To further the use of application programming interfaces, Standard Chartered has launched a new «Open Banking Marketplace» for 33 markets globally.

Standard Chartered has launched its new «Open Banking Marketplace» which is a one-stop platform for existing and prospective clients to «discover, identify, and test» application programming interfaces (APIs) that meet their business objectives in a sandbox environment, according to a statement. 

«Open banking has been a transformative force over the last decade, with APIs playing an important role in enabling corporates to build future-proof propositions that meet the needs of the evolving digital economy,» said Mark Willis, Standard Chartered’s global head of API & open banking ecosystems, digital channels & data analytics. 

Over 100 Products

The Open Banking Marketplace will include more than 100 ready-built API products from cash and FX to trade and securities. 

It will also include other features such as the ability to browse and filter solutions tailored to their industry across 33 markets globally; create a project space and conduct testing with their team in an upgraded simulator environment; explore new developer guides such as API technology documents and tutorials; and view past use cases and client stories specific to each API product.

aXess

The Open Banking Marketplace builds on an earlier iteration of the British bank's aXess platform that was launched in 2019. The latest platform was unveiled during the Money20/20 Asia fintech event in Bangkok.

«The initial feedback from our clients and partners have been extremely positive,» Wilis added. «[T]hrough the various resources available on the platform, we hope that more of them can draw inspiration from the other organizations who have successfully tapped into our suite of API products to realize their business objectives.»