Standard Chartered has launched SC PrismFX, a new suite of cross-currency transactional foreign exchange (FX) solutions.

Available to financial institutions, non-banking financial institutions, PayTech companies, and corporations globally, SC PrismFX integrates the bank’s transaction banking, financial markets, and digital platform capabilities.

It offers FX payment services in over 130 currencies across more than 40 markets.

The bank says SC PrismFX provides corporate clients such as bp with a consistent FX payments experience, competitive pricing, and emerging market insights, along with payables, receivables, and trade finance solutions.

For PayTech clients such as Ant International, the suite offers a broad distribution and payments network, connectivity to local and instant payment schemes, and digital FX solutions.

Financial institution and non-banking financial institution clients can access a wide range of FX currencies with upfront rate visibility, automated FX payments, faster multi-destination delivery, Auto FX Conversion, and full control over margins and rates for their own customers.

Michael Spiegel, Global Head of Transaction Banking at Standard Chartered, said,

“SC PrismFX offers clients access to a robust payment distribution network with direct clearing across multiple domestic schemes.

Our strong on-the-ground network in some of the world’s most dynamic markets, coupled with our continued investments in our platforms give us an edge in the market and allow us to offer our clients an end-to-end transactional FX solutions suite that can be tailored to their specific needs.”

Ankur Kanwar, Head of Transaction Banking & Cash Management, Singapore and ASEAN; and Global Head of Structured Solutions Development, Cash Management, Standard Chartered, said,

“SC PrismFX is a digital-first, future-ready solution that provides a seamless, efficient and a globally consistent experience across all client transactional FX needs.

Leveraging the strengths of our FX and platform capabilities, as well as diverse in-market expertise, this solution brings greater convenience, efficiency and competitiveness to the table for our clients.”

Featured image credit: Edited from Freepik