Standard Chartered and Temenos have joined forces to integrate the bank's foreign exchange (FX) service, SCALE, into the Temenos Exchange partner ecosystem. Announced at Money 20/20 Asia in Bangkok, this partnership makes Standard Chartered the first bank to offer its solution on Temenos' platform of fintech solutions.
This collaboration combines Standard Chartered's FX execution and settlement services with Temenos' core banking and payments technology, enabling financial institutions on the Temenos platform to enhance their services. Janet Thomas, Global Head of Strategic Partnerships at Standard Chartered, stated, “We are delighted to partner with Temenos to extend the reach of SCALE to even more financial institutions globally, by building on the geographical synergy that Standard Chartered shares with Temenos.”
By integrating with Temenos Payment Hub, financial institutions will be able to consolidate Standard Chartered's FX service with other payment services on a single platform. FIs will have faster market access and full control over FX margins for customer transactions.
Cross-border payments are experiencing rapid growth, projected to rise from $194 trillion to $320 trillion by 2032, driven by globalization and digital commerce. This integration aims to capture a larger share of this expanding market, as noted by Monty Bhatia, EVP of Global Alliances at Temenos: “We are proud to welcome one of the world’s leading financial institutions to Temenos Exchange. This collaboration demonstrates the strength of our ecosystem to create superior solutions and drive greater value for our clients.”
The collaboration highlights efforts from both entities to improve financial institutions' FX services, offering enhanced efficiency and accessibility while broadening their international reach.
For more information, interested parties can contact Temenos Global Public Relations or Temenos Team at Edelman Smithfield as specified.
Josephine Wong
Group Media Relations
Standard Chartered
Temenos is recognized as the leading platform for banking services worldwide, helping top banks achieve better financial performance using their software.
More details can be found at www.temenos.com.