“The first to launch API services for cash, trade and securities services”

“The first to launch API services for cash, trade and securities services”

Standard Chartered has unveiled its Open Banking Application Programming Interface (API) Developer Portal for transaction banking.

The launch is part of its “digitisation agenda” and to increase collaboration with corporates, fintech firms and developer communities. The portal will initially provide a repository of API services focused on cash management and then roll out other API services for the bank’s other businesses.

Gautam Jain, global head, digitisation and client access, transaction banking, Standard Chartered, says it is “the first to launch API services for cash, trade and securities services” and “open banking has the potential to fundamentally change how we deliver the bank to our clients”.

Using this “collaborative ecosystem”, firms and individuals can develop, test and deploy their APIs within the bank’s sandbox.

Cuts and campuses

The last few months of 2016 were a mixed bag for Standard Chartered.

It is set to cut about a tenth of its global corporate and institutional banking headcount. The job cuts will start in Hong Kong and Singapore and will eventually affect all major business hubs of Standard Chartered.

Byte Academy partnered with Standard Chartered and tech heavyweights for a fintech campus in Singapore – with planned programmes in fintech, data science and Python full-stack development.

Comments
  • Robert Grabrijan 10 February, 2017 at 1208

    An open API developer portal banking is a necessary step for any bank that considers PSD2 as strategic chance to collaborate with fintech market.

  • Peter Giabrone 24 February, 2017 at 0644

    Standard Chartered being a big player in Transaction Banking space is in right direction on offering Cash Management APIs and I think Trade Finance is an important area which they should focus on.

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