Thought Machine to power Standard Chartered's new Hong Kong bank

Wednesday 23 October 2019 10:39 CET | News

Standard Chartered has selected Thought Machine to provide core banking capabilities for its new digital bank launching in Hong Kong, according to Alex Hamilton from FinTech Futures.

The new venture, for which Standard Chartered received a virtual banking licence from the Hong Kong Monetary Authority (HKMA), will be unveiled later this year. 

According to Deniz Güven, CEO of the as-yet unnamed bank, the selection of the right vendors was a crucial part of building out the bank’s capabilities. 

The virtual bank is also using payments processor Paymentology, deploying Netsuite from Oracle and working with FICO to build out its credit business.

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Keywords: banking, core banking, digital, innovation, partnerships, startup, Standard Chartered, Thought Machine, Asia Pacific, Hong Kong
Categories: Banking & Fintech
Countries: Hong Kong
This article is part of category

Banking & Fintech