Sean Thompson

Standard Chartered(StanChart) has partnered with business commerce network SAP Ariba in order to increase the Bank’s financial supply chain solutions reach across the Asia Pacific through the Ariba Network. The collaboration aims to propel the digitalization of the supply chain and enhance accuracy for buyers and suppliers.

Lisa Robins, global head of Transaction Banking at StanChart said, “We are delighted to collaborate with SAP Ariba to support our clients throughout their procure-to-pay lifecycles and beyond. As we embrace open banking, we connect communities across our footprint and provide access to integrated solutions that enable our clients to grow their businesses sustainably.”

SAP states that the Ariba Network is expected to enable buyers in the management of their payments and supply chain needs, with the SAP Ariba platform. The network will allow for better financial access for suppliers via Standard Chartered. Ariba Network facilitates collaborations of around 4.2 million companies and 190 countries.

Sean Thompson, senior vice president, Business Network and Ecosystem, SAP Ariba and SAP Fieldglass said, “We are thrilled to welcome Standard Chartered into our ever-expanding ecosystem to deliver financing options that enhance value for our customers, allowing them to complete the procure-to-pay process end-to-end on a single platform.”

The collaboration furthers the companies’ goals in strengthening sustainable economic growth and opportunities for increasing financial access through commercial collaborations.

Recently, Emirates NBD entered into a partnership with enterprise provider SAP, for implementing its Financial Services Data Platform.

by Megha Bhattacharya
Market Analyst at IBS Intelligence