Standard Chartered Partners with Alibaba to Embed AI in Finance

(Digital Phablet) July 30 — UK banking giant Standard Chartered and Chinese internet powerhouse Alibaba Group Holding have joined forces to advance financial services through artificial intelligence.

Standard Chartered will leverage Alibaba’s cloud computing platform to accelerate the integration of AI within the financial industry, the London-based bank announced yesterday. This initiative aims to boost operational efficiency and improve the overall customer experience.

The bank intends to strengthen its competitive position by utilizing Alibaba Cloud’s intelligent solutions and AI technology. “This includes developing AI-driven customer service and sales insights to enhance customer engagement, automating risk management and compliance processes driven by AI, and upskilling employees through AI workshops and certifications,” it stated.

“We are making substantial investments in innovative technologies like AI, which are reshaping our business models and the future of finance,” said Bill Winters, CEO of Standard Chartered. “By combining Alibaba’s technological expertise with our financial knowledge, we aim to unlock the full potential of AI, fostering innovation while creating long-term value for our clients, employees, and communities.”

Furthermore, Standard Chartered will offer a full suite of banking services customized to support Alibaba’s global expansion efforts, including financial support, supply chain financing, and cross-border fund management solutions.

“From education to healthcare and scientific research, AI has already demonstrated its ability to drive meaningful change,” said Eddie Wu, CEO of Alibaba. “We are excited to partner with Standard Chartered to lead the transformation in the financial sector.”

In February, Alibaba announced plans to invest over CNY 380 billion (USD 53 billion) in infrastructure development for AI and cloud computing, foundational AI model platforms, AI-native applications, and the transformation and upgrading of existing business operations over the next three years.

Alibaba is accelerating the global deployment of its AI offerings, including its latest large language model Qwen3, which supports 119 languages and has gained popularity across Japan, Southeast Asia, and various Middle Eastern countries, Wu revealed in May.