(Yicai) July 30 -- Standard Chartered and Alibaba Group Holding are partnering to integrate the artificial intelligence technologies of the Chinese internet giant’s cloud computing arm into the UK bank’s financial services, with the goal of sharpening the lender’s competitive edge.

Standard Chartered will use Alibaba Cloud’s AI technologies to boost operational efficiency, customer engagement, risk management and compliance, and staff capabilities, the London-based bank said in a press release yesterday.

The partnership comes amid competition among banks and tech firms globally to deploy generative AI for everything from 24/7 virtual assistants and real‑time fraud detection to automated compliance monitoring. Other such alliances include HSBC with Google Cloud and J.P. Morgan Chase with Microsoft.

“We are investing heavily in cutting-edge technologies like AI, which are transforming our own business model and reshaping the future of finance,” said Bill Winters, chief executive officer of Standard Chartered.

“By combining Alibaba's technological prowess with our financial expertise, we look to harness the full potential of AI technologies to advance on our innovation agenda while also creating long-term value for our clients, colleagues, and communities,” he added.

In return, Standard Chartered will provide a comprehensive range of banking services tailored to Alibaba's business needs, supporting the Hangzhou-based firm's global expansion, including financial support, supply chain financing, and cross-border fund management solutions, it said.

In return, Standard Chartered will provide Alibaba with a tailored suite of banking solutions, including working‑capital financing, supply‑chain funding, and cross‑border treasury services, to support the Hangzhou-based group’s accelerating global expansion.

“From education to healthcare and scientific research, AI has already shown its potential to drive transformational change," noted Alibaba CEO Eddie Wu, adding that the company is thrilled to partner with Standard Chartered to shape the transformation of the financial sector.

In China, Alibaba Cloud’s banking sector AI partners include Industrial and Commercial Bank of China and China Construction Bank.

Its tie-up with Standard Chartered follows Alibaba’s February pledge to invest more than CNY380 billion (USD53 billion) in cloud computing and AI infrastructure over three years and the spring rollout of its multilingual Qwen3, which now serves users across Japan, Southeast Asia, and the Middle East.

Editor: Martin Kadiev