On Tuesday, Standard Chartered unveiled SC PrismFX, its cross-currency transactional foreign exchange (FX) solutions suite.
Standard Chartered Announces Launch of SC PrismFX
The firm said in a press release that the solutions suite is designed to cater to the diverse FX needs of Financial Institutions (FI), Non-Banking Financial Institutions (NBFI), PayTech, and Corporate clients globally.
SC PrismFX is said to integrate Standard Chartered’s digital Transaction Banking, Financial Markets, and Digital Platforms under one brand, providing FX payment services across more than 130 currencies in over 40 markets.
For Corporate clients, SC PrismFX reportedly provides a consistent global transactional FX experience, competitive FX pricing, and insights into emerging markets, along with advanced payables, receivables, and trade finance solutions.
PayTech clients are said to benefit from a broad payments network across developed and emerging markets, integration with local and instant payment schemes, and a combination of digital FX solutions for enhanced customer experience.
Standard Chartered added that FI and NBFI clients can leverage SC PrismFX for convenience and efficiency, with access to the widest suite of FX currencies and upfront rate visibility, allowing full control over margins and rates.
The platform also features automated FX payments, faster multi-destination delivery, and minimal operational changes and set-up costs.
Michael Spiegel, Global Head of Transaction Banking at Standard Chartered, said that beyond mainstream settlement and payment currencies, “Corporate, Financial Institutions and PayTech clients are increasingly transacting in emerging markets currencies,” and 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, commented: “SC PrismFX brings together the strengths of Standard Chartered’s FX trading capabilities, on-the-ground insights, and our world-class payments platform to offer clients a suite of FX payments solutions that meet their specific needs, regardless of how complex they are.”
