Standard Chartered has unveiled SC PrismFX, a comprehensive suite of FX payment services designed for banks, PayTech firms, and corporate clients.
The platform addresses the growing demand for transparent and automated FX solutions amidst global economic challenges, according to Finextra.
SC PrismFX integrates Standard Chartered’s transaction banking, financial markets, and digital platforms under one unified solution.
The platform offers FX payment services in over 130 currencies across more than 40 markets, catering to the unique requirements of corporates, PayTech clients, and financial institutions.
It provides corporate clients with a consistent FX payments experience globally. It offers competitive FX pricing, insights into emerging markets, and a suite of advanced payables, receivables, and trade finance solutions.
For PayTech companies, SC PrismFX delivers access to a vast distribution and payments network across developed and emerging markets. Clients benefit from connectivity to local and instant payment schemes alongside integrated digital FX tools.
Financial institutions will gain access to a wide array of FX currencies, automated FX payments, and faster multi-destination delivery. The platform also ensures upfront FX rate visibility and transparency, allowing institutions to manage margins and rates effectively for their own customers.
The platform is designed for seamless integration with minimal process changes and low set-up costs. Its Auto FX Conversion feature and faster payment processing make it an efficient tool for complex FX needs.
Sharad Desai, global head of markets sales and structuring at Standard Chartered, said, “In a rapidly evolving macro-economic and geopolitical environment, corporates and financial institutions need competitive, digital, and automated FX solutions that help them efficiently manage their risks, control their costs, and gain a competitive advantage. SC PrismFX brings together the strengths of Standard Chartered’s FX trading capabilities, on-the-ground insights, and our world-class payments platform to offer clients a suite of FX payments solutions that meet their specific needs, regardless of how complex they are.”
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