StanChart Teams up with FinLync to Drive Adoption of Bank’s API Offerings by Corporate Treasury Teams

The leading international banking group Standard Chartered (StanChart) announced on Wednesday that it has built a partnership with FinLync, a global fintech company transforming corporate finance and treasury offices through its world-class products, to allow corporate treasury and finance teams to rapidly and easily connect to StandChart’s application programming interface (API) offerings via FinLync.

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With the bank’s API solutions, corporates are able to make decisions faster, more frequently and based on more-precise information, all of which provide an edge over their competition without the substantial time and financial investments typically required in such integration projects.

This partnership reflects FinLync’s role as the market leader in bank API connectivity, and StandChart’s commitment to developing API offerings that provide corporate treasurers with 24/7 access to critical information for improved control and visibility. 

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By partnering with FinLync, the bank is able to support its clients in making the shift to real-time treasury and significantly increasing working capital efficiency, and differentiate itself from banks limited to legacy connectivity, all while offloading IT burdens.

“Beyond the building of APIs, we recognise the need to take the next step in ensuring that corporates can access these solutions in a fast, secure and easy-to-use manner, to fully deliver the benefits of this seamless connection. We are excited to work with FinLync, the leading authority in bank API connectivity, and believe this partnership will help our clients rapidly unlock more value from the market-leading APIs we develop for the corporate finance industry,” said Philip Panaino, Global Head of Cash Management of StanChart.

StanChart has developed various business-critical APIs, available via its Open Banking platform, aXess, including Transactions, Payment Initiation, Payment Status and Balances. FinLync’s technology can directly embed account data, via bank APIs, into any clients’ ERP (Entrise Resource Planning) platform, especially for SAP, providing real-time visibility into account data and cash positions. Working together, this collaboration will help address the challenges of today’s treasurers, as they continue to face pressure to do more with fewer resources. FinLync frees treasury teams up from delays, IT headaches and risks to provide greater speed, richer and more-precise data, and security.