StanChart Debuts Open Banking Marketplace for Digital Transformations

StanChart Debuts Open Banking Marketplace for Digital Transformations

by April 23, 2024

Standard Chartered announced today the introduction of its Open Banking Marketplace, a comprehensive platform designed to facilitate easier access to application programming interfaces (APIs) for both new and existing clients.

The platform, which debuted at Money20/20 Asia in Bangkok, aims to shorten the time from discovery to implementation for corporate clients engaging in digital transformations.

by allowing their developers to start coding and plugging into the bank’s open banking ecosystem to simulate the experience almost immediately.

The Open Banking Marketplace serves as an upgrade to the bank’s initial aXess platform launched in 2019, focusing on enriching user experience and fostering a smoother adoption of open banking by offering over 100 API products.

These range from cash management and foreign exchange to trade and securities, providing a robust toolset for businesses to integrate these functions into their operations.

Corporate users can now browse and filter industry-specific solutions in 33 global markets, establish project spaces for team testing in a sophisticated simulation environment, and explore updated developer resources, including guides on API technology and security protocols.

Standard Chartered has highlighted several past client successes on the platform to showcase practical applications of its APIs in various industries, aiming to demonstrate the tangible benefits of integrating these technologies.

The platform requires interested parties to register for an account, subject to the Bank’s review, to access its full capabilities, including the simulation environment that replicates real-world API integration.

Mark Willis

Mark Willis

Mark Willis, Global Head of API & Open Banking Ecosystems at Standard Chartered said,

“The initial feedback from our clients and partners have been extremely positive – through the various resources available on the platform, we hope that more of them can draw inspiration from the other organisations who have successfully tapped into our suite of API products to realise their business objectives.”