Standard Chartered has entered into a strategic technology and growth partnership with Alibaba Group, aiming to accelerate the adoption of artificial intelligence (AI) in the financial services sector. The partnership will see both companies working closely to integrate Alibaba Cloud’s AI technologies into the bank’s operations and service delivery.
Driving operational efficiency and customer engagement
As part of the agreement, Standard Chartered will adopt Alibaba Cloud as its strategic AI technology partner. The bank will leverage Alibaba’s intelligent solutions to boost its operational capabilities and improve customer experiences. Key areas of focus include developing AI-powered customer service tools, sales intelligence solutions to deepen client engagement, and automated systems for risk management and compliance.
The collaboration also involves internal development, with plans to upskill Standard Chartered staff through AI workshops and certifications. This initiative is expected to support the bank’s broader strategy to embed AI across its functions and strengthen its position in a rapidly evolving financial landscape.
Supporting Alibaba’s global growth
In return, Standard Chartered will provide a suite of financial services tailored to Alibaba Group’s international business needs. This includes financing support, cross-border fund management solutions, and supply chain financing. The two companies also plan to work more closely in financial markets and strengthen cooperation in sustainable development and sustainable finance.
This dual-purpose partnership highlights both organisations’ commitment to long-term growth, digital innovation, and sustainability. By aligning technology with finance, the partnership is positioned to create broader impact across sectors and geographies.
Leadership insights on the partnership
Bill Winters, Group Chief Executive of Standard Chartered, said: “We are investing heavily in cutting-edge technologies like AI, which are transforming our own business model and reshaping the future of finance. I am excited to build on our existing relationship with Alibaba Group – a global leader in AI and other areas including e-commerce and retail – and advance our shared commitment to transformative innovation. By combining Alibaba Group’s technological prowess with our financial expertise, we look to harness the full potential of AI technologies to advance on our innovation agenda while also creating long-term value for our clients, colleagues, and communities.”
Eddie Wu, CEO of Alibaba Group, added: “From education to healthcare and scientific research, AI has already shown its potential to drive transformational change. We are thrilled to partner with Standard Chartered, a global leader in financial services, to shape the transformation in the financial sector. Through this strategic alliance, we will combine Alibaba’s technological expertise with Standard Chartered’s deep industry knowledge to unlock new possibilities.”
This collaboration reflects a growing trend of strategic alliances between financial institutions and technology providers as AI becomes a key driver of innovation and competitiveness in the industry.
