Standard Chartered has launched SC Ventures, a new division to invest in FinTechs and startup companies.
This new group will be led by Standard Chartered global head of transaction banking Alex Manson and SC Ventures will work across three units. The group offers ‘catalysts’ which are internal consultants to spread the new technology developments across Standard Chartered.
SC Ventures will also have an investment team which will be responsible for the management of the firm’s minority FinTech investments and seek new companies to back. The final division of SC is a ventures group that will sponsor and oversee technology companies that are partially or fully owned by Standard Chartered.
Standard Chartered chief information officer Michael Gorriz said, “As new technology continues to play an ever more important role in banking, there is a huge opportunity for us to promote more innovation, and at the same time develop and deliver digital solutions that work for our clients and for us.”
Alex Mason will report to Gorriz and will be based in Singapore. During Mason’s time in Standard Chartered, he led SC Innovate, which is a platform for employees to drive innovations and proof of concepts for FinTech collaborations.
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