Standard Chartered has launched its new Open Banking Marketplace to expedite the adoption of application programming interfaces (APIs).
The Open Banking Marketplace is a one-stop platform that allows both existing and potential customers to explore, identify, and evaluate APIs which align with their business goals in a sandbox environment.
Standard Chartered’s new platform builds on an earlier iteration of its aXess platform that was rolled out in 2019.
The aXess platform was part of a broader initiative aimed at the developer community to bolster Standard Chartered’s open banking capabilities. It also delivers a better user experience and accelerates open banking adoption.
The Open Banking Marketplace will enable users to access a growing suite of over 100 ready-built API products from cash and FX to trade and securities.
It will also help clients to browse and filter solutions customised to their industry across 33 markets worldwide.
The platform will assist users in developing a project space and carrying out testing with their team in an upgraded simulator environment, enabling them to write and test production-ready code.
Besides, the Open Banking Marketplace will unleash new developer guides including API technology documents and tutorials on Standard Chartered’s security protocols and authentication.
Furthermore, the bank’s new platform will have past use cases and client stories specific to each API product.
Standard Chartered API and open banking ecosystems, digital channels and data analytics global head of Mark Willis said: “Accelerating on our commitment to drive innovation by partnering with developers, corporates and fintechs to embark on this transformation journey, we are excited to introduce our new and revamped Open Banking Marketplace that provides a comprehensive, user-friendly interface to help them make informed and timely decisions when assessing and implementing the use of APIs within their business environment.”