Standard Chartered strikes corporate multibank connectivity through Starfish Digital partnership
Standard Chartered is launching a multibank connectivity service through a partnership with the Singapore-headquartered financial connectivity platform Starfish Digital.
Standard Chartered partners Starfish Digital
The bank’s new service seeks to benefit its corporate clients’ inter-bank connectivity and cash management processes while claiming to support real time visibility and access into cash holdings. This has been made possible by the fintech’s Software-as-a-Service (SaaS) platform, Starfish Connect, which connects corporate finance, enterprise resource planning and treasury management systems to corporate banking services.
Standard Chartered claims that the partnership has enabled it to support its clients’ transition to real-time treasury, while furthering its own endeavour to expand the APIs within its open banking platform aXess.
According to Janet Thomas, Standard Chartered’s global head of strategic platform partnerships, the bank is experiencing a growing demand among its multinational corporate clients for the digitisation of banking relationships and more accurate cash position and cash flow forecasts.
“Our partnership with Starfish Digital allows us to directly respond to this need, by offering a plug-and-play solution that provides a real-time treasury experience,” she comments.
Patrick Huang, CEO of Starfish Digital echoes this trend, agreeing that it too is seeing “tremendous demand” for the capabilities outlined in its SaaS platform, “especially from companies exposed to real-time payments”.
