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Standard Chartered moves to accelerate API adoption by corporate treasury teams

Standard Chartered moves to accelerate API adoption by corporate treasury teams

Standard Chartered is working with fintech FinLync to help corporate treasury and finance teams connect to the bank's API offerings.

Standard Chartered says that the partnership will help clients make the shift to real-time treasury and significantly increasing working capital efficiency.

Corporates will be able to make decisions faster, more frequently and based on more-precise information, giving them an edge over their competition without the time and financial investments typically required in such integration projects.

The bank has a host of APIs available via its Open Banking platform, aXess, including Transactions, Payment Initiation, Payment Status and Balances. FinLync’s technology can directly embed account data into any clients’ ERP platform, especially for SAP, providing real-time visibility into account data and cash positions.

Philip Panaino, global head, cash management, Standard Chartered says: “Beyond the building of APIs, we recognise the need to take the next step in ensuring that corporates can access these solutions in a fast, secure and easy-to-use manner, to fully deliver the benefits of this seamless connection."

Comments: (1)

Andrew Smith
Andrew Smith - RTGS & ClearBank - London 06 October, 2021, 09:47Be the first to give this comment the thumbs up 0 likes

Just as we start to understand the possibilities of APIs in the financial services sector, we have to start realising that tech firms rarely now connect directly to APIs, rather orchestration and event models are used to remove dependencies on direct API interfaces....

I hope that the financial services sector gets to grip with event models and orchestration sooner rather than later, if they don't they will soon be finding out that their API world is actually a mini-disc moment...