Standard Chartered Bank has introduced an Open Banking Application Programming Interface (API) Developer Portal for transaction banking. This is part of the bank’s digitization agenda and to increase collaboration with corporates, fintech firms and developer communities. The portal will initially provide a repository of API services focused on cash management and then roll out other API services for the bank’s other businesses. Gautam Jain, global head, Digitization and Client Access, Transaction Banking at the bank, said the bank is the first to launch API services for cash, trade and securities services and open banking has the potential to fundamentally change how we deliver the bank to its clients. Using a collaborative ecosystem, firms and individuals can develop, test and deploy their APIs within the bank’s sandbox
