Standard Chartered launches new Open Banking Marketplace

By Gloria Methri

Standard Chartered has launched its new Open Banking Marketplace, a one-stop platform that enables both existing and prospective clients to discover, identify, and test APIs in a sandbox environment.

Corporations keen to partner with the Bank in their digital transformation will benefit from a shorter discovery and implementation process. By allowing their developers to start coding and plugging into the Bank’s open banking ecosystem, corporates will be able to accelerate their digital transformation.

The Open Banking Marketplace builds on an earlier iteration of the Bank’s aXess platform, launched in 2019. It offers a richer user experience and aims to accelerate open banking adoption by making it easier for corporates to access the required applications.

The Open Banking Marketplace also features past use cases and client stories specific to each API product, offering insights on replicable solutions and tangible outcomes that illustrate how Standard Chartered’s open banking solutions can provide value-add to businesses – especially useful for stakeholders beyond those in the developer community.

“Open banking has been a transformative force over the last decade, with APIs playing an important role in enabling corporates to build future-proof propositions that meet the needs of the evolving digital economy. What is needed to further its adoption is a shift in focus towards a better user experience – one that is less technically focused and offers simple, plug-and-play solutions,” said Mark Willis, Standard Chartered’s Global Head of API & Open Banking Ecosystems, Digital Channels & Data Analytics.

“We are excited to introduce our new and revamped Open Banking Marketplace that provides a comprehensive, user-friendly interface to help them make informed and timely decisions when assessing and implementing the use of APIs within their business environment. Through the various resources available on the platform, we hope that more of them can draw inspiration from the other organisations who have successfully tapped into our suite of API products to realise their business objectives.”