Standard Chartered has unveiled SC PrismFX, a comprehensive cross-currency transactional foreign exchange (FX) solutions suite, aimed at enhancing the FX payment services for its global clientele. The suite is designed for Financial Institutions, Non-Banking Financial Institutions, PayTech, and Corporate clients, including notable companies like bp and Ant International.
SC PrismFX consolidates Standard Chartered’s digital capabilities in Transaction Banking, Financial Markets, and Digital Platforms under a single brand. This integration allows the bank to offer robust FX services across more than 130 currencies in over 40 markets. Michael Spiegel, Global Head of Transaction Banking at Standard Chartered, highlighted the suite’s ability to provide clients with a “robust payment distribution network with direct clearing across multiple domestic schemes.”
For corporate clients such as bp, SC PrismFX ensures a consistent FX payments experience with competitive pricing and insights into emerging markets. PayTech clients like Ant International benefit from an extensive payments network and seamless integration with local payment schemes, enhancing customer experience.
The suite also offers Financial Institutions and Non-Banking Financial Institutions the convenience of a single provider with upfront FX rate visibility, enabling full control over margins and rates. Ankur Kanwar, Head of Transaction Banking & Cash Management, Singapore and ASEAN, described SC PrismFX as a “digital-first, future-ready solution” that enhances convenience and competitiveness for clients.
With SC PrismFX, Standard Chartered aims to leverage its foreign exchange expertise and extensive payment network to help clients navigate complex global and local market challenges effectively.
