Standard Chartered has earlier announced that it is bolstering its open banking capacities , having a focus on driving innovation and technology culture through partnerships and openness with developers, corporations and fintechs to co-create better customer products and services throughout the sharing and application of Application Programming Interface (APIs).
The bank has introduced several new initiatives.
The very first of these is the platform, whose goal is to provide developers open access to the bank’s available source code to get banking products and its own APIs, software, and libraries. It serves as an adaptive layer in its engineering architecture to drive more partnerships and connectivity between corporations developers and fintechs, therefore solutions could be co-created.
Another of those initiatives would be aXess Labs, that will be a Bengaluru-based evaluation laboratory, where the Bank’s in-house developers will experiment with cutting edge technologies, accelerate ideation to service delivery, empower new business units, and also share open banking best practices, capabilities, and tools across the Bank.
Standard Chartered was trying to drive innovation. It has been co-creating solutions to increase client experience and continues to be forging partnerships and alternatives to change it approaches and believes about accounting. The bank declared the establishment of a joint venture with HKT PCCW and Ctrip Finance to provide a new standalone electronic banking in Hong Kong.
Standard Chartered has also recently declared the SC Ventures Fintech Bridge, an online platform, by which the bank expects partnerships with all fintechs to solve business challenges that meet present and future client needs.
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Dr Sebastian Wedeniwski, the Bank’s Chief Technology Strategist stated:”The future of banking is changing fast with massive technology-led innovations. Our aXess attempts to boost our open banking capacities aims to enhance the developer experience and upskill the technology experience of the Bank, even while guiding developers on our journey build for openness and integration.”
In the end, the aXess Academy intends to boost the skills of the programmers of this Bank, providing them with the technical know-how required for receptive banking via technology leadership roundtables, hackathons, and training programs. It is a forum for media with tech networks in different industries.