Financial institutions Standard Chartered and Alibaba Group team up for artificial intelligence collaborations in the financial sector.
Standard Chartered, a leading international banking group, and Alibaba Group Holding Limited have announced a strategic partnership aimed at leveraging Alibaba Cloud's AI technologies to drive digitalization in the financial sector.
This alliance will enhance Standard Chartered's banking operations globally through AI-powered innovations such as AI-assisted customer service systems, automated risk management, and AI-driven sales intelligence to boost customer engagement.
Key areas of collaboration include:
- AI-assisted customer service: Implementation of 24/7 AI customer assistants to improve responsiveness and multilingual support using Alibaba’s large language models (LLMs) like Qwen3.
- Automated risk management and compliance: Utilizing AI to enhance fraud detection, regulatory compliance processes, and reduce operational risks with automation.
- Tailored banking services: Standard Chartered will provide Alibaba with customized financial solutions supporting its global business expansion, including supply chain financing, cross-border fund management, treasury services, and sustainable finance initiatives focused on ESG (environmental, social, and governance) goals.
- Skills development: Joint AI workshops and certification programs to upscale Standard Chartered’s workforce in AI competencies.
- Sustainable development: Both parties emphasize sustainable development and green financing as part of the collaboration to positively impact communities.
Bill Winters, Group Chief Executive of Standard Chartered, and Eddie Wu, CEO of Alibaba Group, expressed their excitement about the partnership. This partnership signifies a deep integration of Alibaba’s technological prowess, particularly in AI and cloud computing, with Standard Chartered’s financial expertise, enabling both companies to innovate their service offerings and create long-term value for clients globally.
The partnership is expected to support Alibaba Group's global strategic development and promote innovation and growth in the financial sector. Standard Chartered is further investing in AI to enhance its digitalization efforts in the financial sector.
In addition, Alibaba Group's AI technologies will be implemented for automated risk management within Standard Chartered. The partnership aims to strengthen cooperation in sustainable development and sustainable finance, focusing on initiatives that positively impact communities and support ESG goals.
This partnership cements Alibaba Cloud’s position as Standard Chartered’s primary AI solutions provider across its global operations. Through AI-powered customer service, automated risk and compliance management, tailored financial services, and employee upskilling, the partnership aims to transform Standard Chartered’s banking operations while supporting Alibaba’s fintech expansion worldwide.
The finance business of Standard Chartered will be transformed through the implementation of AI-powered customer service systems and automated risk management, facilitated by Alibaba Cloud's AI technologies. This strategic partnership aims to strengthen cooperation in sustainable development and sustainable finance, focusing on initiatives that positively impact communities and support ESG goals.
