Standard Chartered has launched SC PrismFX, a broad suite of foreign exchange and payment services tailored to the specific needs of banks, PayTech's and corporate clients.
SC PrismFX integrates Standard Chartered’s transaction banking, financial markets, and digital platforms capabilities under one brand name to deliver FX payment services to its clients across over 130 currencies in more than 40 markets.
For corporate clients, SC PrismFX provides a consistent transactional FX payments experience across Standard Chartered’s markets globally, with competitive FX pricing and expert emerging markets insights coupled with a suite of advanced payables, receivables, and trade finance solutions.
For PayTech clients, SC PrismFX provides an extensive distribution and payments network across developed and emerging markets, connectivity to local and instant payment schemes, and a variety of integrated digital FX tools.
Financial institutions can benefit from the convenience and efficiency of a single provider offering a wide suite of FX currencies and upfront FX rate visibility and transparency to enable clients to have full control over margins and rates for their own customers. The platform provides automated FX payments with faster multi-destination delivery, Auto FX Conversions, and 'seamless integration' with minimal operating process changes and set-up costs.
Sharad Desai, global head of markets sales and structuring at Standard Chartered, says: “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, control their costs, and gain a competitive advantage. 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.”