SAP's Falk Rieker and Standard Chartered's Tom Pfaff on Driving Digital Transformation | Cloud Wars Live

Cloud Tech in Banking


The Big Themes:


Principles and people-centered transformation: Core
principles such as standardizing processes and ensuring data
integrity drove Standard Chartered's transformation. The
transformation was not merely about technology but about enabling
its people to perform their jobs more effectively. This
people-centered approach ensured that technological changes
translated into real, practical improvements in daily operations.

Strategic partnership: SAP provided a robust platform that
supported Standard Chartered's data strategy and operational
needs across diverse markets. Falk Rieker noted the significance
of programs like RISE with SAP and GROW with SAP in facilitating
the bank's transition to the cloud, addressing regulatory
requirements, and enhancing process efficiencies.

Leveraging data and AI for future innovations: With a unified
data environment, Standard Chartered can leverage advanced
technologies like artificial intelligence to drive better
business insights, efficiency, and sustainability efforts. This
strategic approach positions the bank to quickly implement new
tools and capabilities.



The Big Quote: "When we embarked on our transformation, it was
not to transform the technology, it was to transform our finance
and treasury functions that supported the bank . . . we picked
the best platform that would support that target operating model
and support that transformation . . . So, we went into this with
SAP."


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