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Standard Chartered has launched SC PrismFX, a cross-currency foreign exchange (FX) solutions suite for financial institutions, non-banking financial institutions, payment technology companies, and corporates globally.
The new platform consolidates the bank’s digital transaction banking, financial markets, and digital platform capabilities to facilitate FX payment services across more than 130 currencies in over 40 markets.
The offering promises consistent FX payment handling worldwide for corporates. Payment technology firms gain access to an extensive distribution network spanning developed and emerging markets, with connections to local and instant payment schemes.
SC PrismFX brings upfront FX rate visibility, automated payment processing, and multi-destination delivery capabilities. This should allow users to maintain control over margins and rates for their customers while minimising operational changes and setup costs.
“Our world-class payments platform [offers] clients a suite of FX payments solutions that meet their specific needs, regardless of how complex they are,” said Sharad Desai, Global Head of Markets Sales and Structuring at Standard Chartered.
The bank says the new platform will enable clients to navigate complex market conditions by leveraging its FX expertise and payment networks across both emerging and developed markets.
