Standard Chartered, a leading financial institution, has recently introduced SC PrismFX, a comprehensive cross-currency foreign exchange (FX) solutions suite designed for a wide range of clients including financial institutions, non-banking financial institutions, payment technology companies, and corporates on a global scale. This innovative platform integrates the bank’s digital transaction banking, financial markets, and digital platform capabilities to streamline FX payment services across more than 130 currencies in over 40 markets.
One of the key benefits of SC PrismFX is its promise of providing consistent FX payment handling for corporates worldwide. Additionally, payment technology firms can leverage the platform to access an extensive distribution network that spans across developed and emerging markets, with connections to local and instant payment schemes.
With SC PrismFX, users can benefit from upfront FX rate visibility, automated payment processing, and multi-destination delivery capabilities. These features empower users to maintain control over margins and rates for their customers while minimizing operational changes and setup costs. Sharad Desai, the Global Head of Markets Sales and Structuring at Standard Chartered, emphasized the platform’s ability to offer clients tailored FX payment solutions that cater to their specific needs, regardless of complexity.
Standard Chartered highlights that SC PrismFX will equip clients to navigate complex market conditions by leveraging the bank’s FX expertise and payment networks across both emerging and developed markets. This strategic integration of digital capabilities and financial market expertise positions the bank as a trusted partner for clients seeking reliable and efficient FX payment solutions.
In conclusion, Standard Chartered’s launch of SC PrismFX represents a significant advancement in the realm of FX payment services, offering clients a comprehensive suite of solutions to facilitate seamless cross-currency transactions. With its focus on transparency, efficiency, and tailored solutions, SC PrismFX is set to become a valuable asset for financial institutions, payment technology companies, and corporates looking to optimize their FX payment processes in a rapidly evolving global market landscape.
