Standard Chartered Launches SC PrismFX

Standard Chartered has launched SC PrismFX, a transactional FX solutions suite to streamline cross-currency transactions. This innovative solution integrates the bank’s digital Transaction Banking, Financial Markets, and Digital Platforms capabilities under one brand. It will ensure seamless FX payment services across its global network.  

Features of SC PrismFX  

These are the key features: 

Wide Market and Currency Coverage  

SC PrismFX operates in over 40 markets and facilitates transactions in more than 130 currencies, ensuring comprehensive global reach.  

Tailored Solutions for Diverse Clients  

Corporate Clients  

SC PrismFX delivers a uniform FX payment experience across global markets. It offers competitive FX pricing, expert insights into emerging markets, and varied advanced payables, receivables, and trade finance solutions.  

PayTech Clients  

Clients benefit from a vast distribution and payments network spanning developed and emerging markets. This suite integrates with local and instant payment schemes. It offers digital FX solutions that enhance the customer journey.  

FI and NBFI Clients  

Financial Institutions and Non-Banking Financial Institutions gain access to the widest range of FX currencies. It provides upfront FX rate visibility, automated payments, multi-destination delivery, and seamless integration with minimal setup costs.  

Advantages of SC PrismFX  

SC PrismFX ensures direct clearing across various domestic payment schemes, providing faster and more efficient FX transactions. The solution offers a single-provider convenience with minimal operational changes and automated FX payments powered by Auto FX Conversion.  

Effects on Traders 

This launch will have these effects on users:

Enhanced Access to Emerging Markets  

This suite provides seamless access to over 40 markets and 130+ currencies. This broad coverage simplifies transactions in emerging markets, where trading opportunities are often lucrative but complex.  

Improved Cost Control  

The upfront FX rate visibility allows traders and investors to monitor margins and ensure competitive pricing. This transparency helps manage costs effectively during high-frequency or large-scale trades.  

Faster Transaction Processing  

Automated FX payments and faster multi-destination delivery reduce delays, ensuring timely settlements. This speed is critical for traders who need to act quickly to capitalize on market movements.  

Reduced Operational Hassles  

SC PrismFX integrates easily with existing processes and minimizes setup costs. Investors benefit from streamlined operations, enabling them to focus on strategy rather than administrative challenges.  

Better Risk Management  

By integrating digital and automated FX solutions, SC PrismFX helps traders and investors navigate volatile currency markets. Its real-time insights and pricing empower them to manage risks more effectively.  

Summing Up

SC PrismFX enhances FX payment experiences for Corporate, FI, NBFI, and PayTech clients by offering tailored solutions, competitive pricing, and advanced technology. Standard Chartered continues to provide innovative, client-centric solutions across global markets. 

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