Standard Chartered partners with Starfish Digital

Tuesday 26 September 2023 12:26 CET | News

International banking group Standard Chartered has announced a partnership with Singapore-based fintech Starfish Digital to support demand for real-time cash management data.


The collaboration is set to deliver API-led real-time data for cash management and improved cash visibility to corporate treasury teams.

Standard Chartered – Starfish Digital partnership details

Per the press release, the Standard Chartered – Starfish Digital strategic collaboration will see the introduction of a multibank connectivity service to support the bank’s corporate clients in setting up fast and simplified connectivity between their systems and multiple banking relationships. This helps automate the corporates’ cash management processes and enables them to achieve real-time visibility, access, and control of their cash holdings, resulting in improved working capital management.

Furthermore, the partnership highlights the increasing demand for digital corporate banking capabilities that decrease costs, drive capital and process efficiencies, mitigate risks, and deliver actionable business insights in real time. Through this cooperation, Standard Chartered is supporting its clients in their transition to real-time treasury so that they can take advantage of the benefits associated with APIs and Open Banking.

Standard Chartered partners with Starfish Digital

Starfish Digital’s Software-as-a-Service (SaaS) platform, Starfish Connect, offers the connection between any corporate finance, ERP, and treasury management system to any corporate banking service. This helps enhance Standard Chatered’s expanding API offering to provide corporate clients with the required information to reconcile their account balances, transactions, and payments, thus resulting in improved control and visibility.

When commenting on the announcement, Standard Chartered officials advised that their multinational corporate clients require a simplified solution that digitises all their banking relationships to provide them with a more complete picture of their cash positions and forecast cash flows with improved accuracy. Per their statement, the partnership with Starfish Digital enables the company to respond to this need directly by delivering a plug-and-play solution that offers a real-time treasury experience. What is more, this helps further complement Standard Chartered's growing suite of business-critical APIs available via aXess, its Open Banking platform.

More to this point, Starfish Digital company representatives said that they are looking forward to partnering with Standard Chartered to provide automated, real-time, digital banking for corporates. Per their statement, the is an increased demand, especially from companies exposed to real-time payments and forward-looking CFOs who look to future-proof their business in a quickly evolving payments ecosystem.

Starfish Digital’s offering and mission

A financial connectivity platform, Starfish Digital helps power financial relationships and facilitate open data between corporates and their banking partners. Its proprietary client connectivity SaaS platform, Starfish Connect, manages data in the cloud with the security and resilience required for trusted, critical banking services. Additionally, the Starfish Universal Adaptor unlocks and integrates financial data intelligently, from any source to any target.

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Keywords: partnership, digital banking, SaaS, API, Open Data Economy, Open Banking, fintech, cash management, treasury
Categories: Banking & Fintech
Companies: Standard Chartered, Starfish Digital
Countries: World
This article is part of category

Banking & Fintech

Standard Chartered


Starfish Digital

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