Leading the way to offer API services for Transaction Banking
Standard Chartered announced today the launch of its Open Banking Application Programming Interface (API) Developer Portal, one of the pioneers in the industry to offer API services for transaction banking. The launch of the portal will enable the Bank to further its digitisation agenda and increase collaboration with a wide spectrum of partners including corporates, FinTechs and the developer communities.
The portal will initially provide a repository of transaction banking API services focussed on cash management and progressively rollout other API services for the Bank’s other businesses. This will enable clients and partners to develop value added applications by integrating their services with the bank while reducing the integration costs and time.
Gautam Jain, Global Head, Digitisation and Client Access, Transaction Banking, Standard Chartered, said “We are redefining the traditional transaction banking space by being the first to launch API services for Cash, Trade and Securities Services. As the industry moves more towards open platforms, we believe that API banking will become essential in providing value to our clients and partners, while encouraging collaboration between financial institutions and developer communities. This has the potential to fundamentally change how we deliver the bank to our clients.”
With Standard Chartered’s global footprint and rich experience in collaborating with regulators, client segments and FinTechs, the various partners in the collaborative ecosystem will be able to quickly develop, test and deploy their API’s using the sandbox that the Bank has created, thus extending the Bank’s distribution and servicing capabilities and reach.
For more information or to apply for access to the API Developer Portal, please visit https://developer.sc.com.