Standard Chartered has launched its new Open Banking Marketplace, a one-stop platform that enables clients to discover, identify, and test APIs. With the objective of streamlining business-to-bank collaboration, corporates who are keen to partner with the bank in their digital transformation can benefit from a shorter discovery and implementation process, by allowing their developers to start coding and plugging into the bank’s Open Banking ecosystem.

As per the official announcement, Standard Chartered is actively improving its Open Banking capabilities by leveraging and sharing APIs. The Open Banking Marketplace is an evolution of the bank's aXess platform introduced in 2019. This initiative aimed to empower the developer community, enhancing Open Banking features and delivering a superior user experience.

The goal is to expedite Open Banking adoption, facilitating easier access to the necessary applications for corporates. Users of the platform can access features such as: Browse and filter solutions tailored to their industry across 33 markets globally, including manufacturing, fintech, technology, ecommerce and more;  Create a project space and conduct testing with their team in an upgraded simulator environment which allows them to write and test production-ready code;   Explore new developer guides such as API technology documents and tutorials on the bank’s security protocols and authentication. The Open Banking Marketplace showcases previous use cases and client testimonials tailored to each API product.

This provides insights into replicable solutions and real-world results. This information could be beneficial for stakeholders beyond the developer community. More on Standard Chartered In January 2024, Standard Chartered expanded in the MENA region with the launch of its full-fledged banking operations in Egypt.

After obtaining final approval from the Central Bank of Egypt (CBE), the Standard Chartered Bank opened the doors to its first branch in the country. The branch would provide banking services to sovereign and government entities, major corporations, financial institutions, and multinational companies operating in Egypt. In December 2023, Standard Chartered initiated exchange services for China's digital yuan (e-CNY), becoming one of the first foreign companies to join the CBDC's business pilot.

Collaborating with City Bank Clearing Services, the bank's China division offers customers access to the digital yuan's interconnection platform, enabling recharge and redemption services. .