Standard Chartered Commits to Developing Open Banking Capabilities
Posted: 9 April 2019 | Source: Finextra
Standard Chartered is working to turbo-charge its Open Banking capabilities, opening a third party developer portal, inhouse test lab and developer academy.
The bank says the objective is to build partnerships with developers, corporations and fintechs to create better client products and services through the sharing and use of APIs.
With this in mind, Standard Chartered is to offer third party developers unfettered access to its open source code for banking products and its APIs, applications, and libraries.
It is also opening a Bengaluru-based test lab is a physical space where the bank’s in-house developers can experiment with cutting edge technologies and share best practices, capabilities, and tools across the bank.
Separately, a developer academy will aim to upskill the bank’s coders with the technical skills required for Open Banking through training programmes, hackathons, and technology leadership roundtables. It will additionally act as a forum for networking with tech networks in other industries.
Sebastian Wedeniwski, StanChart's chief technology strategist states: “The future of banking is changing fast with massive technology-led innovations. Our aXess initiatives to boost our open banking capabilities aims to enhance the developer experience and upskill the technology expertise of the bank, while guiding developers on our journey to build for openness and integration.”