Standard Bank scales AI and cloud deployment across Africa

Standard Bank, Africa’s largest bank by assets, has reported significant progress in its digital transformation, specifically through the large-scale deployment of artificial intelligence and cloud technology. The bank reported that 72% of its employees were active users of generative AI tools as of June 30, with 87 approved use cases currently in operation.

In partnership with Huawei, the bank has integrated AI solutions across 21 markets, serving more than 20 million clients. This initiative utilizes a hybrid cloud strategy that has replaced legacy systems in 10 countries, reportedly reducing technological infrastructure operating costs by 40% to 60% in those regions. The deployment includes intelligent contact centers that automate over 50% of repetitive tasks.

Financially, Standard Bank reported headline earnings of R26.1 billion for the six months ended June 30, a 10% increase. The bank also achieved a return on equity (ROE) of 19.8%, aligning with its long-term targets. The group’s IT spending reached R11.8 billion during the same period, supporting a technology platform where 78% of migratable compute is now in the cloud.