Standard Chartered has launched SC PrismFX, a new transactional foreign exchange solutions suite designed to meet the needs of its global clients. The service is available to Financial Institutions (FI), Non-Banking Financial Institutions (NBFI), PayTech, and Corporate clients worldwide.
SC PrismFX combines Standard Chartered's digital transaction banking, financial markets, and digital platforms under one brand. It aims to provide robust FX payment services across more than 130 currencies in over 40 markets.
Corporate clients using SC PrismFX will experience consistent transactional FX payments globally with competitive pricing and insights into emerging markets. The suite also includes advanced payables, receivables, and trade finance solutions.
For PayTech clients, SC PrismFX offers an extensive distribution network in both developed and emerging markets. It connects to local and instant payment schemes and integrates various digital FX solutions for enhanced customer experiences.
FI and NBFI clients benefit from a wide range of FX currencies with transparent rate visibility. This allows full control over margins and rates for their customers. The solution also provides automated FX payments with faster delivery, Auto FX Conversion solutions, and seamless integration requiring minimal changes or costs.
Michael Spiegel, Global Head of Transaction Banking at Standard Chartered, stated: “Beyond mainstream settlement and payment currencies, Corporate, Financial Institutions and PayTech clients are increasingly transacting in emerging markets currencies. SC PrismFX offers clients access to a robust payment distribution network with direct clearing across multiple domestic schemes."
Sharad Desai, Global Head of Markets Sales and Structuring at Standard Chartered, commented: “In a rapidly evolving macro-economic and geopolitical environment, corporates and financial institutions need competitive, digital, and automated FX solutions that help them efficiently manage their risks."
SC PrismFX aims to assist Standard Chartered's clients in navigating complex market conditions by leveraging the bank’s expertise in foreign exchange alongside its digital capabilities.
For further information please contact:
Rami Lawand
Standard Chartered
+65 9632 1507
Alvina Neo
Standard Chartered
+65 6981 5796