Old Mutual and Amazon Web Services to launch new bank in South Africa

Old Mutual is partnering with Amazon Web Services (AWS) to launch a new digital bank in South Africa.

1. The new bank will be fully cloud-based and will leverage AWS’s cloud infrastructure to provide secure and scalable banking services to customers.
2. The partnership with AWS will allow Old Mutual to rapidly develop and deploy new digital banking services while ensuring the security and reliability of its systems.
3. The new digital bank is expected to launch in South Africa in 2022 and will initially target the retail banking market.
4. Old Mutual’s move into digital banking is part of a broader trend towards digital transformation in the financial services industry.
5. The partnership with AWS represents a shift towards more agile and flexible technology infrastructure for Old Mutual.