Standard Chartered taps SAP Multi-Bank Connectivity solution

Over the last decade, corporates have demanded more from their banks in terms of connectivity, interface, and the amount of information received to support the integration with their enterprise resource planning, treasury, and cash management needs. The global pandemic has further accelerated the shift to digital banking, resulting in a greater need for both corporates and their banking partners to automate and support real-time payments.

SAP Multi-Bank Connectivity is a Software-as-a-Service cloud solution natively integrated to SAP S/4HANA and SAP ERP which is targeted at simplifying connectivity and automating financial transactions between businesses and their financial institutions. By joining the community, Standard Chartered’s clients who are already part of the corporate network can be onboarded into a digital experience including end-to-end payment processes, automated reconciliation, and real-time updated cash position. 

Standard Chartered is also among the banks supporting application programming interface (API) with SAP Multi-Bank Connectivity, which aims to offer on-demand real-time debit and credit notifications when cash is received by clients in their banking account and trigger a subsequent workflow to replenish a customer’s credit line to enable new purchases or for goods shipment to occur.

The bank has expanded its relationship with the SAP ecosystem following a strategic collaboration with SAP Ariba in 2019, that intended to build on its ability to offer clients access to an on-demand treasury experience within their existing environment and drive rapid adoption of its suite of APIs.