Standard Chartered today announced the launch of the new Open Banking Marketplace, a one-stop platform that enables both existing and prospective clients to discover, identify and test application programming interfaces (APIs) that best meet their business objectives in an environment sandbox.
Aimed at streamlining the collaboration between business and bank, companies looking to work with the Bank on their digital transformation can benefit from a shorter discovery and application process, allowing their developers to start coding and connect to open banking Bank ecosystem. to simulate the experience almost instantly.
Embracing the future of banking, Standard Chartered has focused on strengthening its open banking capabilities through the sharing and use of APIs. The Open Banking Marketplace builds on an earlier iteration of the Bank’s aXess platform launched in 2019 – which was part of a wider initiative aimed at the developer community to strengthen open banking capabilities – and offers a richer user experience aimed at accelerating open banking adoption by making it easier for companies to utilize the required applications.
In addition to being able to access a growing suite of more than 100 API-ready products from cash and FX to trading and securities, users of the platform can also enjoy other unique features including:
- Browse and filter solutions tailored to their industry across 33 markets worldwide, including manufacturing, fintech, technology, e-commerce and more.
- Create a project space and run tests with their team in an upgraded simulator environment that allows them to write and test production-ready code. and
- Explore new developer guides such as API tech docs and Bank authentication and security protocols tutorials.
The Open Banking Marketplace also features case studies and customer stories specific to each API product, offering insight into replicable solutions and tangible results that demonstrate how Standard Chartered’s open banking solutions can add value to businesses – particularly useful for stakeholders beyond from those of the developer community.
“Open banking has been a transformative force over the last decade, with APIs playing an important role in enabling companies to create future propositions that meet the needs of the evolving digital economy. What is needed to drive its adoption is a shift in focus towards a better user experience – one that is less technically focused and offers simple plug-and-play solutions,” said Mark Willis, Global Head of API & Open Banking Ecosystems at Standard Chartered. , Digital Channels & Data Analytics.