Starfish Digital and Standard Chartered partner to support demand for real-time cash management data
The partnership will deliver API-led real-time data for cash management and improved cash visibility to corporate treasury teams
Singapore – Starfish Digital, a Singapore headquartered fintech platform, and Standard Chartered, a leading international banking group, today announced a strategic partnership to introduce a multibank connectivity service, to support the bank’s corporate clients in establishing speedy and seamless connectivity between their systems and multiple banking relationships. This automates the corporate’s cash management processes and allows corporates to achieve real time visibility, access, and control of their cash holdings, resulting in improved working capital management.
The partnership – the first between Starfish Digital and a global financial institution – reflects the growing demand for digital corporate banking capabilities that lower costs, drive capital and process efficiencies, mitigate risks and deliver actionable business insights in real time. Through this partnership, Standard Chartered is supporting their clients in their transition to real-time treasury, so that they can reap the benefits of application programming interface (APIs) and Open Banking.
Starfish Digital’s Software-as-a-Service platform, Starfish Connect, provides the connection between any corporate finance, ERP and treasury management system to any corporate banking service. This enhances Standard Chartered’s expanding API offerings to provide corporates clients the critical information to reconcile their account balances, transactions, and payments, and as a result, achieve improved control and visibility.
Janet Thomas, Global Head of Strategic Platform Partnerships at Standard Chartered, said: “We understand from our multinational corporate clients their demand for a seamless solution that digitises all their banking relationships, to give them a more complete picture of their cash positions and forecast cash flows with better accuracy. Our partnership with Starfish Digital allows us to directly respond to this need, by offering a plug-and-play solution that provides a real-time treasury experience. This further complements our growing suite of business-critical APIs available via aXess, our open banking platform.”
“We are thrilled to partner with Standard Chartered to offer automated, real-time, digital banking for corporates,” said Patrick Huang, CEO Starfish Digital. “We see tremendous demand, especially from companies exposed to real-time payments and forward-thinking CFO’s who seek to future proof their business in a rapidly evolving payments ecosystem.”
For further information please contact:
Patrick Huang
Starfish Digital
+65 9721 2219
Josephine Wong
Group Media Relations
Standard Chartered
+65 6981 1514
Starfish Digital
Starfish Digital is a financial connectivity platform. We power financial relationships and facilitate open data between corporates and their banking partners. Starfish Connect, our proprietary client connectivity SaaS platform, manages data in the cloud with the security and resilience demanded for trusted, critical banking services. The Starfish Universal Adaptor intelligently unlocks and integrates financial data from any source to any target. Headquartered in Singapore, we connect any company to any corporate banking service.
Discover more at https://www.starfish.digital/company or follow us on LinkedIn.