Standard Chartered today announced the launch of SC PrismFX, its cross-currency Transactional foreign exchange (FX) solutions suite.

SC PrismFX is available for Financial Institution (FI), Non-Banking Financial Institution (NBFI), PayTech, and Corporate clients globally.

SC PrismFX integrates Standard Chartered’s suite of digital, integrated Transaction Banking, Financial Markets, and Digital Platforms capabilities under one brand name to deliver robust 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 digital FX solutions seamlessly integrated into client journeys for a superior customer experience.

With SC PrismFX, FI and NBFI clients can benefit from the convenience and efficiency of a single provider offering the widest 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. Additionally, clients can benefit from automated FX payments with faster multi-destination delivery, Auto FX Conversion solution, and seamless integration with minimal operating process changes and set-up costs.

Michael Spiegel, Global Head of Transaction Banking at Standard Chartered, said:

“Beyond mainstream settlement and payment currencies, Corporate, Financial Institutions and PayTech clients are increasingly transacting in emerging markets currencies. SC PrismFX offers clients access to a robust payment distribution network with direct clearing across multiple domestic schemes. Our strong on-the-ground network in some of the world’s most dynamic markets, coupled with our continued investments in our platforms give us an edge in the market and allow us to offer our clients an end-to-end transactional FX solutions suite that can be tailored to their specific needs.”

Sharad Desai, Global Head of Markets Sales and Structuring at Standard Chartered, said:

“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.”