initiative including technology theme, objective, and benefits.
- Details of estimated ICT budgets.
Reasons to Buy
- Gain insights into Standard Chartered’s technology operations.
- Gain insights into its technology strategies and innovation initiatives.
- Gain insights into its technology themes under focus.
- Gain insights into its various partnerships.
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Table of Contents
Frequently asked questions
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What was the total ICT spending of Standard Chartered in 2023?
The annual ICT spending of Standard Chartered was estimated at $459.2 million in 2023.
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Which is the leading ICT spending category by function for Standard Chartered?
The network is the leading ICT spending category by function for Standard Chartered in 2023.
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Which is the leading ICT spending category by channel for Standard Chartered?
Internal development and maintenance is the leading ICT spending category by channel for Standard Chartered in 2023.
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Which is the leading ICT spending category by segment for Standard Chartered?
Software (including cloud SaaS) is the leading ICT spending category by segment for Standard Chartered in 2023.
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What are the key technology themes in focus for Standard Chartered?
The key technological themes in focus for Standard Chartered are AI, big data, cloud, blockchain, open banking, and fintech.
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