Standard Chartered leverages SAP to support API connectivity for enterprise-to-bank transactions

Standard Chartered leveraged the SAP Multi-Bank Connectivity solution and joined as a member bank. It aims to help enterprise clients meet their transactional banking needs, simplify the onboarding process, and deliver both traditional and new banking services in real time. ..

Over the last decade, companies have demanded more from banks regarding connectivity, interfaces, and the amount of information they receive to support integration with their resource planning, financial and cash management needs. rice field. The pandemic has further accelerated the transition to digital banking, increasing the need for both companies and their banking partners to automate and support real-time payments.

SAP Multi-Bank Connectivity is a software cloud solution as a service natively integrated into SAP S / 4HANA and SAP ERP, aimed at simplifying connectivity and automating financial transactions between companies and their financial institutions. increase. By joining the community, Standard Chartered clients already in the corporate network can participate in digital experiences such as end-to-end payment processes, auto-adjustment and real-time updated cash positions.

Standard Chartered is also one of the pioneering banks that supports application programming interfaces (APIs) with SAP Multi-Bank Connectivity. It is intended to provide on-demand real-time debit and credit notifications when a client receives cash in a bank account and to trigger subsequent triggers. A workflow that replenishes a customer’s credit line to allow new purchases or product shipments.

Philip Panaino, Global Head of Cash Management at Standard Chartered Bank, said: Part of. This collaboration goes beyond traditional connectivity to include the first API-enabled account notification capabilities over SAP’s enterprise-to-bank channels. Beyond this, we will continue to explore various use cases where the API can provide greater agility. , The speed and productivity of corporate clients and partners. ”

“Organizations like Standard Chartered Bank will become intelligent companies that support business transformation strategies in this’never normal’era, and will be sustainable and inclusive as the financial ecosystem becomes more competitive. We have adopted the cloud-first concept of driving growth. Eileenture, Managing Director of SAP Singapore, said:

“With the SAP Multi-Bank Connectivity solution, Standard Chartered leverages the power of the cloud and a robust digital core to streamline and automate communications with banks around the world, simplify financial operations and better manage cash assets. We can better achieve that goal, ”Chur added.

Innovation is at the heart of Standard Chartered’s strategy and is outlined in the Bank’s Innovation and Digitization event on how to shift investment to new platforms, partnerships and ventures that will shape the future of business. Following our strategic collaboration with SAP Ariba in 2019, we have expanded our relationship with the SAP ecosystem. It aims to provide clients with access to on-demand financial experience within their existing environment and facilitate rapid adoption of a comprehensive suite. API.

Standard Chartered leverages SAP to support API connectivity for enterprise-to-bank transactions

Source link Standard Chartered leverages SAP to support API connectivity for enterprise-to-bank transactions

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