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Standard Chartered Open Banking Marketplace: New Innovation

Standard Chartered shared its latest innovation, the Open Banking Marketplace, aiming to revolutionize business-to-bank collaboration and accelerate digital transformation. This platform offers a comprehensive suite of application programming interfaces (APIs) in a sandbox environment, allowing clients to seamlessly discover, evaluate, and test APIs tailored to their business needs.

Also, designed to streamline the collaboration process, the Open Banking Marketplace enables corporates to initiate their digital journey swiftly. By providing developers with immediate access to the bank’s open banking ecosystem, clients can expedite the discovery and implementation phases, fostering innovation and efficiency.

Building upon its previous aXess platform introduced in 2019, Standard Chartered enhances user experience with the Open Banking Marketplace. Offering over 100 ready-built API products spanning various industries and markets, the platform facilitates easy navigation and exploration of solutions pertinent to each client’s requirements.

Standard Chartered New Open Banking Marketplace 

Key features of the Open Banking Marketplace include:

  • Access to a diverse range of APIs across 33 global markets, catering to industries such as manufacturing, fintech, technology, and e-commerce.
  • Also, creation of project spaces for collaborative testing, utilizing an upgraded simulator environment for writing and testing production-ready code.
  • Availability of developer guides, including API technology documents and tutorials on the bank’s security protocols and authentication procedures.

Moreover, the platform showcases past use cases and client stories associated with each API product, offering valuable insights into replicable solutions and tangible outcomes. This feature serves as a valuable resource for stakeholders beyond the developer community, demonstrating the tangible benefits of Standard Chartered’s open banking solutions.

Mark Willis, Global Head of API & Open Banking Ecosystems at Standard Chartered, emphasized the importance of enhancing user experience in driving the adoption of open banking. He highlighted the need for simple, plug-and-play solutions to meet the evolving demands of the digital economy.

So, Standard Chartered’s Open Banking Marketplace represents a significant step forward in facilitating seamless collaboration between businesses and banks, paving the way for accelerated digital innovation and transformation in the retail sector.

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