Starfish Digital, a Singapore-based fintech platform, has announced a strategic partnership with Standard Chartered, a renowned international banking group.
The collaboration aims to introduce a multibank connectivity service, enhancing the bank’s corporate clients’ capability to establish quick, seamless connectivity between their systems and various banking relationships. The goal is to automate cash management processes, allowing corporates to achieve real-time visibility and control of their cash reserves, enhancing working capital management.
Starfish Digital is the creator of Starfish Connect, a software-as-a-service platform. This platform facilitates connections between any corporate finance, ERP, and treasury management system to any corporate banking service. This partnership enhances Standard Chartered’s growing array of API offerings, equipping corporate clients with vital information needed to reconcile their account balances, transactions, and payments.
This collaboration marks the first time Starfish Digital has partnered with a global financial institution. This reflects the burgeoning demand for digital corporate banking solutions that reduce costs, enhance capital and process efficiencies, minimise risks, and provide actionable business insights promptly. Through this alliance, Standard Chartered aims to aid their clients in transitioning to real-time treasury, optimising the advantages of APIs and Open Banking.
The essence of this partnership is the focus on the future of corporate banking, emphasising the value of digitisation, efficiency, and real-time insights in today’s fast-paced business environment.
Standard Chartered Global Head of Strategic Platform Partnerships Janet Thomas said, “We understand from our multinational corporate clients their demand for a seamless solution that digitises all their banking relationships, to give them a more complete picture of their cash positions and forecast cash flows with better accuracy. Our partnership with Starfish Digital allows us to directly respond to this need, by offering a plug-and-play solution that provides a real-time treasury experience. This further complements our growing suite of business-critical APIs available via aXess, our open banking platform.”
Starfish Digital CEO Patrick Huang said, “We are thrilled to partner with Standard Chartered to offer automated, real-time, digital banking for corporates. We see tremendous demand, especially from companies exposed to real-time payments and forward-thinking CFO’s who seek to future proof their business in a rapidly evolving payments ecosystem.”
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