Standard Bank has signed a wider technology deal with Huawei that will move its core banking systems onto the cloud. The two companies announced the deal at Huawei Connect 2026 in Shanghai, China.
The new agreement covers cloud technology, data, artificial intelligence and the updating of the bank’s older software. It builds on a partnership the two companies first set up in 2024.
“When technology lowers our cost to serve, it makes it commercially viable to reach communities that have historically been excluded from traditional financial services,” said Funeka Montjane, Standard Bank Group chief executive of personal and private banking.
Montjane spoke at the signing ceremony. She said access to modern technology is needed to bring banking to more people across Africa. She said it can help more people save, invest and build a better future for their families.
Standard Bank Group is Africa’s largest bank by assets. It works in 21 countries, and each market has its own rules, infrastructure and customer needs.
According to Huawei, the deal will help the bank move from old systems to a cloud setup. Huawei said this should make the bank’s IT work faster and allow quicker, more personal digital services for customers.
Jason Cao, CEO of Huawei’s digital finance business unit, said the bank’s choice to trust Huawei with its core banking systems showed the company’s ability. He said Huawei would work with software partners to give the bank a secure base for the upgrade.
Leo Chen, Huawei senior vice president and president of enterprise sales, called the deal a fresh starting point for both companies. He said Huawei would keep investing in computing power, AI, cloud, data and software.
The deal was signed by Tsebeletso Mashau, Standard Bank’s chief information officer for Africa regions, and Kui Zheng, deputy general manager of Huawei Enterprise South Africa.
“It is really about the possibilities that it unlocks for what we can do for our clients,” Mashau said. She said the agreement would be remembered for what it made possible for clients, not for the money spent on technology.
Khomotso Molabe, another deputy group chief information officer at Standard Bank, said the group wants to make its technology simpler and more modern. “We are building a high-performance, resilient and customer-centric technology platform for the future,” Molabe said.
Will Meng, CEO of Huawei South Africa, said he hoped the partnership would lead to real projects and a strong team of skilled staff. He said Huawei wants to be the bank’s most trusted delivery partner.
The two companies said they will also look at using AI for customer service, fraud detection, risk decisions and daily operations.
The new cloud platform will be rolled out in phases to match the group’s changing business and customer needs, the companies said.
Source: this article is based on reporting by TechCentral. Image: TechCentral. Written with the help of AI and published by the Tzaneen Voice Technology desk. See our Editorial Standards.
Werner Jacobs covers technology for Tzaneen Voice. Werner reports on mobile networks, data prices, internet access, smartphones, apps, AI, cybersecurity and South African tech companies. Each story explains what a new product, price change or policy means for ordinary users in South Africa.