FinLync partnered with Standard Chartered to accelerate the adoption of API
By Joy Dumasia
FinLync, a global FinTech company transforming corporate finance and treasury offices through its products, and Standard Chartered, a leading international banking group, announced their partnership to enable corporate treasury and finance teams to rapidly and easily connect to Standard Chartered’s application programming interface (API) offerings, via FinLync.
This partnership reflects FinLync’s role as the market leader in bank API connectivity and Standard Chartered’s commitment to developing API offerings that provide corporate treasurers with 24/7 access to critical information for improved control and visibility. By partnering with FinLync, the Bank can support its clients in making the shift to real-time treasury and significantly increasing working capital efficiency.
Standard Chartered has developed business-critical APIs, available via its Open Banking platform, aXess, including Transactions, Payment Initiation, Payment Status and Balances. FinLync’s technology can directly embed account data, via bank APIs, into any clients’ ERP platform, especially for SAP, providing real-time visibility into account data and cash positions. This partnership will help address the challenges of today’s treasurers as they continue to face pressure to do more with fewer resources.
Philip Panaino, Global Head of Cash Management at Standard Chartered, said: “Beyond the building of APIs, we recognise the need to take the next step in ensuring that corporates can access these solutions in a fast, secure and easy-to-use manner, to fully deliver the benefits of this seamless connection. We are excited to work with FinLync, the leading authority in bank API connectivity, and believe this partnership will help our clients rapidly unlock more value from the market-leading APIs we develop for the corporate finance industry.”
Recently, IBS Intelligence reported that Standard Chartered Bank has launched ‘SC Invest’, an online investment platform that gives clients a complete investment ecosystem at their fingertips. This new platform brings together several industry-leading features and puts Standard Chartered at par with other leading FinTech firms.