Standard Chartered Launches SC PrismFX For Corporate And PayTech Clients

Standard Chartered has rolled out SC PrismFX, a wide collection of foreign exchange and payment services designed especially for PayTechs, banks, and corporate clients.

SC PrismFX brings together Standard Chartered’s financial markets, transaction banking, and digital platform skills under one name. The goal is to offer FX payment services to clients in over 130 currencies across more than 40 markets.

The Platform Delivers A Smooth FX Payment Experience For Corporate Clients

For corporate customers, SC PrismFX delivers a smooth FX payment experience worldwide with fair FX pricing, expert knowledge about emerging markets, and advanced solutions for payables, receivables, and trade finance.

For PayTech customers, SC PrismFX gives access to a vast network of payments across developed and growing markets, connections to local and quick payment systems, and a range of built-in digital FX tools.

Financial institutions can enjoy the ease of having one provider offering many FX currencies with clear, upfront FX rates. This lets clients fully control margins and rates for their own customers. The platform allows faster, automated FX payments across multiple locations, Auto FX Conversions, and simple integration with little effort and cost to set up.

Sharad Desai, global head of markets sales and structuring at Standard Chartered, gave his opinion regarding the launch. He stated that in today’s changing economic and political world, businesses and financial institutions need strong, digital, and automated FX solutions to manage risks, cut costs, and stay ahead. SC PrismFX combines Standard Chartered’s FX trading power, local insights, and world-class payments platform to offer clients FX payment solutions tailored to their needs, no matter how challenging they are.

Standard Chartered Partnered With Wise For Cross-Border Money Transfers

Standard Chartered recently teamed up with Wise to help with cross-border money transfers in Asia and the Middle East.

Through this partnership, Standard Chartered’s SC Remit customers in the Middle East and Asia can send money in 21 currencies, like USD, EUR, CAD, GBP, HKD, SGD, and JPY, in just seconds. Customers will get the mid-market rate without any extra charges.

Standard Chartered will link Wise’s system using the Wise Platform API to give SC Remit customers this service in the coming months. More currencies and places will be added as Standard Chartered grows this service.

Standard Chartered has a history with Wise, working together in March through Mox, its digital bank in Hong Kong.

Steve Naudé, managing director of Wise Platform, noted that partnering with Standard Chartered, one of the largest global banks, is a huge step in making international payments better for customers. He added that Wise and Standard Chartered both aim to create smooth payment experiences, and the firms are excited to work together to help SC Remit customers get quick, safe, and low-cost international payments.